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Uncle Wally
24-10-2014, 12:46
SHANGHAI (Reuters) - Australia, Indonesia and South Korea skipped the launch of a China-backed Asian infrastructure bank on Friday as the United States said it had concerns about the new rival to Western-dominated multilateral lenders.





China's proposed $50 billion Asian Infrastructure Investment Bank (AIIB) is seen as a challenge to the World Bank and Asian Development Bank, both multilateral lenders that count Washington and its allies as their biggest financial backers.

China, which is keen to extend its influence in the region, has limited voting power over these existing banks despite being the world's second-largest economy.

The AIIB, launched in Beijing at a ceremony attended by Chinese finance minister Lou Jiwei and delegates from 21 countries including India, Thailand and Malaysia, aims to give project loans to developing nations. China is set to be its largest shareholder with a stake of up to 50 percent.

Indonesia, where President Xi Jinping first spoke of the AIIB during an October visit last year, was not present and neither were South Korea and Australia, according to a pool report.

Media reports said U.S. Secretary of State John Kerry put pressure on Australia to stay out of the bank.


http://finance.yahoo.com/news/three-major-nations-absent-china-040036987.html

Judge
24-10-2014, 12:55
Interesting....

Australia has been under pressure from the U.S. for some time to not become a founding member of the bank and it is understood Mr Kerry put the case directly to the prime minister when the pair met in Jakarta on Monday ­following the inauguration of Indonesian President Joko Widodo," the paper said.

what would the US do if the Aussies ignored the US and went along with the Chinese, we might see something like this..


CIA overthrew Australian government

http://expat.ru/forum/showthread.php?t=634918

:fridaysign: nothing to see here, time to put on my tin-foil hat:cool:

Uncle Wally
24-10-2014, 14:15
Most likely you find terrorist attacking down under. Notice South Korea hasn't said much but has bee dumping some dollars lately.


China is now singing,

carpenters -We've Only Just Begun - YouTube

Yaks
24-10-2014, 14:46
Interesting....


what would the US do if the Aussies ignored the US and went along with the Chinese, we might see something like this..


http://expat.ru/forum/showthread.php?t=634918

:fridaysign: nothing to see here, time to put on my tin-foil hat:cool:

yep, someone would have to be complete ignorant of the Australia parliamentary system to make that comment. It was double dissolution election trigger caused by the Liberals having control of the senate and blocking supply. Can't happen in the UK because so many of the house of Lords are not elected and also can't happen in the US-the government just shuts down(which happened to Obama.) The Australian system has a way out to resolve it. Gough Whitlam was quite the visionary, bringing in universal health care and education etc but he had several members of parliament causing scandals over corruption and he couldn't balance the budget in the time of the oil squeeze. The US had absolutely nothing to do with it and it is just daft to say so.