The China-initiated Asian Infrastructure Investment Bank (AIIB) is becoming more and more clearly a central institution for global economic progress and growth in the decades ahead.
Following the British decision March 12 to become the 28th founding nation of the AIIB, other countries which had been forced by Obama Administration threats and pressure to stay out of the development bank, have joined or are rethinking doing so.
The Financial Times late yesterday reported:
“According to European officials, France, Germany, and Italy have all agreed to follow Britain’s lead and join a China-led international development bank … delivering a blow to Obama Administration efforts to keep leading western countries out of the new institution.”
The newspaper reported that Britain “tried to gain ‘first-mover advantage’ last week by signing up … before other G7 members.”
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