from Gold Core:
The success of China in attracting countries traditionally within Washington’s sphere of influence to join its Asian Infrastructure Investment Bank (AIIB), such as the UK, Israel, Australia and Germany, marks another milestone toward a new multi polar world and a new era in international politics and economics.
The AIIB is seen as a potential rival to established lenders the World Bank, IMF and Asian Investment Bank, which are dominated by the United States.
The era of infrastructure investment and multilateral banks and financial institutions controlled, in large part, by Washington – often as an aggressive strategic policy tool – has come to an end. The AIIB which will be controlled by China will compete with the World Bank and the IMF for infrastructure projects and potentially could become a global lender of last resort to sovereign nations such as Greece.
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