Asian Infrastructure Investment Bank

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“A senior US diplomat said it was up to individual countries to decide on joining a new China-led lending body, as media reports said France, Germany and Italy have agreed to follow Britain’s lead and join the Asian Infrastructure Investment Bank (AIIB). A growing number of close allies were ignoring Washington’s pressure to stay out of the institution, the Financial Times reported, in a setback for US foreign policy.” from The Guardian.

Similar stories ran in most of the world papers — Telegraph, NYT, and so on — China wants to fund large-scale infrastructure projects in some of Asia’s poorest countries; the US views the move as a means to up-end the IMF and World Bank (institutions that helped to usher-in the world economy that we know today.

8 thoughts on “Asian Infrastructure Investment Bank

  1. “up-end the IMF and World Bank” hell that alone makes it worth a look, tho I imagine it’s just a shift in who is doing the extraction of value/resources, thanks for bringing this to my attention.

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    • Well, my politics aside (though challenges to the IMF and WB seem much needed), this infrastructure investment program may be a way to (1) redirect who gains from lending and (2) a way to direct and channel resources, especially material and expertise-related, in Asia, I still think that it will have a major impact on flows of resources (extraction all the way to opening markets).

      What do you make of the US’s concern over “environmental regulations” in those “Tiger States”?

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      • from the bits and pieces I know of we are, as usual, talking out of both sides of our mouths, saying we want to clean up after industry/commerce and don’t want our manufacturing costs to rise, anything in particular I should check out?

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