Why those back-stabbing Limey shi.........Britan to join China's new World bank !

[Mega]

By Agencies

11:40PM GMT 12 Mar 2015
116 Comments


Britain has announced plans to become the first major Western country to join a Chinese-led development bank, drawing a concerned response from the US.


The $50bn (£33.6bn) Asian Infrastructure Investment Bank (AIIB) has been feted by Beijing as a way of financing regional development, and is seen as a potential rival to US-based institutions such as the World Bank.


Chancellor George Osborne said Britain would join discussions with other founding members to set out the institution’s governance and accountability structures later this month, in a move to bolster relations with China.


“Forging links between the UK and Asian economies to give our companies the best opportunity to work and invest in the world’s fastest growing markets is a key part of our long-term economic plan,” Mr Osborne said in a statement.


“Joining the AIIB at the founding stage will create an unrivalled opportunity for the UK and Asia to invest and grow together.”

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The move drew a cautious response from Washington, a rare note of discord in the special relationship that follows criticism from the US about Britain’s falling defence spending.

“We believe any new multilateral institution should incorporate the high standards of the World Bank and the regional development banks,” said US National Security Council spokesman Patrick Ventrell.
“Based on many discussions, we have concerns about whether the AIIB will meet these high standards, particularly related to governance, and environmental and social safeguards.”
China and 20 other countries signed a memorandum of understanding to establish the Beijing-headquartered bank in October.

The bank has support from countries including India, Singapore, Malaysia, Cambodia, Pakistan, the Philippines, Uzbekistan and Vietnam. However, several major economies allied to the US, including Japan, South Korea and Australia, have declined to become founding members

[DRumsfeld2000]

Re: Why those back-stabbing Limey shi.........Britan to join China's new World bank !

A surprising and positive move by the UK. The UK is protecting its economic future.

[don]

Re: Why those back-stabbing Limey shi.........Britan to join China's new World bank !

A surprising and positive move by the UK. The UK is protecting its economic future.

At the cost of its "Special Relationship" ?

The $50bn (£33.5bn) bank, which is designed to provide infrastructure funds to the Asia-Pacific region, is viewed with great suspicion by Washington officials, who see it as a rival to the World Bank. They believe Beijing will use the bank to extend its soft power in the region.

In a rare public breach in the special relationship, the White House signalled its unease at Britain’s decision to become a founder member of the Asian Infrastructure Investment Bank (AIIB) by raising concerns about whether the new body would meet the standards of the World Bank. (that last bit is for levity sake)

[DRumsfeld2000]

Re: Why those back-stabbing Limey shi.........Britan to join China's new World bank !

"Special Relationship" LOL ;))

Do you not mean ''useful relationship"?

[Chris Coles]

Re: Why those back-stabbing Limey shi.........Britan to join China's new World bank !

At the cost of its "Special Relationship" ?

Sadly, today; the United Kingdom is only seen as a "patsy" by the State Department; fools to be rolled over at any and every opportunity. Without any debate, we have become an defense colony; never again permitted to create our own unique defense technology; never again to be free of their control over every aspect of our trade with every other nation on the planet.

And they still call themselves the guardians of freedom.

Now a VERY sick joke.

[dcarrigg]

Re: Why those back-stabbing Limey shi.........Britan to join China's new World bank !

A surprising and positive move by the UK. The UK is protecting its economic future.

You mean to say:

"A surprising and positive move by the City of London. The City is protecting its economic future."

Mike can let us know when/if any of that banker cash "trickles up" to Liverpool.

[don]

Re: Why those back-stabbing Limey shi.........Britan to join China's new World bank !

You mean to say:

"A surprising and positive move by the City of London. The City is protecting its economic future."

Mike can let us know when/if any of that banker cash "trickles up" to Liverpool.

+1

When Churchill spurned de Gaulle's offer that they unite in the face of US postwar hegemony the die was cast. A mere 1/2 century later it had transmogrified into Tony Blair.

[Mega]

Re: Why those back-stabbing Limey shi.........Britan to join China's new World bank !

Jim Rickards @JamesGRickards · 15 hrs15 hours ago

US reprimands UK over their decision to join new #China bank http://on.ft.com/18FyFv1 . But, no one cares what US thinks anymore. It's over.

[touchring]

Re: Why those back-stabbing Limey shi.........Britan to join China's new World bank !

The US can't even control it's own people, how can it control the UK?


http://www.usatoday.com/story/news/2...onse/70296720/
http://www.bbc.com/news/blogs-echochambers-27403003
http://time.com/2964493/ukraine-joe-...unter-burisma/

[llanlad2]

Re: Why those back-stabbing Limey shi.........Britan to join China's new World bank !

As Lord Palmerston, said way back : “England has no eternal friends, England has no perpetual enemies, England has only eternal and perpetual interests”

Personally I am very optimistic on the way the UK is going at the moment. In the background a clear energy policy is developing which is based around a "mixed energy supply" which includes huge investment in nuclear, gas, and tidal power. The banks are slowly getting sorted and the UK will inevitably benefit from the hundreds of thousands of frequently ambitious, youthful and educated economic EU migrants who have fled the basket case EU. And the housing shortage/cost of housing has now become a real political issue. Employment is high and wage rises are starting to break out. All positive.

[Mega]

Re: Why those back-stabbing Limey shi.........Britan to join China's new World bank !

I lived though the 70's (as a kid) in England............it went bakurpt!

The ONLY thing that saved it was the bulsh1t banking/Debt scam & NORTHSEA OIL/GAS.............both are going quickly now. I think we are going to see a MAJOR "re-a-just-ment" by Winter this year.............
mike

[Mega]

Re: Why those back-stabbing Limey shi.........Britan to join China's new World bank !

OZ just jumped ship as well !!!!!!!!!!!!!!!!!
http://www.zerohedge.com/news/2015-0...-regional-bank

[don]

Re: Why those back-stabbing Limey shi.........Britan to join China's new World bank !

Britain a bellwether?

Obama Goes After UK, Australia, the World for "Constant China Accommodation"; US Influence Clearly Waning

Constant China Accommodation

A major spat between the US and the UK broke out last week with the Obama administration attacking UK prime minister David Cameron and the UK for Britain's decision to join AIIB, a new China-sponsored financial institution that allegedly could rival the World Bank.

In particular, Obama accused David Cameron of "Constant China Accommodation".

The Obama administration accused the UK of a “constant accommodation” of China after Britain decided to join a new China-led financial institution that could rival the World Bank.

The rare rebuke of one of the US’s closest allies came as Britain prepared to announce that it will become a founding member of the $50bn Asian Infrastructure Investment Bank, making it the first country in the G7 group of leading economies to join an institution launched by China last October.

Thursday’s reprimand was a rare breach in the “special relationship” that has been a backbone of western policy for decades. It also underlined US concerns over China’s efforts to establish a new generation of international development banks that could challenge Washington-based global institutions. The US has been lobbying other allies not to join the AIIB.

Relations between Washington and David Cameron’s government have become strained, with senior US officials criticising Britain over falling defence spending, which could soon go below the Nato target of 2 per cent of gross domestic product.

A senior US administration official told the Financial Times that the British decision was taken after “virtually no consultation with the US” and at a time when the G7 had been discussing how to approach the new bank.

“We are wary about a trend toward constant accommodation of China, which is not the best way to engage a rising power,” the US official said.

US Pressure, Self-Serving Statement

In a self-serving if not downright idiotic statement, a US official claimed "Large economies can have more influence by staying on the outside and trying to shape the standards it adopts than by getting on the inside at a time when they can have no confidence that China will not retain veto powers."

I do not believe it's possible to ever have more influence on the outside than in. And certainly had the US, UK, other European nations, and Australia all gotten together on the inside, the position of the US is downright idiotic.

The US pressured Australia to not join the group. Australia initially relented, but now has had second thoughts.

Australia Shifts Stance

Please consider Australia Shifts Stance on China-Led Development Bank

Australia may overturn its opposition to joining the China-led Asian Infrastructure Investment Bank after the UK opted to sign up to the institution against the wishes of Washington.

The rethink by one of America’s key allies — alongside Japan and South Korea — that has not yet applied to join the $50bn bank before the March 31 deadline will further irk Washington, which is already angered by the UK ‘s move to become the AIIB’s maiden G7 member.

“I note that the UK has indicated an intention to sign up for the negotiations, the New Zealanders before Christmas signed up for the negotiations, the Singaporeans likewise, the Indians likewise,” said Tony Abbott, Australia’s prime minister.

“We’re looking very carefully at this and we’ll make a decision in the next week or so,” he told The Australian newspaper.

The UK’s move last week to join the AIIB has reopened the debate over whether Australia’s national interests lie with bolstering economic ties with China or deferring to the concerns expressed by its key military ally, the US.

“The UK joining the bank has given a good pretext for the government to rethink its original decision,” said Kerry Brown, director of the China Studies Centre at Sydney university. “There is a feeling it acted as a bit of a poodle of the US and it should take a more independent stance.”

France, Germany, Italy Join AIIB

Finally, please consider Europeans Defy US to Join China-Led Development Bank.

France, Germany and Italy have all agreed to follow Britain’s lead and join a China-led international development bank, according to European officials, delivering a blow to US efforts to keep leading western countries out of the new institution.

The decision by the three European governments comes after Britain announced last week that it would join the $50bn Asian Infrastructure Investment Bank, a potential rival to the Washington-based World Bank.

Australia, a key US ally in the Asia-Pacific region which had come under pressure from Washington to stay out of the new bank, has also said that it will now rethink that position.

The European decisions represent a significant setback for the Obama administration, which has argued that western countries could have more influence over the workings of the new bank if they stayed together on the outside and pushed for higher lending standards.

US Influence Clearly Waning

Clearly US influence on global financial matters is seriously eroded. I happen to think that is a good thing. Yet, please do not consider it an endorsement of AIIB, on which I have no opinion.

“We are wary about a trend toward constant accommodation of China, which is not the best way to engage a rising power.”

What about constant accommodation of a waning power?


globaleconomicanalysis.blogspot.com/#w8WRZMzWGHB3RUGA.99

[Mega]

Re: Why those back-stabbing Limey shi.........Britan to join China's new World bank !

By Agencies

11:46PM GMT 16 Mar 2015
52 Comments


France, Germany and Italy have joined Britain in signing up to the China-backed Asian Infrastructure Investment Bank (AIIB), dealing a further blow to the US government.

Australia is also believed to be rethinking its position to stay allied with the US and reject joining the $50bn bank, which is seen as a rival to the World Bank.


Last week the UK said it believed its decision to become a founding member of the AIIB was in the national interest, shrugging off US concerns about the move.


"There will be times when we take a different approach (to the United States)," a spokesman for Prime Minister David Cameron told reporters, referring to the decision to join the bank. "We think that it's in the UK's national interest."

The AIIB has been feted by Beijing as a way of financing regional development.


Britain's move drew a cautious response from Washington, but Mr Cameron's spokesman said the Prime Minister did not think the episode would damage London's ties with the US, and that Chancellor George Osborne had discussed the matter with his American counterpart beforehand.

• READ: The UK must resist taking sides as the US and China fight for financial supremacy
The AIIB would play "a complementary role" to other funding institutions, he said, and would help fill a genuine niche to provide additional investment to lower income countries in the Asia-Pacific region.
Britain would help ensure it upheld high standards of governance, he added, denying that the Government's decision to join the bank was part of a pattern of cosying up to Beijing too much.

Mr Osborne said on Thursday that Britain would join discussions with other founding members of the AIIB to set out the institution’s governance and accountability structures later this month, in a move to bolster relations with China.
“Forging links between the UK and Asian economies to give our companies the best opportunity to work and invest in the world’s fastest growing markets is a key part of our long-term economic plan,” Mr Osborne said last week.

“Joining the AIIB at the founding stage will create an unrivalled opportunity for the UK and Asia to invest and grow together.”

However, US National Security Council spokesman Patrick Ventrell voiced concerns over the decision.
“We believe any new multilateral institution should incorporate the high standards of the World Bank and the regional development banks,” he said.

“Based on many discussions, we have concerns about whether the AIIB will meet these high standards, particularly related to governance, and environmental and social safeguards.”

China and 20 other countries signed a memorandum of understanding to establish the Beijing-headquartered bank in October.

The bank has support from countries including India, Singapore, Malaysia, Cambodia, Pakistan, the Philippines, Uzbekistan and Vietnam

[touchring]

Re: Why those back-stabbing Limey shi.........Britan to join China's new World bank !

I've ready said that Ukraine is a very bad move and severely undermined the reputation of the US and US media such as CNN. Not to even mention the gains ISIS made in Iraq.

The world has no time for more childish intrigues.