China just economically slapped America in the face, and America’s Homies did nothing about it.
China has developed, and is leading the AIIB, which stands for the Asian Infrastructure and Investment Bank. The main purpose of this bank is to:
- Provide finance to infrastructure projects in the Asia region
The United States didn’t want their European Allies to join the Bank. Reasons for this were:
- doubt that the AIIB will have high standards of administration.
- further doubts whether the AIIB would have high environmental, and social standards in projects it would invest in.
U.S. Treasury Secretary Jack Lew Called the British finance Minister George Osborne, and was like yo homie don’t roll with them. But the British were like, they got mega gwap we gonna see what it do over there.
So once the British decided to be down, Germany, France, Luxembourg, Switzerland, and Italy, also announced that they was rolling with the Chinese.
This is a major shift in world geopolitical and economic power. It not only shows that China will have a direct financial influence in developing markets, but will also be directing some of the financial plans of its new European economic allies in these developing Asian countries.
The United States is very Salty about this, and at first US Treasury Secretary, Jacob Lew, was like Washington has doubts if the China-led bank will be able to “adhere to the kind of high standards that the international financial institutions have developed.”
He also further displayed his Saltyness, I mean concern, by asking:
“Will it protect the rights of workers, the environment, will it deal with corruption issues appropriately?” Lew asked.
The United Sates is also aggy because they fear the AIIB will compete with the IMF and World Bank which are U.S led financial institutions.
Some 57 countries have joined the Asian Infrastructure and Investment Bank. including but not limited to Sweden, Israel, South Africa, Germany, Indonesia, Portugal, United Kingdom and Brazil.