China Setting The Stage For Global Financial Order

by Ariel Noyola Rodríguez During the first Annual Summit organized by the Asian Infrastructure Investment Bank (AIIB) in Beijing, China has shown her intention to take over the global leadership in infrastructure investment. By the end of this year, AIIB would have more than 100 members, making it the first lending institution in multilateral loans in history, under the control of the most important emerging countries. Yet, it is expected that she makes the decision of dropping off the Dollar...
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China Formally Establishes AIIB

The Chinese-led Asian Infrastructure Investment Bank (AIIB) was formally established on Friday, and is expected to be operational by early next year, local media reported Friday."The AIIB is legally established as the Articles of Agreement take effect today," Chinese Finance Minister Lou Jiwei was quoted by the Xinhua news agency as saying. The bank will become fully operational after its board of directors and executive council meet at an opening ceremony scheduled for January 16-18, Xin...
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BRICS Development Bank to Compliment AIIB

The BRICS New Development Bank and the Asian Infrastructure Investment Bank (AIIB), both seen as alternatives to US – led institutions, will not compete, but rather complement each other, said the head of the Central Bank of Russia Elvira Nabiullina. Nabiullina made the statement Thursday in Washington where she is attending the spring meetings of the International Monetary Fund and World Bank. "I don't think there's less energy (around the BRICS bank). We didn't feel that. To the contrary, ...
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China’s new Development Bank seen as embarrassment for Obama

China's new development bank, which was announced just five months ago, is becoming a massive headache for the US. Try as it might, the US government can't persuade its allies to stop joining the Asian Infrastructure Investment Bank (AIIB). The bank will be a bit like the World Bank, providing loans to developing countries in Asia for infrastructure projects. Unlike the World Bank, China will hold the reins of the AIIB. The US administration is publicly worried that the institution will...
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Australia & Denmark apply to join China-led bank

Australia and Denmark, despite previous American objections to the move, say they will join a new Beijing-backed investment bank that some in Washington say could supplant the US-dominated International Monetary Fund. In a testament to China’s growing economic clout on the global stage, western countries are lining up to join the Asian Infrastructure Investment Bank, or AIIB. Australian Prime Minister Tony Abbott and Treasurer Joe Hockey expressed their country’s willingness to join AIIB a...
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