Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 20 October 2014 [View all]Demeter
(85,373 posts)28. Asian Infrastructure Investment Bank Opposed By US, Seen As Attempt To Boost Chinese Influence
http://www.ibtimes.com/asian-infrastructure-investment-bank-opposed-us-seen-attempt-boost-chinese-influence-1702665
A Chinese plan for an Asia-focused, multinational infrastructure development bank has attracted interest from some of its neighbors, and one big opponent: the United States.
The bank, to be known as the Asian Infrastructure Investment Bank (AIID), would receive US$50 billion in capitalization from China, and has attracted the interest of 21 countries in the region, including India, Thailand, Indonesia, South Korea and Singapore, according to Reuters.
The proposed bank's purpose would be to provide financial support for much-needed telecoms, energy and transportation infrastructure projects in the region.
With China looking to use its financial muscle to play a more assertive role on the international stage, officials and diplomats privately regard the bank as a challenge to the regional role of the Asian Development Bank, a Manila-based multilateral lender that is dominated by the U.S. and Japan, according to Bloomberg.
However, U.S. officials have engaged in a quiet but surprisingly vigorous campaign to persuade allies to shun the project, according to the New York Times. A senior Obama administration official quoted by the paper said the Treasury Department had concluded that the new bank would fail to meet environmental standards, procurement requirements and other safeguards...
HAS HE LOOKED INTO WHAT FAILS THE US BANK HAS PRODUCED?
A Chinese plan for an Asia-focused, multinational infrastructure development bank has attracted interest from some of its neighbors, and one big opponent: the United States.
The bank, to be known as the Asian Infrastructure Investment Bank (AIID), would receive US$50 billion in capitalization from China, and has attracted the interest of 21 countries in the region, including India, Thailand, Indonesia, South Korea and Singapore, according to Reuters.
The proposed bank's purpose would be to provide financial support for much-needed telecoms, energy and transportation infrastructure projects in the region.
With China looking to use its financial muscle to play a more assertive role on the international stage, officials and diplomats privately regard the bank as a challenge to the regional role of the Asian Development Bank, a Manila-based multilateral lender that is dominated by the U.S. and Japan, according to Bloomberg.
However, U.S. officials have engaged in a quiet but surprisingly vigorous campaign to persuade allies to shun the project, according to the New York Times. A senior Obama administration official quoted by the paper said the Treasury Department had concluded that the new bank would fail to meet environmental standards, procurement requirements and other safeguards...
HAS HE LOOKED INTO WHAT FAILS THE US BANK HAS PRODUCED?
Edit history
Please sign in to view edit histories.
37 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
Laura Poitras on Snowden and the Total Information Capture Approach to Surveillance
Demeter
Oct 2014
#13
LinkedIn’s “Economic Graph” as Algorithmic, Global Labor Brokerage and Panopticon
Demeter
Oct 2014
#16
Dallas hospital where one man died of Ebola and two more contracted the deadly virus has become a 'g
Demeter
Oct 2014
#22
Asian Infrastructure Investment Bank Opposed By US, Seen As Attempt To Boost Chinese Influence
Demeter
Oct 2014
#28
Frank Rich's (future) daughter-in-law, author Kathleen Hale, admits to stalking reviewer
Tansy_Gold
Oct 2014
#32