PrincessDD: Why MBIA Inc. Dropped 12% on Talk of a Puerto Rico Restructuring
Shares of MBIA plunged more than 15% as investors weigh probable losses resulting from Puerto Rico's "inevitable" restructuring. http://ift.tt/1GMyE3c
PrincessDD: Greece may have easier road to recovery than Puerto Rico http://ift.tt/1ehhgfd
PrincessDD; The next Greece may be in the U.S. (mentions Chicago and New Jersey) http://ift.tt/1HvVSR0
MY LADIES: OK SO LET'S TAKE A LOOK AT SOMETHING VERY VERY INTERESTING....
ARE WE READY????????
....
Shares of MBIA plunged more than 15% as investors weigh probable losses resulting from Puerto Rico's "inevitable" restructuring. http://ift.tt/1GMyE3c
PrincessDD: Greece may have easier road to recovery than Puerto Rico http://ift.tt/1ehhgfd
PrincessDD; The next Greece may be in the U.S. (mentions Chicago and New Jersey) http://ift.tt/1HvVSR0
MY LADIES: OK SO LET'S TAKE A LOOK AT SOMETHING VERY VERY INTERESTING....
ARE WE READY????????
....
MY LADIES: OK SO PLEASE READ THIS FOR ME...
http://ift.tt/1ehheUE
Sager: This may take a while lol. Is there anything specific you want us to zone in on?
MY LADIES: CAPITAL, FINANCES & OPERATIONS
I THINK WE CAN SAY THIS FURTHER AFFIRMS THAT THEY ARE WORKING WITH AND NOT AGAINST WESTERN INFLUENCED BANKS... WOULD WE AGREE???
MY LADIES: SO THEN WE KNOW CHINA HAS SO SO SO MANY DOLLARS CORRECT???
AND THEY ARE PUTTING THEIR USD INTO INFRASTRUCTURE RIGHT???
SO A THEORY OF HERBERTS...IS IT POSSIBLE THIS BANK MAY HAVE BEEN CREATED TO ABSORB THE OVER FLOW OF DOLLARS THAT WOULD NORMALLY TAKE OUR TREASURY YEARS UPON YEARS TO ABSORB AND PUT IT INTO INFRASTRUCTURE AROUND THE GLOBE???
Sager: 100 billion usd
MY LADIES: WELL IT SEEMS THAT'S JUST FOR STARTERS
TG: The QE dollars?
Dale: I think that China sees the damage that the derivatives have harmed US banks and they need an alternative that will not be associated w these toxic banks until the derivatives are wiped out and no longer an issue
TG: The Trillions that are backed by air? That would be great if it works
MY LADIES: ....GOOD QUESTION... BUT BACKED BY AIR OR NOT THERE ARE TRILLIONS OF THEM FLOATING AROUND...
Sager: Mary would that not be risky?
MY LADIES: AND I FIND IT INTERESTING THAT THIS MAJOR LEG OF BRICS IS BACKED BY USD
TG: Would they be absorbed into real assets? That was a surprise.
AIIB bonds might be a good future investment
Sager: That's in their plans as per the link that Mary provided
MY LADIES: HUMMM DID YOU READ THE PART ABOUT VOTING RIGHTS???
SO HERE IS VOTING RIGHTS FOR BRICS
The bank will be headquartered in Shanghai, China.[3] Unlike the World Bank, which assigns votes based on capital share, in the New Development Bank each participant country will be assigned one vote, and none of the countries will have veto power.[4]
AND HERE IS FOR AIIB
15. How is voting power in the AIIB calculated?
Members' voting power is the sum of their Basic Votes, Share Votes and, where applicable, Founding Member Votes. Basic Votes for all members constitute 12 percent of the total number of votes (Basic Votes, Share Votes and Founding Member Votes) at any time; an equal number of Basic Votes is allocated to each member. For Share Votes, each member has one vote for each share of capital stock held. Each Founding Member will also be allocated six hundred (600) Founding Member votes
JUST LIKE THE WORLD BANK AND MOST WESTERN BANKS...HUMMMMM
TG: No veto so no playing with the system the way the US is now
MY LADIES: OK SO NOW READ THIS... http://ift.tt/1nZF4WF
Sager: "Greece under the new government of Alexis Tsipras is seeking the possibility of joining the New Development Bank [21]" This caught my eye
MY LADIES: GOOD EYE…
OK SO IT SEEMS BRICS WILL BE USING THEIR OWN CURRENCY EACH COUNTRY
BUT THE SAME PEOPLE IN BRICS ARE THE SAME PEOPLE IN AIIB AND THE PEOPLE IN AIIB ARE RUNNING AN ASIAN VERSION OF A WESTERN BANK...DOES THAT SUM IT UP???
OK SO RIDDLE ME THIS...
WHY??? WHAT IS THE POINT??? IS THIS JUST GOING TO BE THE NEW WORLD BANK IN THE NEW SYSTEM??
Sager: I was going to ask that very question, but to you. Where is the newspaper lady going with this lol. Hmmm good question…. There definitely is a piece of information we're missing, because they wouldn't be doing this just for the hell of it
MY LADIES: WELL I NEED TO THINK TANK WITH NOVA AND HERBERT BUT I THINK THE ALL THINGS DEBT LADEN FROM OLD NEED TO GO..
SO THE WORLD BANK WOULD BE 1 OF THOSE THINGS IN THE DEBT BUBBLE CRASH..
Sager: Quick question, Isn't the IMF moving to Beijing?
MY LADIES: YES AND THE IMF IS BROKE TOO, AND IF THE LAND SLIDE CONTINUES MANY COUNTRIES WILL BE DEFAULTING TO THE IMF
Sager: Then could that be the eventual fall of the IMF? If they're broke, they can't serve a purpose... Which would usher in the new development bank?
MY LADIES: THAT ARTICLE ABOUT GREECE YOU JUST FOUND..I TRANSLATED IT AND IT TOOK PLACE ON MAY 13TH AND LOOK AT HOW GREECE WOULD HAVE TO CONTRIBUTE...
Last updated: 13.05.2015 | 13:00
Spread it:
Former Greek representative to the IMF, Panagiotis Roumeliotis takes ... mission to investigate whether Greece can participate in the new development bank of BRICS.
In his meeting Tuesday Vice Prime Yannis Dragasakis with the Union of Greek Banks discussed the government's intention to explore the opportunities for participation of Greece in New Development Bank of BRICS (New Development Bank) after a proposal submitted to the country us.
For that matter, the Deputy Prime Minister appointed as responsible for investigating these possibilities Panagiotis Roumeliotis.
Recall that according to the report newsit.gr any involvement in Development Bank of BRICS will be via a Fund which will be invited Greek shipowners, businessmen and investors.
Mission to investigate this possibility and finding the funds undertaken by Mr.. Roumeliotis.
MY LADIES: OH MY THIS IS ALL FALLING TOGETHER NOW....READ THE LAST 2 PARAGRAPHS SLOW....
Dale: surely it all has to do w moving away from fiat to asset backed banking
Sager: What would the funds be used for Mary? Any idea?
MY LADIES: OK SO THE AIIB MIGHT PROBABLY BE USING THE BANK AS A WAY TO FUNNEL ALL THE FLOATING DOLLARS AROUND, TAKE THEM IN , THEN LEND THEM BACK OUT AND TURN THEM INTO INFRASTRUCTURE AND SUCH
RR: I remember in the Armstrong article, he discussed the fact that the Greek economy was built on the small business man and that they could not have the same ability to have large exports like other countries in the Eurozone. For Greece to succeed, it would take a major fundamental changes in how they increase GDP. So this plan focuses on the little guy? (ie. Greek shipowners, businessmen and investors)
PrincessDD: Greece Floats New Bailout Proposal, Merkel Rules Out More Negotiations http://ift.tt/1GWLOwR
PrincessDD: COUNTDOWN TO EUROGEDDON: Greece To Default On €1.6 billion IMF Debt Repayment At Midnight Washington Time
The Associated Press
http://ift.tt/1ehhgfi
Bandito Rox: Finnish FinMin: Eurogroup says Greek bailout extension or debt haircut not possible
Greece is heading towards a default on a debt payment due Tuesday, with investors fretting over the possibility the country could exit the euro zone.
Meanwhile, a Greek media report has claimed that negotiations might restart between the government and the country's creditors.
We'll have all the new developments for you as well as the major market movements.
http://ift.tt/1HvonOC
MY LADIES: OK OK...LET'S HOLD UP ON GREECE FOR A MIN...I WANT TO CONTINUE THIS DISCUSIION PLEASE. SO THIS AIIB GIVES US A GOOD LOOK INTO THE FUTURE OF THE DOLLAR...
I THINK IT SPEAKS VOLUMES THAT THIS BANK HAS CAPITAL REQUIREMENT IN THE USD
AW: Apparently,.........the German investors have a greater stake in this than most.
PrincessDD: werent they each having to put in 500k each into it?
SM: So is it kinda like a Credit Union then?
MY LADIES: WELL I THINK BRICS IS MORE LIKE THE CREDIT UNION SOCKS...BUT AIIB IS JUST ANOTHER VERSION OF THE WORLD BANK RIGHT DOWN TO THE CAPITAL AND VOTING RIGHTS
IN THE NEAR FUTURE WHEN EVERYONE IS ON THEIR OWN CURRENCY WHAT WILL THEY DO WITH ALL THE DOLLARS??????
Sager: Could they absorb such an enormous amount of usd?
MY LADIES: WELL I GUESS IT DEPENDS ON HOW MUCH INFRASTRUCTURE THERE IS
100BILLION IS NOT A LOT WHEN YOU CONSIDER THERE ARE 57 MENBERS NOW AND THEY ALL NEED BILLIONS IN PROJECTS.
MY LADIES: WELL IT LOOKS LIKE THEY WILL FUNNEL THEM INTO THE AIIB AND THEN LEND THEM OUT AGAIN...JUST GENIOUS...AND THE BONDS WILL BE IN USD I'M SURE TOO
Sager: Possibly keep them as foreign reserves … some of them at least?
SM: Maybe slowly reduce the number of dollars in circulation over time, like a controlled landing?
MY LADIES: EXACTLY SOCKS...THAT IS EXACTLY IT...
Sager: Now that makes sense
MY LADIES: YEA IT DOES...
MY LADIES: WHAT IS THEIR REQUREMENT PRINCESS DID YOU SEE IT
PrincessDD: Russia is the 3rd largest shareholder in AIIB too.
Russia’s share in AIIB’s authorized capital will be $6.5 billion, said Russian Deputy Finance Minister Sergei Storchak after the signing ceremony, TASS reports.
“The share of Russia’s participation in AIIB will amount to $ 1.3 billion in monetary terms and $6.5 billion in the bank’s full authorized capital. That is, the paid capital amounts to 20 percent. In this case, Russia will possess 65,362 shares of the bank,” said Storchak adding that the bank’s board of directors will be joined by a Russian representative.
The authorized capital is divided into 1,000,000 shares with a value of $100,000 each.
AIIB will provide funds for the development of road systems, telecommunications and other infrastructure projects in the poorer regions of Asia. At the initial stage, AIIB will focus on creating a ‘New Silk Road’ – a system of trade routes linking the markets of Europe and Asia.
Experts consider AIIB a potential rival to the US-based IMF and World Bank. However, the head of the IMF, Christine Lagarde, said the IMF and the World Bank are ready to work with AIIB.
MY LADIES: OK VERY GOOD …. OK SO LOOK THIS IS INTERESTING TOO, RUSSIA IS NOT CONSIDERED AN OWNING COMPANY HERE LOOK
As a regional bank, the AIIB's regional members will hold the majority of capital stock—a minimum 75% except as otherwise agreed by the Board of Governors. This shareholding arrangement reflects the commitment and ownership of regional members.
Who may become a member of AIIB?
Membership in AIIB is open to members of the International Bank for Reconstruction and Development or the Asian Development Bank. The Board of Governors is responsible for decisions on new members.
Regional members are those located within areas classified as Asia and Oceania by the United Nations (see http://ift.tt/1200WGe), except as otherwise decided by the Board of Governors.
http://ift.tt/1ehheUE
Sager: This may take a while lol. Is there anything specific you want us to zone in on?
MY LADIES: CAPITAL, FINANCES & OPERATIONS
I THINK WE CAN SAY THIS FURTHER AFFIRMS THAT THEY ARE WORKING WITH AND NOT AGAINST WESTERN INFLUENCED BANKS... WOULD WE AGREE???
MY LADIES: SO THEN WE KNOW CHINA HAS SO SO SO MANY DOLLARS CORRECT???
AND THEY ARE PUTTING THEIR USD INTO INFRASTRUCTURE RIGHT???
SO A THEORY OF HERBERTS...IS IT POSSIBLE THIS BANK MAY HAVE BEEN CREATED TO ABSORB THE OVER FLOW OF DOLLARS THAT WOULD NORMALLY TAKE OUR TREASURY YEARS UPON YEARS TO ABSORB AND PUT IT INTO INFRASTRUCTURE AROUND THE GLOBE???
Sager: 100 billion usd
MY LADIES: WELL IT SEEMS THAT'S JUST FOR STARTERS
TG: The QE dollars?
Dale: I think that China sees the damage that the derivatives have harmed US banks and they need an alternative that will not be associated w these toxic banks until the derivatives are wiped out and no longer an issue
TG: The Trillions that are backed by air? That would be great if it works
MY LADIES: ....GOOD QUESTION... BUT BACKED BY AIR OR NOT THERE ARE TRILLIONS OF THEM FLOATING AROUND...
Sager: Mary would that not be risky?
MY LADIES: AND I FIND IT INTERESTING THAT THIS MAJOR LEG OF BRICS IS BACKED BY USD
TG: Would they be absorbed into real assets? That was a surprise.
AIIB bonds might be a good future investment
Sager: That's in their plans as per the link that Mary provided
MY LADIES: HUMMM DID YOU READ THE PART ABOUT VOTING RIGHTS???
SO HERE IS VOTING RIGHTS FOR BRICS
The bank will be headquartered in Shanghai, China.[3] Unlike the World Bank, which assigns votes based on capital share, in the New Development Bank each participant country will be assigned one vote, and none of the countries will have veto power.[4]
AND HERE IS FOR AIIB
15. How is voting power in the AIIB calculated?
Members' voting power is the sum of their Basic Votes, Share Votes and, where applicable, Founding Member Votes. Basic Votes for all members constitute 12 percent of the total number of votes (Basic Votes, Share Votes and Founding Member Votes) at any time; an equal number of Basic Votes is allocated to each member. For Share Votes, each member has one vote for each share of capital stock held. Each Founding Member will also be allocated six hundred (600) Founding Member votes
JUST LIKE THE WORLD BANK AND MOST WESTERN BANKS...HUMMMMM
TG: No veto so no playing with the system the way the US is now
MY LADIES: OK SO NOW READ THIS... http://ift.tt/1nZF4WF
Sager: "Greece under the new government of Alexis Tsipras is seeking the possibility of joining the New Development Bank [21]" This caught my eye
MY LADIES: GOOD EYE…
OK SO IT SEEMS BRICS WILL BE USING THEIR OWN CURRENCY EACH COUNTRY
BUT THE SAME PEOPLE IN BRICS ARE THE SAME PEOPLE IN AIIB AND THE PEOPLE IN AIIB ARE RUNNING AN ASIAN VERSION OF A WESTERN BANK...DOES THAT SUM IT UP???
OK SO RIDDLE ME THIS...
WHY??? WHAT IS THE POINT??? IS THIS JUST GOING TO BE THE NEW WORLD BANK IN THE NEW SYSTEM??
Sager: I was going to ask that very question, but to you. Where is the newspaper lady going with this lol. Hmmm good question…. There definitely is a piece of information we're missing, because they wouldn't be doing this just for the hell of it
MY LADIES: WELL I NEED TO THINK TANK WITH NOVA AND HERBERT BUT I THINK THE ALL THINGS DEBT LADEN FROM OLD NEED TO GO..
SO THE WORLD BANK WOULD BE 1 OF THOSE THINGS IN THE DEBT BUBBLE CRASH..
Sager: Quick question, Isn't the IMF moving to Beijing?
MY LADIES: YES AND THE IMF IS BROKE TOO, AND IF THE LAND SLIDE CONTINUES MANY COUNTRIES WILL BE DEFAULTING TO THE IMF
Sager: Then could that be the eventual fall of the IMF? If they're broke, they can't serve a purpose... Which would usher in the new development bank?
MY LADIES: THAT ARTICLE ABOUT GREECE YOU JUST FOUND..I TRANSLATED IT AND IT TOOK PLACE ON MAY 13TH AND LOOK AT HOW GREECE WOULD HAVE TO CONTRIBUTE...
Last updated: 13.05.2015 | 13:00
Spread it:
Former Greek representative to the IMF, Panagiotis Roumeliotis takes ... mission to investigate whether Greece can participate in the new development bank of BRICS.
In his meeting Tuesday Vice Prime Yannis Dragasakis with the Union of Greek Banks discussed the government's intention to explore the opportunities for participation of Greece in New Development Bank of BRICS (New Development Bank) after a proposal submitted to the country us.
For that matter, the Deputy Prime Minister appointed as responsible for investigating these possibilities Panagiotis Roumeliotis.
Recall that according to the report newsit.gr any involvement in Development Bank of BRICS will be via a Fund which will be invited Greek shipowners, businessmen and investors.
Mission to investigate this possibility and finding the funds undertaken by Mr.. Roumeliotis.
MY LADIES: OH MY THIS IS ALL FALLING TOGETHER NOW....READ THE LAST 2 PARAGRAPHS SLOW....
Dale: surely it all has to do w moving away from fiat to asset backed banking
Sager: What would the funds be used for Mary? Any idea?
MY LADIES: OK SO THE AIIB MIGHT PROBABLY BE USING THE BANK AS A WAY TO FUNNEL ALL THE FLOATING DOLLARS AROUND, TAKE THEM IN , THEN LEND THEM BACK OUT AND TURN THEM INTO INFRASTRUCTURE AND SUCH
RR: I remember in the Armstrong article, he discussed the fact that the Greek economy was built on the small business man and that they could not have the same ability to have large exports like other countries in the Eurozone. For Greece to succeed, it would take a major fundamental changes in how they increase GDP. So this plan focuses on the little guy? (ie. Greek shipowners, businessmen and investors)
PrincessDD: Greece Floats New Bailout Proposal, Merkel Rules Out More Negotiations http://ift.tt/1GWLOwR
PrincessDD: COUNTDOWN TO EUROGEDDON: Greece To Default On €1.6 billion IMF Debt Repayment At Midnight Washington Time
The Associated Press
http://ift.tt/1ehhgfi
Bandito Rox: Finnish FinMin: Eurogroup says Greek bailout extension or debt haircut not possible
Greece is heading towards a default on a debt payment due Tuesday, with investors fretting over the possibility the country could exit the euro zone.
Meanwhile, a Greek media report has claimed that negotiations might restart between the government and the country's creditors.
We'll have all the new developments for you as well as the major market movements.
http://ift.tt/1HvonOC
MY LADIES: OK OK...LET'S HOLD UP ON GREECE FOR A MIN...I WANT TO CONTINUE THIS DISCUSIION PLEASE. SO THIS AIIB GIVES US A GOOD LOOK INTO THE FUTURE OF THE DOLLAR...
I THINK IT SPEAKS VOLUMES THAT THIS BANK HAS CAPITAL REQUIREMENT IN THE USD
AW: Apparently,.........the German investors have a greater stake in this than most.
PrincessDD: werent they each having to put in 500k each into it?
SM: So is it kinda like a Credit Union then?
MY LADIES: WELL I THINK BRICS IS MORE LIKE THE CREDIT UNION SOCKS...BUT AIIB IS JUST ANOTHER VERSION OF THE WORLD BANK RIGHT DOWN TO THE CAPITAL AND VOTING RIGHTS
IN THE NEAR FUTURE WHEN EVERYONE IS ON THEIR OWN CURRENCY WHAT WILL THEY DO WITH ALL THE DOLLARS??????
Sager: Could they absorb such an enormous amount of usd?
MY LADIES: WELL I GUESS IT DEPENDS ON HOW MUCH INFRASTRUCTURE THERE IS
100BILLION IS NOT A LOT WHEN YOU CONSIDER THERE ARE 57 MENBERS NOW AND THEY ALL NEED BILLIONS IN PROJECTS.
MY LADIES: WELL IT LOOKS LIKE THEY WILL FUNNEL THEM INTO THE AIIB AND THEN LEND THEM OUT AGAIN...JUST GENIOUS...AND THE BONDS WILL BE IN USD I'M SURE TOO
Sager: Possibly keep them as foreign reserves … some of them at least?
SM: Maybe slowly reduce the number of dollars in circulation over time, like a controlled landing?
MY LADIES: EXACTLY SOCKS...THAT IS EXACTLY IT...
Sager: Now that makes sense
MY LADIES: YEA IT DOES...
MY LADIES: WHAT IS THEIR REQUREMENT PRINCESS DID YOU SEE IT
PrincessDD: Russia is the 3rd largest shareholder in AIIB too.
Russia’s share in AIIB’s authorized capital will be $6.5 billion, said Russian Deputy Finance Minister Sergei Storchak after the signing ceremony, TASS reports.
“The share of Russia’s participation in AIIB will amount to $ 1.3 billion in monetary terms and $6.5 billion in the bank’s full authorized capital. That is, the paid capital amounts to 20 percent. In this case, Russia will possess 65,362 shares of the bank,” said Storchak adding that the bank’s board of directors will be joined by a Russian representative.
The authorized capital is divided into 1,000,000 shares with a value of $100,000 each.
AIIB will provide funds for the development of road systems, telecommunications and other infrastructure projects in the poorer regions of Asia. At the initial stage, AIIB will focus on creating a ‘New Silk Road’ – a system of trade routes linking the markets of Europe and Asia.
Experts consider AIIB a potential rival to the US-based IMF and World Bank. However, the head of the IMF, Christine Lagarde, said the IMF and the World Bank are ready to work with AIIB.
MY LADIES: OK VERY GOOD …. OK SO LOOK THIS IS INTERESTING TOO, RUSSIA IS NOT CONSIDERED AN OWNING COMPANY HERE LOOK
As a regional bank, the AIIB's regional members will hold the majority of capital stock—a minimum 75% except as otherwise agreed by the Board of Governors. This shareholding arrangement reflects the commitment and ownership of regional members.
Who may become a member of AIIB?
Membership in AIIB is open to members of the International Bank for Reconstruction and Development or the Asian Development Bank. The Board of Governors is responsible for decisions on new members.
Regional members are those located within areas classified as Asia and Oceania by the United Nations (see http://ift.tt/1200WGe), except as otherwise decided by the Board of Governors.
MY LADIES: OK OK HOLD ON A MIN PRINCESS...LET'S LOOK AT THIS A LITTLE CLOSER
SO ACCORDING TO THAT LINK RUSIIA IS NOT AN OWNING MEMBER
WE HAVE
142 Asia
143 Central Asia
030 Eastern Asia
034 Southern Asia
035 South-Eastern Asia
145 Western Asia
AND WE HAVE..
009 Oceania
053 Australia and New Zealand
054 Melanesia
057 Micronesia
061 Polynesia
BUT AUSTRALIA AND NEW ZEALAND ARE...VERY VERY INTERESTING..
EVERY ONE ELSE ARE CALLED MEMBER COUNTRIES..
OK SO ALL THE CRAZINESS ABOUT THE AIIB BEING SOMETHING OMINOUS FOR THE USA TURNS OUT TO BE NOTHING MORE THAN A WESTERN BANK HELD IN ASIA..LOL...
SO IRAN MADE THEIR CONTRIBUTION YESTERDAY AND THEY DID IT DOLLARS..
SO THAT EXPLAIND HOW THAT WAS DONE WITH THE SANCTIONS STILL ON IRAN..
AND ALL THE FUSS ABOUT IRAQ JOINING, WELL THEY HAVE TO USE USD TOO NOT DINAR.
BUT THE GOOD NEWS IS THAT IRAN AND IRAQ ARE OWNING COUNTRIES UNDER WESTERN AND SOUTHERN ASIA
PrincessDD: Why US Allies Are Happy to Join China’s AIIB
The China-led Asian Infrastructure Investment Bank (AIIB) has swept up U.S. allies.
On June 29, representatives of 50 countries gathered in Beijing to sign the legal framework agreement to establish the $100 billion Asian Infrastructure Investment Bank (AIIB). Seven more countries are expected to sign, bringing the total number of founding AIIB members to 57. The institution will launch with China having a 30.4 percent share of the AIIB’s equity, followed by India (8.5 percent) and Russia (6.7 percent). The two notable absentees are the United States and Japan. Key NATO allies of the U.S., like Germany, France and the United Kingdom, have opted to join the AIIB. Germany will have the largest non-Asian stake (4.1 percent).
Of all its allies, why did only Japan stand with the United States on an issue with strategic implications? The new AIIB will symbolize China’s rise as a financial superpower, guiding the world’s biggest infrastructure financing institution. Whatever their reservations about China’s financial rise, most countries see it as a fact of life that cannot be stalled by staying out of the AIIB. They would rather be inside it, getting a share of the infrastructure orders that the AIIB will finance.
U.S. President Barack Obama says China may steer AIIB loans to meet political or strategic considerations rather than economic. So, the AIIB will have lower lending standards than existing multilateral institutions like the World Bank and Asian Development Bank, and undercut their effectiveness. Japan echoes this sentiment.
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