Over 40 countries applied to become founding members of the China-backed Asian Infrastructure Investment Bank (AIIB) before the March 31 deadline, doubling the size of the bank from Beijing’s initial conception.
The applications showed that the planned bank, which has been seen as posing a challenge to the Asian Development Bank (ADB) and a possible threat to the International Monetary Fund and the World Bank, is supported by both developed and emerging economies. Continue reading
This is obviously a white washing article with a pro-China and Russia stance, but noteworthy in regards to what ‘the other side’ is doing. It conveniently leaves out the fact that both SCO nations are waging economic warfare against the United States, thus contributing in part the state of affairs it is in today. This is not to say the USA isn’t fiscally reckless, but that’s only one part of the many problems it faces.
China has been notably relaxed about her own people acquiring gold, and the government itself appears to be absorbing all of China’s mine output. Russia is also building her official reserves from her own mine supply. The result over time has been the transfer of aboveground gold stocks toward these countries and their allies. The geo-political implications are highly important, but have been ignored by western governments.
China and Russia see themselves as having much in common: They are coordinating security, infrastructure projects and cross-border trade through the Shanghai Cooperation Organisation. Furthermore, those at the top have personal experience of the catastrophic failings of socialism, which have not yet been experienced in Western Europe and North America. Consequently neither government subscribes to the economic and monetary concepts prevalent in the West without serious reservations. Continue reading
The campaign is driving the two most powerful nations in mainland Europe closer together. EU President Herman Van Rompuy said the debt crisis is now causing a “Europeanization of national political life.”
The Associated Press writes: “The cross-border campaigning reflects a more concerted effort toward the erosion of national sovereignty that leaders like Merkel see as the way for debt-laden Europe to survive in a world increasingly dominated by Asian economic powers such as China.”
Mr. Sarkozy’s competitor, Socialist François Hollande, would oppose everything that Chancellor Merkel is trying to do in Europe—which is pushing her to forcefully support Sarkozy.
Meanwhile, if Sarkozy wins the election, he will be in Merkel’s debt. He is already pushing France to follow Germany’s lead. This support in the election makes France even more subordinate to Germany.
The German-led EU has overturned governments in Greece and Italy. Now Chancellor Merkel is trying to keep a friendly one in power in France. Germany’s dominance of Europe is made clearer every day.
Full article: Merkel Campaigns for Sarkozy Presidential Election (The Trumpet)