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
Tag Archives: US dominance
China, Japan and Russia zero in on Latin America
Mexico City (AFP) – The leaders of China, Russia and Japan all descended on Latin America in recent weeks, jostling with the United States to increase their influence, invest and tap into resource-rich markets.
The latest arrival was Japanese Prime Minister Shinzo Abe, who on Monday was in Trinidad and Tobago, the second stop on a five-country tour that began on Friday in Mexico.
Abe’s visit began just as Chinese President Xi Jinping wrapped up his tour, which included stops in Brazil, Argentina, Venezuela and Cuba. Xi signed more than 100 trade agreements on the trip.
Russian President Vladimir Putin was in the region for a week from July 11, stopping in Argentina, Brazil, Nicaragua and Cuba. Continue reading
Nicaragua gives Chinese firm contract to build alternative to Panama Canal
Nicaragua has awarded a Chinese company a 100-year concession to build an alternative to the Panama Canal, in a step that looks set to have profound geopolitical ramifications. Continue reading