World Bank rival launched in Beijing (Video)

Ron Aldof Mon, 01/18/2016 - 01:22

 The Chinese-initiated Asian Infrastructure Investment Bank (AIIB) has recently gained traction as major Western economies, including Britain, Germany and France, decided to join it. Close U.S. allies in Asia -- South Korea, Australia and Japan -- have yet to make their decisions. (Image credit: Kobiz Media/Korea Bizwire)

 Rand Paul is correct when he says our debt is the biggest threat to our national security. I wish he would mention the Chinese and the new banking system they are building. With an explanation on how it will crush our economy once it gets a major foothold.

"The Chinese President Xi Jinping launched a new international development bank on Saturday in Beijing that is being seen as a rival to the US-led World Bank.

US opposition has failed to deter its allies from signing up to the Asian Infrastructure Investment Bank, including Australia, Britain, Germany and South Korea.

The AIIB is expected to lend between 10 and 15 billion dollars annually for the first few years and will concentrate on infrastructure projects.

“It is critical to address this need because good infrastructure is a foundation for robust economic growth and expands economic opportunities and improves the quality of life for everyone,” said Jin Liqun, President of AIIB."

More with video on link:

What is the category of this post? (choose up to 2): 
Ron Aldof's picture
About the author
#IStandWithRandAndLiberty! Let's get back to Liberty and Freedom. Trump is working with the Establishment.
The Cat's picture

Maybe they'll have to create a new one, since those brown people probably don't speak Chinese.  We've got to get troops over there quick.  Can't have a country not subscribe to the World Bank.  McCain has another chance to continue his rabid fear mongering on the Senate floor and all over the MSN.  (sigh)