Saturday, October 25, 2014

China launches Empire new 5th Reich Bank to rival old 4th Reich World Bank

Chinese President Xi Jinping (C) shows the way to the guests of the Asian Infrastructure Investment Bank at the Great Hall of the People in Beijing on October 24, 2014
(AFP Photo / Takaki Yajima)

In a landmark achievement, 21 Asian nations including China and India on Thursday signed on a new infrastructure investment bank which would rival the World Bank.
The governments of Bangladesh, Brunei Darussalam, Cambodia, China, India, Kazakhstan, Kuwait, Lao PDR, Malaysia, Mongolia, Myanmar, Nepal, Oman, Pakistan, Philippines, Uzbekistan, Qatar, Singapore, Sri Lanka, Thailand, Uzbekistan, Vietnam signed on as founding members of the new Asia Infrastructure Investment Bank (AIIB) in Beijing on Friday.
One of the first projects of the new Bank is expected to be financing infrastructure projects along the “Silk Road Economic Belt” and the “Maritime Silk Road” re-establishment.
Chinese Finance Minister Lou Jiwei said on Friday the “multi-national financial institution which is fair, just, open … with a good governance structure” will be an “efficient financing platform for infrastructure”.
Lou said the AIIB has a different focus than established multilateral organizations such as World Bank and Asian Development Bank (ADB).
China and other emerging economies, including BRICS, have long protested against their limited voice at other multilateral development banks, including the World Bank, International Monetary Fund and Asian Development Bank.
China is grouped in the ‘Category II’ voting bloc at the World Bank while at the Asian Development Bank, China with a 5.5 per cent share is far outdone by America’s 15.7 per cent and Japan’s 15.6 per cent share.
The ADB has estimated that in the next decade Asian countries will need $8 trillion in infrastructure investments to maintain the current economic growth rate.
Chinese President Xi Jinping had last October proposed to establish the AIIB to boost Asian economic integration and infrastructure projects like roads, railways, ports across the region. The new Bank has a capital target of more than $100 billion.
US allies Japan and Australia alongwith South Korea and Indonesia are notable absentees from the list of nations who signed up for the China-led Bank. The AIIB will extend China’s financial reach and compete not only with the World Bank, but also with the Asian Development Bank, which is heavily dominated by Japan.
In July, World Bank Group President Jim Yong Kim said that he welcomed a new multilateral infrastructure bank, saying there was a “massive need” for new investment in this area.


For our SEAWAPA project, our corporate members in Laos will be working closely with the Lao government and AIIB proposals and will analyze the offers against World Bank and ADB counterpart.

Please take in consideration of the Jesuit aim:
http://www.seawapa.co/2014/10/japans-domestic-disaster-god-using.html