And It Begins…A China Power Play….
In quick succession, the U.K., France, Italy, and Germany all agreed to become founding shareholders of the AIIB, a sign that they are eager to cozy up to Beijing and its $4 trillion in foreign reserves. Once upon a time, “the world was said to bow down before the mighty dollar. These days, even many of America’s closest allies have renminbi signs in their eyes.” This is an impressive “soft-power victory for China,” said the editors at Bloomberg View, and “Washington largely has itself to blame.” The U.S. has long called on China to take more of a role in … Continue reading And It Begins…A China Power Play….