The end of dollar? - One after losing his allies in Washington

Despite the express wish of Washington and Tokyo European and Asian allies have been reported in connection with their line of Beijing Asian development bank. Washington fears that the new bank is a deliberate challenge to the II. post-World War II institutions that dominate Washington and contribute to the de-dollarizációs process.

On March 12, a bomb exploded in the policy that, despite opposition from Washington, wants to be a founding member of London will soon be set up by the Beijing Asian Infrastructure Development Bank (AIIB). London lines were broken after the entry of dominoes and a few days in Germany, France, Turkey, the Netherlands, Switzerland and Luxembourg have announced their intention to join. After that, the dams and Asia átszakadtak last week in South Korea and Australia also officially marked the entry of the US and Japan, even though he tried to dissuade his allies. Brazil last Friday accepted the invitation. Among the Europeans in the last few days the real rivalry broke out in Beijing AIIB színhelyéért European headquarters.

The creation of the China AIIB fixing agreement in addition to representatives of 21 Asian countries was signed in December 2014, including Singapore, Malaysia and Kazakhstan as well. The non-Western powers over the years have tried to push through an amendment to the IMF's decision-making structure of the proposal, but the Western countries, despite their economies stagnant stubbornly clung to the leadership role, so the IMF reform became hopeless. Among other things, the reason it was decided to AIIB Formation, which is the international lending from the IMF and the World Bank's concurrence. China on March 31 was identified as the application deadline.

The challenge for Beijing


Washington has voiced reservations on the new institution, highlighting the shortcomings of the environmental standards, the purchasing conditions and other securities in respect of which the World Bank, the International Monetary Fund and also Western-dominated Asian Development Bank to apply for the projects. But basically Washington fears that the AIIB a deliberate challenge to the II. post-World War II institutions that dominate Washington. The Asia-Pacific region, the US and China have long been struggling with the economic and political supremacy. The AIIB, of course, will contribute to the so-called 'de-dollarizációs' process, which Washington has been developing its rivals. The Chinese have a good time trying to build up the yuan too, as an alternative global currency.

Seeing allies turnaround in Washington last week, takes away the opposition and said that it will encourage the World Bank and the Asian Development Bank's cooperation with the AIIB. Japan is still left outside and cautiously approached the subject. But Finance Minister Taro Aces - who leads the fraction of those who wish to join in the Tokyo government - said that Tokyo is considering the launch of negotiations on membership.



Russia prefers the development of the Silk Road


Moscow, of course, did not want to miss a strategic ally of large financial operations. Deputy Prime Minister Igor Szuvalov Saturday announced the Boao Forum in China's interest to join Russia. Szuvalov pointed out that "We look forward to the Eurasian Economic Union and China for further cooperation. The free flow of goods and capital closer to Europe and Asia, the economies of the EU. This is complemented with the Chinese initiative, which includes the development along the old Silk Road Economic Zone as well. "