EXOGEN: Interview: Japan, U.S. left behind as AIIB gets down to business, says Australian expert
English.news.cn 2015-04-15 11:10:09
by Marcus Casey
SYDNEY, April 15 (Xinhua) -- A leading Australian expert on Chinese affairs said Japan and the United States were now on the outer after declining to join the China-proposed Asian Infrastructure Investment Bank (AIIB) as founding members.
Founding membership will be finalized on Wednesday, but both nations have decided not to take part in the historic establishment of the Chinese-led bank which now has 50 prospective founding members, including economic powerhouses Germany, South Korea, Britain and France.
Instead of being part of the foundation stage, when the AIIB's ultimate structure and regulations will be established and where they could have been involved, Professor James Laurenceson of the University of Technology Sydney said the United States and Japan had lost their chance.
"The ball is now in the U.S. and Japan's court," Laurenceson, deputy director of the Australia China Relations Institute, told Xinhua. "The rest of the world has been pretty clear they're keen to draw China into the international fold. It's really just the U. S. and Japan that are sitting on the outside."
"Personally I think it would have been good for the U.S. and Japan to have joined. All their concerns would be far better managed if they were actually founding members of this bank," he added.
The major European nations and Australia resisted strong pressure from Washington by signing onto the AIIB.
"The big story of the last month or two is the broad support that the AIIB has attracted -- that's really what has changed," Laurenceson said.
"A group of countries like-minded with Australia have joined the bank. A broad coalition of nations is supporting China to take a more active role in economic management in one of the most important regions in the world."
The AIIB, once established, will provide financing for roads, railways, airports and other infrastructure projects in Asia.
Australia applied to join on March 29, two days before the cut- off date to be a founding member involved in the establishment process.
The Australian government last week announced that the former boss of the prime minister's department, Ian Watts, would head a team to negotiate Australia's position on the proposed AIIB.
Laurenceson said the United States and Japan were reluctant to change the current global financial balance of power held by the International Monetary Fund (IMF) and World Bank (WB), which they largely control.
Both countries have also expressed fears China would dominate the AIIB voting, but Laurenceson said the fact so many countries were now on board meant China's control was already diluted -- which he said is what China always wanted.
"The proposed AIIB is now clearly a more multilateral one," he told Xinhua. "China's intention in the beginning was for it to be a more multilateral institution."
"But it's still a challenge (to the United States and Japan). But the rest of the world doesn't see this as a problem."
The AIIB seeks to complement the roles of the IMF and WB. Voting rights for members in the AIIB will be based on their current GDPs.
As for corporate governance, Laurenceson said China had impressed upon the founding members that this was vital to the success of the new bank.
"I see China adopting very high standards and encouraging this bank to adopt very high standards, because if it doesn't it is going to reflect badly on its chief sponsor, which is China," he said.
"So China has every reason to make sure this bank maintains high standards in its lending processes and decisions on where to invest."
dmdsf > EXOGEN April 15, 2015 at 1:02am It was stated on the Landus conference call from 4/8/15 that the US joined the AIIB in the 11th hour. Then I read this article. Now I'm confused.
Finnick Odair > dmdsf April 15, 2015 at 1:06am That's the rumor and if true they haven't made it officially yet.
Susan > Finnick Odair April 15, 2015 at 12:36am More pressure on the USA. Yes, as Japan is in a world of financial hurt, (the US is but that is stating the obvious) and the whole globe is.
Awake-in-3D April 14, 2015 at 11:06pm While we are all watching every move Abadi makes and political speculations, and so on, the actual funding of the RV/GCR is happening right in front of us! LANDA Global is just one organization among several now channeling vast sums out into the global population. I don't pretend to understand all of what is going on here (however I do know a few things about this), but this is massively significant to what we are all anticipating. It surprises me greatly that no one is paying much attention to this as opposed to other, superfluous events that continuously prove to be anticlimactic at best and/or irrelevant after the fact. The pricing (payments) shown below is in $Billions and $Trillions! http://landachinaglobal.com/historic-assets.php
BlueBeach > Awake-in-3D April 14, 2015 at 11:14pm It's being watched Awake-n-3d ... however there is a difference between taking in the bonds and actually paying the person bringing the bonds - this is ZAP's 'money next week, next week, next week', for literally years now.
D.K.C. April 14, 2015 at 10:44pm Bluwolf "I am surprise that we haven't received the final phone call as of yet. " All is favorable. Blu
Millionday DID YOU SEE IN WASHINGTON THAT THE IMF AND THE WORLD BANK IS THERE AND ALSO SO MANY ECONOMIC MEETINGS BEFORE AS WELL.
IT CAUSES ASSUMPTIONS THAT THEY WILL BE INVOLVED WITH AN EVENT SO LARGE.
Bailey2: sczin11 WE MIGHT BE SEEING IN PRINT HERE, FOR THE FIRST TIME, IN TALKING ABOUT THE POSITIONS THAT ARE TEMPORARY AND NEED REPLACING, THE ONE WE HAVE BEEN LOOKING FOR SINCE THE FIRST RELEASE, SEVERAL WEEKS AGO.
Quote: "The administration positions proxy will end After the political blocs agree to provide the names of candidates to vote in the House of Representatives to fill these presidencies my own name."
IT APPEARS THEY ARE NAMING THE POSITIONS, AND THE NAMES, OF THOSE BEING QUESTIONED, REPLACED...I THINK.
IT STATES THE GOVERNOR OF THE CBI, KEYWORDS, IS ONE OF THE POSITIONS THAT IS EARMARKED AS TEMP AND WILL BE REPLACED. ALI ALAQ, MOSHIN ISMAIL, WHATEVER YOU WANT TO CALL HIM TODAY, THE ACTING GOVERNOR OF THE CBI, MALIKI SUPPORTER.
WHERE OR WHERE IS...SINAN AL SHABIBI, WOULD YOU SHOW YOUR FACE...OH HOW HAPPY, I WOULD BE!
[Jester] HI YA AND HAPPY TUESDAY MODS, PEEPS, LURKERS, AND CRITTERS...
[stellar] Jester WOW, I got here just in time. Hey Jester
[Jester] SO IT IS TACO TUESDAY DANGIT WHERE IS WHATUPNOWEH? SHEESH...
[Jester] SO WHAT'S HAPPENING... I DISTINCTLY REMEMBER EVERYONE WAS TALKING BEFORE I CAME IN.... HAHAHHAHA
[PollyP] Jester, a few days ago you mentioned something about the "holds" being dropped. Can you give us any more insight to that?
[Jester] PollyP INSIGHT... an instance of apprehending the true nature of a thing, especially through intuitive understanding... APPARENTLY NOT...
[Jester] SINCE THAT WAS A DIRECT STATEMENT.... AND INSIGHT INDICATES AN UNKNOWN YOU ARE TRYING TO FIGURE OUT.... HAHAHHAH
[Jester] AT THE TIME THAT IS WHAT HAD HAPPENED....
[Jester] IN REALITY IT IS A MOOT POINT NOW... SO NEITHER APPLIES....
[jojill] Jester did Abadi accomplish his goal in DC?
[Jester] jojill I WAS NOT THERE...
[jam777] Jester ... what did you mean last week about being reset to the 15th of this month, regards expectations we had earlier ???
[Jester] jojill IT WILL TAKE A BIT OF TIME TO FIGURE OUT WHAT ACTUALLY HAPPENED... IF ANYTHING....
[PollyP] Jester, okay, I am thinking that the holds were put back on by the Fed. Is that part correct?
[LH] Jester I was listening, but kind of feel like Luke Skywalker trying to figure out what Yoda just told him
[Jester] LH BECAUSE I NEVER FINISHED.... HAHAHHAAH
[Jester] PollyP YESTERDAY THE FED SHUT DOWN THE WIRES AND MONEY CANNOT TRANSFER....
[LdyFaith] Jester,,, please finish about the fed shutting down yesterday ?
[yambuta] Jester - Now back to today's events: What have you heard that may impact the Currency Reset and the Republic?
[Jester] HOLD ON... PHONE...
[payitforward] awaap did you have any info on that bank in alabama you mentioned last nite
[Patience] payitforward BRYANT BANK
[Jester] SORRY ABOUT THAT... GOT A COUPLE THINGS GOING ON IN REAL LIFE TONIGHT...
[pokerbrat] Jester I'm FED up with the FED. What's it going to take to get these J@€k@$es to do their jobs building assisted jumping???
[LdyFaith] Jester,, and more to say about the feds closing down yesterday ?
[LuCKyB] was the Fed packing up their press plates?? hope I hope
[Jester] pokerbrat SEE THE PROBLEM IS SIMPLE... NOW THAT WE ARE AWARE THAT IT IS ALL CONDENSED TO THE FED.... AND WE NOW KNOW THEY ARE FIGHTING THE WISHES OF THE UST.... IT ALL COMES DOWN TO WHO IS GOING TO TAKE CONTROL OF THAT ISSUE... THE FED BANK IS CONTROLLED BY THE PTB... AND THEY ARE NOT LETTING THE REST OF THE WORLD GET IT DONE...
[Jester] SEE EVERYONE KEEPS SAYING IT IS THE UST... THAT IS NOT THE ISSUE... AS I HAVE SAID BEFORE... NO ONE LISTENED... THE UST IS THE GOOD GUYS... IT IS THE FED THAT IS THE ISSUE...
[pokerbrat] Plan B or C? Now?
[Jester] pokerbrat THE FED CANNOT LAST MUCH LONGER... THEY DO NOT APPEAR TO KNOW IT.... BUT PLAN B WILL GET THEM... THAT IS WHY EVERYONE IN THE WORLD IS ON BOARD WITH PLAN B....
[Jester] SOO BAD WE DO NOT HAVE MORE TIME... WOULD HAVE BEEN A BETTER DISCUSSION....
[Jester] NIGHT NIGHT...