Thanks to China, Christine Lagarde of the International Monetary - TopicsExpress



          

Thanks to China, Christine Lagarde of the International Monetary Fund, Jim Yong Kim of the World Bank and Takehiko Nakao of the Asian Development Bank may no longer have much meaningful work to do. Beijings move to bail out Russia, on top of its recent aid for Venezuela and Argentina, signals the death of the post-war Bretton Woods world. It’s also marks the beginning of the end for Americas linchpin role in the global economy and Japans influence in Asia. What is Chinas new Asian Infrastructure Investment Bank if not an ADB killer? If Japan, ADBs main benefactor, wont share the presidency with Asian peers, Beijing will just use its deep pockets to overpower it. Lagardes and Kim’s shops also are looking at a future in which crisis-wracked governments call Beijing before Washington. bloombergview/articles/2014-12-25/china-steps-in-as-worlds-new-bank
Posted on: Sat, 27 Dec 2014 18:27:26 +0000

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