US scolds Britain for joining Chinese Development Bank.
 

US calls out Britain for applying for membership in a new Chinese development bank. China says the bank will deal with infrastructure work in Asia. Neither Japan nor the US is a member.

I guess the Brits have noted the Chinese juggernaut and want in. :D

http://www.bbc.com/news/world-australia-31864877

Until Americans face the fact that our exceptionally backward way of doing things isn't worth a hoot and start investing in our own industry, worrying about the proper education of our kids and not whether or not they are taught worthless religious fairytales in the classroom, this is how it's going to be. We will continue to lose, ultimately getting run over like a feral dog in the street.

Oh, and good for Britain! They're smart enough to see that we have lost our minds and that it's about to get far worse if douchebags like Cruz, Brownback and Cotton have their way and turn the once proud United States into giant revival tent full of glassy-eyed, idiotic, charlatan preacher following zombies.

Dave

Well put.
Because the US has dominant positions at the IMF and world Bank the said and similar politicians find themselves wielding undue influence.

Another dimension is that organization such as the IMF is riddled with western scamsters who often adhere to rigid formulas.

With China rising other nations will find ways to avoid American coercion.

A relevant article: "Why does the UK want to join China-led Development Bank?"
http://www.bbc.com/news/business-31867934

Meanwhile any number of major American brand products have 'Made in China' written on the bottom.

The great irony...we are China enablers.

Precisely. If you want to destroy the greedy, appeal to their greed. They will destroy themselves. Every American wants the high paying job, but refuses to pay the higher prices that support higher paying jobs for others....................

"I've been trying to get on at the widget factory, because I hear they pay well and have great benefits. But, I only buy widgets made in China because they are so much cheaper."

How in the hell is THAT supposed to work?:confused:

Dave

Damned if I know Dave, and I am not even an economist, not even a one armed one.

Now Germany and France.

http://www.bbc.com/news/business-31921011

And now Italy.

The European argument: "We are borrowing from China, it is already a major trading partner, so why shouldn't we join them on this?"

Note also from the below article that US law makers have refused to signed on
to a 2010 deal which would give China more voting power in the IMF while
preserving US veto power.

I guess this new bank is a way for China to flex its soft power.

http://america.aljazeera.com/article...orld-bank.html