The many establishment analysts who portrayed the Communist Chinese dictatorship’s new Asian Infrastructure Investment Bank (AIIB) as a supposed “rival” to the Western globalist-led international economic order must be awfully embarrassed right now.
And those who believed them, hoping the brutal Beijing regime’s bank was going to stand up to the World Bank-International Monetary Fund axis in particular, must be sorely disappointed. It turns out the scandal-plagued World Bank and the Communist Party of China-controlled AIIB are going to be proud partners in globalism. Together, the organizations will seek to promote the dangerous agenda known as “sustainable development” while undermining national sovereignty across Asia by bankrolling regional integration.
In a barely noticed press release sent out last week, the Chinese autocrats’ international “development” organ, formally born just months ago, celebrated its first official joint financing agreement with the globalist World Bank. The two transnational mega-banks agreed to a “co-financing framework” that will facilitate joint AIIB-World Bank projects, including some that will begin this year. According to the announcement, the AIIB plans to approve some $1.2 billion in project financing this year, “with World Bank joint projects anticipated to account for a sizable share.” There are close to a dozen joint projects all over Asia being discussed right now in everything from transportation to water and energy, the banks said.
“I am delighted that today we are raising our partnership to a new level,” World Bank Group President Jim Yong gushed in a statement posted on the Washington, D.C.-based organization’s website. “Signing this agreement enables our institutions to finance development projects together, and that is an important first step toward working with a new partner to address the world’s huge infrastructure needs. As the world’s multilateral development banks collaborate ever more closely, leveraging each other’s financing and expertise, the people who will benefit the most will be the world’s poor.”
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