Wednesday, January 7, 2015

New Zealand signs on to join Chinese World Bank alternative

On Jan. 5, New Zealand became the 24th nation to sign on and join as a founding member the Asian Infrastructure Investment Bank (AIIB) which will act as an alternative to the Western run World Bank.

The AIIB is a brain child of the new Chinese expansion in Asia, and will act in a duplicate function to the IMF and World Bank, but without the forced austerity and political measures demanded from the Western led monetary agency.  The AIIB also joins with Russia’s new SWIFT mechanism and paves the way for a future global trade system that runs outside the dollar and the U.S. dominated reserve currency.


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