{"id":6678,"date":"2015-03-20T07:34:38","date_gmt":"2015-03-20T12:34:38","guid":{"rendered":"http:\/\/olduvai.ca\/?p=6678"},"modified":"2015-03-20T07:34:38","modified_gmt":"2015-03-20T12:34:38","slug":"us-isolated-as-key-ally-japan-considers-joining-china-led-bank","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=6678","title":{"rendered":"US &#8220;Isolated&#8221; As Key Ally Japan Considers Joining China-Led Bank"},"content":{"rendered":"<h3 class=\"title\"><a href=\"http:\/\/www.zerohedge.com\/news\/2015-03-20\/us-cold-ally-japan-considers-joining-china-led-bank\" target=\"_blank\">US &#8220;Isolated&#8221; As Key Ally Japan Considers Joining China-Led Bank<\/a><\/h3>\n<p>Well, that escalated quickly.<\/p>\n<p>Just a week ago it appeared Washington had managed (for the time being at least) to convince the US\u2019 closest allies to refrain from joining the Asian Infrastructure Investment Bank, a sinocentric institution aimed at promoting development across Asia that is meant to rival the US\/Japanese-led ADB and begin a seismic shift away from the world\u2019s traditionally US-dominated institutions such as the World Bank and the IMF. Then, much to the chagrin of Washington, the UK\u00a0<a href=\"http:\/\/www.zerohedge.com\/news\/2015-03-13\/us-attacks-closest-ally-uk-constant-accommodation-china\">joined<\/a>\u00a0as a founding member calling it an \u201cunrivaled opportunity.\u201d<\/p>\n<p>As we and many other observers correctly noted at the time, the move by Britain could well embolden other countries who had expressed an interest initially but been deterred by pressure from Washington to reconsider their bids for membership. In (very) short order, everyone from Germany to Australia to\u00a0<a href=\"http:\/\/www.zerohedge.com\/news\/2015-03-19\/de-dollarization-accelerates-more-washingtons-allies-defect-china-led-bank\">Luxembourg<\/a>\u00a0was suddenly ready to cast their lot with the Chinese despite US warnings that the bank won\u2019t adopt the proper operational standards. As we said yesterday, the world is now wise to the fact that US criticism of the new venture is very likely nothing more than an attempt by The White House to undermine Chinese regional ambition:<\/p>\n<blockquote>\n<div class=\"quote_start\"><strong><em>&#8230;and that means in short order Australia and South Korea will likely be on board and at that point, the stigma the US has created around membership will have completely disappeared (if it hasn\u2019t already), opening the door for other US \u201callies\u201d to join despite the bank\u2019s alleged \u201clow\u201d standards.<\/em><\/strong><\/div>\n<\/blockquote>\n<p>Now, it appears the last valuable friend the US has in the bid to keep China from undercutting the ADB is beginning to consider a bid to join up. Here\u2019s more from\u00a0<a href=\"http:\/\/www.reuters.com\/article\/2015\/03\/20\/us-asia-aiib-idUSKBN0MG0CB20150320\">Reuters<\/a>:<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US &#8220;Isolated&#8221; As Key Ally Japan Considers Joining China-Led Bank Well, that escalated quickly. Just a week ago it appeared Washington had managed (for the time being at least) to convince the US\u2019 closest allies to refrain from joining the Asian Infrastructure Investment Bank, a sinocentric institution aimed at promoting development across Asia that is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[4313,130,418,434,452,827,888],"class_list":["post-6678","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-asia-infrastructure-investment-bank","tag-china","tag-imf","tag-international-monetary-fund","tag-japan","tag-united-states","tag-world-bank"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6678","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6678"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6678\/revisions"}],"predecessor-version":[{"id":6679,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6678\/revisions\/6679"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}