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Author Topic: Russia 'to join China-led development bank'  (Read 11508 times)

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Online 2tallbill

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Russia 'to join China-led development bank'
« on: March 28, 2015, 11:23:56 AM »
Russia 'to join China-led development bank'

Russia is to sign up to the Chinese-led development bank AIIB, first deputy prime minister Igor Shuvalov said Saturday at an international forum in China, cited by Russian news agencies.

"I'd like to inform you that Russian President Vladimir Putin has taken the decision that Russia will participate in the capital of the Asian Infrastructure Investment Bank (AIIB)," Shuvalov said at China's Boao Forum, quoted by RIA Novosti state news agency.

The Beijing-backed AIIB, unveiled in October, is a multinational lender that the United States perceives as a threat to the Washington-led World Bank.

It has proved highly successful with countries that are US allies, however, with Britain, Germany, France, Italy and this week South Korea all saying they intend to join the $50 billion (46 billion euro) bank.

Russia has sought to align itself more closely with China in recent years and these efforts have intensified amid a freeze in relations with the Western powers, which have imposed harsh economic sanctions over Moscow's role in the Ukraine conflict.

"We are glad to have the opportunity to build up cooperation in the format of China and the Eurasian Economic Union," Shuvalov said, referring to a free trade union championed by Putin made up of Russia, Kazakhstan, Armenia and Belarus, which came into force in January.

"We in Russia are sure that joint work in developing Eurasian partnership and the Silk Route economic belt will create further opportunities for the development of the countries of the Eurasian Union and China," he said.

There is more read all about it here
http://news.yahoo.com/russia-join-china-led-development-bank-100236095.html
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Offline jone

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Re: Russia 'to join China-led development bank'
« Reply #1 on: March 28, 2015, 12:01:56 PM »
Amazing how wonderful China has been to Russia recently.  Reminds me of a spider inviting a fly in for a cup of tea.  (Or a bite to eat.)
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Offline fathertime

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Re: Russia 'to join China-led development bank'
« Reply #2 on: March 28, 2015, 06:48:37 PM »
Nations (Including many allies) are lining up to join this Chinese infrastructure bank...against our (USA) wishes....it is a loss for us as we continue to lose the ability to financially dominate/pressure other nations to the extent we have in the past....we are appearing more and more isolated in our opposition to the Chinese bank.


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Offline ML

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Re: Russia 'to join China-led development bank'
« Reply #3 on: March 28, 2015, 08:20:09 PM »
Amazing how wonderful China has been to Russia recently.  Reminds me of a spider inviting a fly in for a cup of tea.  (Or a bite to eat.)

And amazing how the superior intellect Russian people don't see this coming.
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Re: Russia 'to join China-led development bank'
« Reply #4 on: March 28, 2015, 09:30:54 PM »
China has its own problems.  The Chinese leadership is not solving problems.  The economy is the largest in the world but it is still a poor country.  It will take decades before China has a Navy.  China is leap years ahead of Russia but that's like saying Reagan or Roosevelt is better leader than Obama.

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Re: Russia 'to join China-led development bank'
« Reply #5 on: March 28, 2015, 10:20:36 PM »
Nations (Including many allies) are lining up to join this Chinese infrastructure bank...against our (USA) wishes....it is a loss for us as we continue to lose the ability to financially dominate/pressure other nations to the extent we have in the past....we are appearing more and more isolated in our opposition to the Chinese bank.


Fathertime!

Nobody is "lining up" to join this Chinese bank and it's not against the wishes of us (USA). It is against the wishes of possibly the FED or central bankers. If possibly you'll ever stop looking at the forest and see the trees you might stop making such asinine statements as you have here. It's not nations against nations as it is bankers against bankers. Please put some thought into your posts

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Re: Russia 'to join China-led development bank'
« Reply #6 on: March 28, 2015, 10:22:00 PM »

And amazing how the superior intellect Russian people don't see this coming.

Please explain

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Re: Russia 'to join China-led development bank'
« Reply #7 on: March 28, 2015, 10:23:34 PM »
As long as it remains fully fiat based, it means nothing. 

If ever a country moves to back its currency with gold, silver, or some other material that cannot be printed into existence, then, that will be noteworthy.

It is just another hand, dressed differently, manipulated by the same puppet-masters.  Another muppet shows up on Sesame Street, that is all.
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Re: Russia 'to join China-led development bank'
« Reply #8 on: March 28, 2015, 11:43:44 PM »
Nobody is "lining up" to join this Chinese bank and it's not against the wishes of us (USA). It is against the wishes of possibly the FED or central bankers. If possibly you'll ever stop looking at the forest and see the trees you might stop making such asinine statements as you have here. It's not nations against nations as it is bankers against bankers. Please put some thought into your posts


YOU are whining about me putting thoughts (what you agree with) into MY posts...YOU,the know-it-all fool who has been moaning about the 'fed' and 'central banks'
and acting like you are the guru of banking...and yet didn't even know what the Chinese currency was called?    Guro...not....laughingstock is what you are when talking about banking. 


Yes there is a line up of members joining the Chinese bank....and YES it is against the wishes of our leadership...and NO the 'evil central bank' is not the one in charge...you have NOT made that point effectively at all...
PLEASE try thinking, before posting from a place of ignorance.


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Re: Russia 'to join China-led development bank'
« Reply #9 on: March 29, 2015, 08:36:53 AM »
I am not a fan of fiat currency.  But the facts are we are no where near $ 2,000 an ounce or $ 1,500 like the sales people were crowing over.  Also the dollar is doing better than the naysayers have predicted. 

I do think an audit of the Fed is required.  Maybe the Federal Reserve needs a rethink.  SOX and D-F need full repeals.  But the US still has the most productive and creative workers in the world.

Offline Gator

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Re: Russia 'to join China-led development bank' - DON'T WORRY
« Reply #10 on: March 29, 2015, 09:36:09 AM »
Quick summary - Don't Worry about the AIIB. 

The initials of the AIIB stand for Asian Infrastructure Investment Bank, and that is its exact purpose. 

The US considers it an unnecessary competitor to the World Bank and International Monetary Fund (both created by the 1944 Bretton Woods Conference) as well as the Asian Development Bank (founded in 1966).

Its purpose seems twofold:

 1) Expand financing of Asian infrastructure projects.  The existing financing institutions are deemed not to have the capacity to support the development of all infrastructure projects needed in Asia by 2020. 

2)  Accelerate approval of new construction.   The US claims the AIIB will be less concerned than the existing institutions with climate change, social, and environmental concerns   (coal-fired power plants,  roads in rain forests, relocation of people in dam impoundment areas, etc.).

The Chinese are taking the lead obviously to increase their role in development of Asia and to increase their financial clout. 

Most of the EU has joined the AIIB as well as Australia, Canada, South Korea, Mexico.  The only country rejected so far by the AIIB is the DPRK. I did not go through the list yet it seems only the US and Japan of the G-20 have not joined.   Participating will increase financial influence in Asia and provide a front seat to obtain construction contracts in Asia.   I have no insights yet expect the US will join when Obama is replaced.

The significance of Russia's  joining is minimal and should not make anyone nervous. 

Offline Brasscasing

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Re: Russia 'to join China-led development bank' - DON'T WORRY
« Reply #11 on: March 29, 2015, 03:07:26 PM »
Quick summary - Don't Worry about the AIIB. 

The initials of the AIIB stand for Asian Infrastructure Investment Bank, and that is its exact purpose. 

The US considers it an unnecessary competitor to the World Bank and International Monetary Fund (both created by the 1944 Bretton Woods Conference) as well as the Asian Development Bank (founded in 1966).

Its purpose seems twofold:

 1) Expand financing of Asian infrastructure projects.  The existing financing institutions are deemed not to have the capacity to support the development of all infrastructure projects needed in Asia by 2020. 

2)  Accelerate approval of new construction.   The US claims the AIIB will be less concerned than the existing institutions with climate change, social, and environmental concerns   (coal-fired power plants,  roads in rain forests, relocation of people in dam impoundment areas, etc.).

The Chinese are taking the lead obviously to increase their role in development of Asia and to increase their financial clout. 

Most of the EU has joined the AIIB as well as Australia, Canada, South Korea, Mexico.  The only country rejected so far by the AIIB is the DPRK. I did not go through the list yet it seems only the US and Japan of the G-20 have not joined.   Participating will increase financial influence in Asia and provide a front seat to obtain construction contracts in Asia.   I have no insights yet expect the US will join when Obama is replaced.

The significance of Russia's  joining is minimal and should not make anyone nervous.

I don't believe Canada's taken the plunge yet, Gator. There are concerns...

Canada lags as more countries join new China investment bank

..."The debate over whether to join the new infrastructure bank is complicated by a long-standing divide in the Conservative government over how to engage with an increasingly influential China. While some cabinet members favour greater economic engagement, others are reticent about getting too close to an authoritarian regime with a problematic human-rights record."...

www.theglobeandmail.com

I'm on the 'don't join' side. As far as I'm concerned any organization that includes Putin's Russia as a founding member does not need Canada's support and should be avoided. In fact, I'd go one step further and declare it should be adamantly/actively opposed.

It would be akin to joining the Basel Bank for International Settlements during the 1940's in my book.

As with the current joint US/Russia space program to build new space station. The west either starts isolating Russia in a meaningful way or concedes that Ukrainian lives and sovereignty mean nothing. We (the west) can't have it both ways.

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Re: Russia 'to join China-led development bank'
« Reply #12 on: March 29, 2015, 04:54:12 PM »

YOU are whining about me putting thoughts (what you agree with) into MY posts...YOU,the know-it-all fool who has been moaning about the 'fed' and 'central banks'
and acting like you are the guru of banking...and yet didn't even know what the Chinese currency was called?    Guro...not....laughingstock is what you are when talking about banking. 


Yes there is a line up of members joining the Chinese bank....and YES it is against the wishes of our leadership...and NO the 'evil central bank' is not the one in charge...you have NOT made that point effectively at all...
PLEASE try thinking, before posting from a place of ignorance.


Fathertime!

Poor baby, did you get your little feelings hurt? Your name calling doesn't suddenly inject intelligence into your post. Your position of ignorance remains unfettered. What is this US, WE, OUR shit? Have you got a mouse in your pocket?

Offline fathertime

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Re: Russia 'to join China-led development bank'
« Reply #13 on: March 29, 2015, 07:19:34 PM »
Poor baby, did you get your little feelings hurt? Your name calling doesn't suddenly inject intelligence into your post. Your position of ignorance remains unfettered. What is this US, WE, OUR shit? Have you got a mouse in your pocket?


...my feelings are just fine....I was merely calling out your ignorance, which in itself is not meant to be an 'intelligent' post.    You are free to continue to think about EVERYTHING is all about the 'evil Fed' etc etc...I won't be surprised if your last rattling breath will be a curse of the Central bank causing your own demise.... 


Meanwhile I will continue to hold the widely held position that the Chinese Infrastructure bank is something WE (our US representatives), are against....and the Allies peeling off and supporting the Chinese may be problematic and accelerate the erosion of our financial dominance going forward.  If YOU don't like to be lumped in with the rest of the US citizenry that is fine, but you are still be represented by these elected (and unelected) officials...it is a given that not every individual's viewpoints are represented to a T.  It is also a given that you are not a guru of banking so calling others 'ignorant' is a bit silly, as the post I made wasn't saying extraordinary/surprising things.


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Re: Russia 'to join China-led development bank' - DON'T WORRY
« Reply #14 on: March 30, 2015, 10:13:07 AM »
I don't believe Canada's taken the plunge yet, Gator. There are concerns...

You are correct.  From Wiki, "There are 46 members as of 30 March 2015. Argentina, Belgium, Canada, Mexico, South Africa, Taiwan, and Ukraine are under consideration of joining the AIIB. The United States and Japan have remained skeptical about the negotiation."

Thanks for the clarification. 


Quote
I'm on the 'don't join' side. As far as I'm concerned any organization that includes Putin's Russia as a founding member does not need Canada's support and should be avoided. In fact, I'd go one step further and declare it should be adamantly/actively opposed

Russia is far down on the list as a founder, joining in 2015 when most of Asia had joined in 2014.   


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Re: Russia 'to join China-led development bank'
« Reply #15 on: March 30, 2015, 10:37:34 AM »

Meanwhile I will continue to hold the widely held position that the Chinese Infrastructure bank is something WE (our US representatives), are against....and the Allies peeling off and supporting the Chinese may be problematic and accelerate the erosion of our financial dominance going forward. 

The goal should be making the pie bigger, the pie being the global economy.  I assert that sharing leadership will make the pie larger.   The colonialist era ended a long time ago.

China has certainly earned its right to have a leadership role and to take its own approach.  Besides, much new infrastructure construction is envisioned to expand trade between Europe and Africa (including superhighway and railway between China and Europe).   The US economy has benefitted from the past growth of the Chinese economy.     

Keep in mind that the US government under Obama is more about dividing the US pie rather than making the pie bigger. 
Who knows!  Maybe the new style of the AIIB will accomplish more for the global economy than the World Bank could do, being saddled with the UN culture and US ideas.  Then again, while the pie may grow larger, the US contends the quality will deteriorate.

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Re: Russia 'to join China-led development bank'
« Reply #16 on: March 30, 2015, 11:56:54 AM »
The goal should be making the pie bigger, the pie being the global economy.  I assert that sharing leadership will make the pie larger.   The colonialist era ended a long time ago.

China has certainly earned its right to have a leadership role and to take its own approach.  Besides, much new infrastructure construction is envisioned to expand trade between Europe and Africa (including superhighway and railway between China and Europe).   The US economy has benefitted from the past growth of the Chinese economy.     

Keep in mind that the US government under Obama is more about dividing the US pie rather than making the pie bigger. 
Who knows!  Maybe the new style of the AIIB will accomplish more for the global economy than the World Bank could do, being saddled with the UN culture and US ideas.  Then again, while the pie may grow larger, the US contends the quality will deteriorate.


Well I'm sure WE(The USA) have our reasons(many)for trying to undermine the Chinese bank.  Nevertheless it appears to be picking up steam...and yes China is earning it's right to have a leadership role, as much as most anybody else at least.   My hunch is, WE had better get used to a smaller role in the world, as it seems without question our dominance is sliding.  We can still have a very good quality of life so I don't see it as a bad thing. 


Fathertime!
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Re: Russia 'to join China-led development bank'
« Reply #17 on: March 30, 2015, 12:16:28 PM »
My hunch is, WE had better get used to a smaller role in the world, as it seems without question our dominance is sliding.  We can still have a very good quality of life so I don't see it as a bad thing. 



There are a few nations out there that when they obtain the upper hand, they will make sure America has no role and no quality of life. What kind of world would we live in if Russia, China, Iran, or North Korea were the dominant nations? I'd say it would be a very violent world.
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Re: Russia 'to join China-led development bank'
« Reply #18 on: March 30, 2015, 12:24:37 PM »
Fiat currency, is just another way to defraud people of their money and transfer it to the "1%" or whoever you want to designate as the ones in charge.

Right now, Chinese don't trust the banks much, yet there are 1 Billion of them and they save as much as they can, in gold, silver, real estate (paid for with cash).  When this happens (a move from fiat into non-leveraged real property), bankers are removed from the equation.

How can banksters skim the vig, if there is no money flow?  The AIIB is the same oligarchy as the people behind the Fed, the ECB, and yes, even the Russian central bank.

Inflate, increase money flow and velocity, and skim.  Rinse and repeat.
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US isolated as Australia and Russia join China's development bank
« Reply #19 on: March 31, 2015, 12:01:06 PM »
US isolated as Australia and Russia join China's development bank
Countries add to list of names signing up after Washington rebuked UK earlier this month


read all about it here

http://www.telegraph.co.uk/finance/economics/11502625/US-isolated-as-Australia-and-Russia-join-Chinas-development-bank.html


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Taiwan, Norway seek to join China-backed development bank
« Reply #20 on: March 31, 2015, 12:03:47 PM »
Taiwan, Norway seek to join China-backed development bank

Japan remains cautious about signing up to the China-led Asian Infrastructure Investment Bank (AIIB), indicating that Tokyo will miss the March 31 deadline for application, but both Taiwan and Norway said they would seek to join the institution.

Finance Minister Taro Aso reiterated Japan’s concerns about governance at the AIIB, its debt sustainability and environmental and social safeguards.

Denmark applies to join China-backed investment bank
South Korea sees gains for its infrastructure firms from joining China-backed bank
Canada lags as more countries join new China investment bank
“Unless these conditions are secured, Japan has no choice but to be very cautious about joining,” Aso told reporters after a cabinet meeting.

Taiwan sought to join the proposed development bank despite historical animosity and a lack of formal diplomatic relations between the island and China.

In a statement released late on Monday, Taiwan presidential office spokesman Charles Chen said joining the AIIB will help Taiwan in its efforts at regional economic integration and raise the possibility of joining other multinational bodies.

There is more read all about it here
http://www.theglobeandmail.com/report-on-business/taiwan-norway-seek-to-join-china-backed-development-bank/article23701100/
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Re: US isolated as Australia and Russia join China's development bank
« Reply #21 on: March 31, 2015, 12:36:16 PM »
US isolated as Australia and Russia join China's development bank
Countries add to list of names signing up after Washington rebuked UK earlier this month


read all about it here

http://www.telegraph.co.uk/finance/economics/11502625/US-isolated-as-Australia-and-Russia-join-Chinas-development-bank.html


So let China fund all these low interest development projects.  Then the world will start moaning about Chinese hegemony, rather than American.
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Re: Russia 'to join China-led development bank'
« Reply #22 on: March 31, 2015, 01:23:21 PM »

...my feelings are just fine....I was merely calling out your ignorance, which in itself is not meant to be an 'intelligent' post.    You are free to continue to think about EVERYTHING is all about the 'evil Fed' etc etc...I won't be surprised if your last rattling breath will be a curse of the Central bank causing your own demise.... 


Meanwhile I will continue to hold the widely held position that the Chinese Infrastructure bank is something WE (our US representatives), are against....and the Allies peeling off and supporting the Chinese may be problematic and accelerate the erosion of our financial dominance going forward.  If YOU don't like to be lumped in with the rest of the US citizenry that is fine, but you are still be represented by these elected (and unelected) officials...it is a given that not every individual's viewpoints are represented to a T.  It is also a given that you are not a guru of banking so calling others 'ignorant' is a bit silly, as the post I made wasn't saying extraordinary/surprising things.


Fathertime!   

FT you still don't get it and judging by the majority of your posts on this forum you'll never get it. One day perhaps you'll "get it" but the expectations are low. You live in a bubble fantasy FT with the idea that you actually know something when the sad truth is, you know nothing. All the wars you've witnessed in your lifetime, most all of the misery suffered in the world is a result of the 1% er's lust for profit. War, killing and death is profit. It makes them no difference who governs your country and misleads you into thinking you actually matter. Central banks, China Asian banks, FED really makes no difference. It's just the master you serve.

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Re: Russia 'to join China-led development bank'
« Reply #23 on: March 31, 2015, 02:24:14 PM »
FT you still don't get it and judging by the majority of your posts on this forum you'll never get it. One day perhaps you'll "get it" but the expectations are low. You live in a bubble fantasy FT with the idea that you actually know something when the sad truth is, you know nothing. All the wars you've witnessed in your lifetime, most all of the misery suffered in the world is a result of the 1% er's lust for profit. War, killing and death is profit. It makes them no difference who governs your country and misleads you into thinking you actually matter. Central banks, China Asian banks, FED really makes no difference. It's just the master you serve.


Oh boy....the funny thing is that you don't get the fact that i actually do get it.....I don't disagree with much of anything you said there...YET I think that our 'leaders/representatives' do  actually want to isolate the Chinese Infrastructure bank...of course a big part of that reason is ultimately  for OUR own benefit through more profits.  When I say 'our'  I don't mean YOU or ME...I mean OUR businesses, the big 1 per-centers of course..and a little of that may trickle to the general populace's way...which of course the 1%-ers like this so as to keep the country with some stability.   I'm pretty sure it is mostly a misunderstanding between our points here, although I'm probably a smidgen less cynical then you overall.   I also find it ignorant when people start waving the flag as if we are the 'world do-gooders'...I don't see it that way, unfortunately.  All that said, I support this country as we have the ability to make pretty good lives as we have been the best at whatever it is we do to maintain dominance...


Fathertime!   
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