In March, the United Kingdom declared that it would join China and 27 other nations including India, Australia, New Zealand, Indonesia, Thailand, Vietnam, the Philippines, Qatar and Iran, in founding the Asian Infrastructure Investment Bank (AIIB), an instrument of Chinese foreign policy in the region. Days later, the UK was joined by Germany, France, and Italy. Led by China, members of the bank would lend money to developing nations in Asia for roads, ports and other infrastructure projects.
The bank builds on expanding Chinese influence in Asia, including Chinese-government-funded projects to develop a “New Silk Road” through Central Asia, and Chinese government investments in ports in Sri Lanka and East Africa.
China has also been working with Russia, Brazil, India and South Africa to develop the BRICS system, bank and currency investment agencies, which would operate outside of the Bretton Woods system. The long-term goal of these investments is to reduce American power as the world’s creditor nation and make China independent of the Bretton Woods system established after World War II, which made the world dependent on the U.S. dollar as the medium of global exchange.
Part of this growing independence has also been allowing central banks in nations from Australia to Switzerland to begin issuing Chinese currency, the yuan. Previously, many Chinese financial transactions had to be conducted in dollars and were dependent upon the Federal Reserve System.
Note: See my earlier posts concerning the false opposition to BIS. Yuan as a reserve currency has already been factored in by the globalist as part of their shifting allegiance. China is NOT an existential threat to the Bankster cartel, WE ARE BY OUR RECOGNITION OF THEIR MASSIVE IOU PONZI SCHEME!