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"US Has Screwed Up Its Approach To China's AIIB" Former US Secretary Of State Blasts

Tyler Durden's picture




 

With at least 46 nations now agreeing to join the China-led Asian Infrastructure Investment Bank (AIIB), the writing could perhaps be on the well for the dollar. And to make matters worse, this week saw former U.S. Secretary of State Madeleine Albright, rant that "\The United States has "screwed up" on its way to deal with the China-proposed AIIB and "should not have done in this way."

The 46 'dissenters' for now...

As Xinhua reports,

One of the motives for China to initiate the AIIB was that the U.S. Congress held up the voting share reform in the International Monetary Fund (IMF), the World Bank and other international institutions, Albright said at an event held by the Washington-based think tank Center for Strategic and International Studies (CSIS).

 

As China and other countries have been questioning Washington's excessive dominance in international institutions, the U.S. executive branch has proposed to Congress to try to adjust some of the voting share in the World Bank and IMF, in some way to ensure more equitable voting shares, but Congress has delayed to ratify such a reform.

 

"I think there has been certain amount of frustration (from China and other countries) about that," Albright said.

 

According to the former secretary of state, the AIIB should not be seen as some kind of Chinese power grab, but an opportunity for the U.S. to be able to put forward ideas on transparency and regulatory issues.

 

U.S. Treasury Secretary Jacob Lew said recently that emerging and developed economies alike are looking to other alternatives as a means of driving the global system forward, as the international community waits for Congress to approve these reforms.

 

Also on Tuesday, Lew made it clear that the U.S. stands ready to welcome the AIIB as it complements existing international financial institutions and upholds high standards.

 

The AIIB, expected to be formally established by the end of 2015, will be an international financial institution to fund infrastructure projects in Asia. China confirmed on Tuesday that 30 countries have been approved as prospective founding members of the bank.

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Thu, 04/02/2015 - 21:56 | 5954275 ebworthen
ebworthen's picture

Hey Madeleine, the U.S. has screwed over everyone else in the world and it's own citizens - so stuff it.

BTW - where is Jon Corzine?

Thu, 04/02/2015 - 21:58 | 5954281 WillyGroper
WillyGroper's picture

Coming from a maggot that thinks it's OK to murder 500K children?

Transparency?

Shit show.

Thu, 04/02/2015 - 22:01 | 5954289 usednabused
usednabused's picture

Since when did anything that fat ugly bitch ever speak any truth? Truth isn't in a Zio's toolkit. And thats what that bitch is about.

Thu, 04/02/2015 - 22:46 | 5954383 weburke
weburke's picture

well, it is quite a show. 

Thu, 04/02/2015 - 22:54 | 5954402 MisterMousePotato
MisterMousePotato's picture

Oh, God. Madelaine Albright? Did you ever imagine that there was someone capable of making you miss Warren Christopher?

Fri, 04/03/2015 - 00:19 | 5954620 Bumpo
Bumpo's picture

Hearing from Madeleine Albright is like hearing for Bibi Netanyahu. No one cares what you think, so shut your mouth, bitch!

Fri, 04/03/2015 - 07:37 | 5955124 Realname
Realname's picture

Madeleine Albright is still alive? Her feet must be getting warm, as hell is awaiting her arrival.

Fri, 04/03/2015 - 07:45 | 5955137 Keyser
Keyser's picture

as some kind of Chinese power grab, but an opportunity for the U.S. to be able to put forward ideas on transparency and regulatory issues.

 

Yeah, right, especially from the "most transparent administration in history"... 
Fri, 04/03/2015 - 08:35 | 5955258 MalteseFalcon
MalteseFalcon's picture

Let me know when Israel appears on that list.  A trailing indicator, but definite confirmation.

Thu, 04/02/2015 - 22:46 | 5954386 Latina Lover
Latina Lover's picture

The criminal banksters that control the USSA overplayed their hand, once again.   Most ordinary people think they are so brilliant, yet if  you started life with a billion in your bank account, you would be 'smart' too. 

Thu, 04/02/2015 - 22:03 | 5954295 TheFourthStooge-ing
TheFourthStooge-ing's picture

That's what she meant by, "should not have done in this way."

After all, what kind of 'american' response is it without a sacrifice of many thousands of children?

Thu, 04/02/2015 - 22:31 | 5954348 The_Prisoner
The_Prisoner's picture

Albright should be hanging by the neck, right next to Kissinger and Brejzinski.

I'd add McNamara to the list too, but he's past that now.

Fri, 04/03/2015 - 02:33 | 5954857 basho
basho's picture

you can substitute, cheney rumsfeld or any neo-con cretan for mcnamara

Fri, 04/03/2015 - 08:17 | 5955209 oudinot
oudinot's picture

I'm your down vote.

Mcnamara apologised for his Vietnam war policy (bombing anything that moved basically) as defense secretary in a very humble manner.

Thu, 04/02/2015 - 23:25 | 5954501 ebworthen
ebworthen's picture

"Maggot", yes, thanks, I would say leather skinned bile sack of bones, but maggot is probably a more apt description of the hag.

Fri, 04/03/2015 - 07:41 | 5955127 stocktivity
stocktivity's picture

It's all Bullshit!!!

Obama - "What the fuck is AIIB?   Just get me on the front 9 at 10am."

Thu, 04/02/2015 - 22:05 | 5954278 suteibu
suteibu's picture

Add Taiwan to the list of applicants.

 

ETA:  Oops.  I guess Taipei qualifies.

 

Fri, 04/03/2015 - 07:59 | 5954817 franciscopendergrass
franciscopendergrass's picture

How does Taiwan apply?  It's not technically a sovereign.  Must be a lot of technicalities surrounding that like the President of Taiwan is the party leader of the KMT when it goes to China.  They are not part of the World Bank nor IMF.  

The ambassadors can't be called ambassadors.  The embassey is not called an embassey and so on.

Fri, 04/03/2015 - 11:07 | 5955836 suteibu
suteibu's picture

BEIJING, April 1 (Xinhua) -- The Chinese mainland welcomes Taiwan's participation in the Asian Infrastructure Investment Bank (AIIB) under an appropriate name, said a mainland spokesman on Wednesday.

The State Council Taiwan Affairs Office has received Taiwan's letter of intent on joining the AIIB and has transferred the letter to the Multilateral Interim Secretariat for the AIIB, according to the office's spokesman Ma Xiaoguang.

"The AIIB is open and inclusive," Ma said. "We welcome Taiwan to participate in the AIIB under an appropriate name."

Taiwan's finance and mainland affairs authorities issued a statement on Tuesday announcing the island's letter of intent.

Thu, 04/02/2015 - 21:58 | 5954280 LetThemEatRand
LetThemEatRand's picture

"Madeleine Albright was born Marie Jana Korbel in Prague on May 15, 1937. When she was only a toddler, she and her family fled their native Czechoslovakia shortly after the country was invaded by the Nazis at the start of World War II, settling in England for the duration of the war. Although Madeleine was raised Catholic, she would later learn that her parents had converted to the Christian faith from Judaism, and that three of her grandparents had died in concentration camps during the Holocaust."

Thu, 04/02/2015 - 22:07 | 5954302 JustObserving
JustObserving's picture

She will live in infamy forever for admitting on 60 minutes on May 12, 1996 that it is OK that 500,000 Iraqi children have died due to US sanctions - it is worth it as she puts it.

Madeleine Albright says 500,000 dead Iraqi Children was "worth it" wins Medal of Freedom from the Nobel Prize Winner in 2012

https://www.youtube.com/watch?v=omnskeu-puE

Thu, 04/02/2015 - 22:12 | 5954304 Yen Cross
Yen Cross's picture

  I'm taking bets. ;-)

 Some discredited plebeian is going to dispute these comments.

Fri, 04/03/2015 - 00:12 | 5954608 ILLILLILLI
ILLILLILLI's picture

Well, they were simply goy spawn, so they weren't like REAL children.

/s

Thu, 04/02/2015 - 23:21 | 5954489 ebworthen
ebworthen's picture

Subtle one there LetThemEatRand, subtle.

Fri, 04/03/2015 - 00:02 | 5954590 junction
junction's picture

"Jewish lightning" should smite Mad Albright.

Fri, 04/03/2015 - 01:09 | 5954727 The_Prisoner
The_Prisoner's picture

Has Larry Silverstein bought insurance on her?

Thu, 04/02/2015 - 21:59 | 5954282 Moe Hamhead
Moe Hamhead's picture

Screw something up?!  No, not this administration!  I can't believe it!

Thu, 04/02/2015 - 22:01 | 5954290 drendebe10
drendebe10's picture

Nah.... no way the fudgepacker "screwed up."   

Fri, 04/03/2015 - 00:03 | 5954596 lesterbegood
lesterbegood's picture

It was a scripted screw-up.

Thu, 04/02/2015 - 22:04 | 5954297 suteibu
suteibu's picture

I still believe China wants to be America's antimatter.  Their rhetoric is "peaceful development" which sounds a lot better than "spreading democracy" and, so far, has shown to be a lot less bloody.

From Xinhua:

BEIJNG, April 2 (Xinhua) -- China will target a bigger role in international affairs after recent successes in global diplomacy, according to a blue book published by the China Institute of International Studies (CIIS) Thursday.

"The International Situation and China's Foreign Affairs (2015)" particularly highlights the two major summits China hosted in 2014, as well as its proposals to boost Asian infrastructure with the Silk Road Economic Belt and 21st-Century Maritime Silk Road projects.

"Last year, China played a significant role in multilateral diplomacy and contributed to solving international issues," said Chen Xulong, head of the Department for International and Strategic Studies of the CIIS, referring to the Shanghai-hosted Conference on Interaction and Confidence Building Measures in Asia and the Beijing-hosted Asia-Pacific Economic Cooperation.

"The international community will stipulate an agenda this year to discuss post-2015 development," said Ruan Zongze, vice CIIS president. "China will continue to focus on peaceful development and practice this in its foreign policy."

An English version of the blue book will be published next month.

The CIIS is the think tank of China's Ministry of Foreign Affairs.

Thu, 04/02/2015 - 22:30 | 5954346 Yen Cross
Yen Cross's picture

 I think your comment holds some valid axioms. You've obviously put some thought and research into your idea.

 China is going to broaden it's "lending profile" over the next 90 days.

 Why do you think that is? China wants a strong YUAN.

 China wants to convert it's F/X reserves at a favorable price.

  The $usd, as much as I love it.  Post Facto, unless ?

Thu, 04/02/2015 - 23:21 | 5954488 suteibu
suteibu's picture

China can lead the world without ruling it as the US tries to do now.  Less expensive and more peaceful.  It's an historic opportunity.

Fri, 04/03/2015 - 00:33 | 5954661 ILLILLILLI
ILLILLILLI's picture

Ah...lead by not-leading. Lao Tse approves..

 

Rule a nation with justice. 
Wage war with surprise moves. 
Become master of the universe without striving. 
How do I know that this is so? 
Because of this! 
The more laws and restrictions there are, 
The poorer people become. 
The sharper men's weapons, 
The more trouble in the land. 
The more ingenious and clever men are, 
The more strange things happen. 
The more rules and regulations, 
The more thieves and robbers.

Therefore the sage says: 
I take no action and people are reformed. 
I enjoy peace and people become honest. 
I do nothing and people become rich. 
I have no desires and people return to the good and simple life.

Fri, 04/03/2015 - 01:18 | 5954741 Yen Cross
Yen Cross's picture

 Long Antipodians.

Fri, 04/03/2015 - 01:22 | 5954748 old naughty
old naughty's picture

and that is exactly what ptb is doing everything in opposite...

because they want chaos, control, and complicated matters !

Fri, 04/03/2015 - 04:30 | 5954783 Yen Cross
Yen Cross's picture

Okay

 

Fri, 04/03/2015 - 08:15 | 5955195 SilvertonguedAngel
SilvertonguedAngel's picture

"People who beat their guns into plowshares will plow for those who don't"

 

Thomas Jefferson

 

Phuck Loa Tse, I don't want to be ruled.

Fri, 04/03/2015 - 10:14 | 5955651 suteibu
suteibu's picture

You are ruled now.  How do you like your current master?

Thu, 04/02/2015 - 22:35 | 5954358 sidiji
sidiji's picture

my hands are in the air like i do not care!

Thu, 04/02/2015 - 22:58 | 5954424 Soul Glow
Soul Glow's picture

Ohh Madaline Albright hearts China.  How cute!  Everyone remember how much her and Clinton love China?

Fri, 04/03/2015 - 00:37 | 5954604 ThirteenthFloor
ThirteenthFloor's picture

First comment that actually hits the point.
Albright is a sell out to the highest bidder. Like any politico.
As the world moves east watch the elite "buy" a ticket on the other side.

As Sam Giacano once said, the rich play both sides, that way they are looked upon favorably whoever wins.

Thu, 04/02/2015 - 23:01 | 5954432 bigrooster
bigrooster's picture

We are so done.  I hope this makes the big US banks go away.  It has been a fun ride.

Fri, 04/03/2015 - 00:41 | 5954678 ThirteenthFloor
ThirteenthFloor's picture

+1. Yes.

Fri, 04/03/2015 - 03:26 | 5954902 napper
napper's picture

Fun ride for whom?

Thu, 04/02/2015 - 23:02 | 5954435 thetruthhurts
thetruthhurts's picture

Fuck Albright.

And Fuck Obombya

 

Madeleine Albright says 500,000 dead Iraqi Children was "worth it".....wins Presidential Medal of Freedom from Obama

Thu, 04/02/2015 - 23:49 | 5954567 Joe A
Joe A's picture

I am sure she would also like Kosovo to join so that mafia state created by her and her ilk can rake in some moar money to finance their drugs, arms and human trafficking businesses.

Anyway, people are fed up with the 'Washington consensus' and are giving the big finger to the World Bank and IMF. To find out they replaced it with the 'Being consensus'.

Thu, 04/02/2015 - 23:58 | 5954580 BoPeople
BoPeople's picture

While it would be nice for the vampire to turn into an actual human being, I do not hold out much hope. Well, really I don't waste any time thinking about Albright.

A fallen soul who enjoys her captivity.

Fri, 04/03/2015 - 01:27 | 5954762 Yen Cross
Yen Cross's picture

 That's a long parabolic SAR on the M-30 chart. The Arabs will probably wash their balance sheets before the Sunday open.

Fri, 04/03/2015 - 02:10 | 5954811 Monetas
Monetas's picture

Madeleine Albright .... Marie Jana Korbel .... Mary Jane .... Marijuana !

Fri, 04/03/2015 - 02:30 | 5954852 q99x2
q99x2's picture

One way to divide and conquer a bankster and/or a politician. Throw a dollar in front of a steamroller.

Fri, 04/03/2015 - 03:29 | 5954904 21centurydragon...
21centurydragonslayer's picture

Indicates the Crime Syndicate is on board the end of Anglo-US hedgemony. 

Fri, 04/03/2015 - 04:13 | 5954927 alus
alus's picture

Poland also send an application for conditional membership.
http://en.people.cn/n/2015/0403/c90777-8873516.html

Island too...
http://en.people.cn/n/2015/0401/c90883-8872167.html

Fri, 04/03/2015 - 05:38 | 5954995 Arnold
Arnold's picture

I am very surprised that California was not listed, given all the the redevelopment it currently needs.

Fri, 04/03/2015 - 04:26 | 5954934 Yen Cross
Yen Cross's picture

 Bundsbank Euroclear BIS are going to get caught off guard Monday.

Fri, 04/03/2015 - 05:07 | 5954966 lakecity55
lakecity55's picture

Haha, Obrama, we now have bank you not in!

C'mon, Xi, have I ever barfed on you like Poppy did to that Japanese PM?

No, but you grab my ass in men's room! You no join!

Puuhhleese, Comrade?

We no "Comrades" Obrama!

Fri, 04/03/2015 - 05:14 | 5954975 justsayin2u
justsayin2u's picture

As long as the US is willing to fund any of these loans beyond its fair share it should get more votes and have more power.  Otherwise screw these guys.

Fri, 04/03/2015 - 05:15 | 5954976 Free_Spirit
Free_Spirit's picture

The IMF and World bank have been used as tools of US politics and forced regime change for too long, they should have been independent and solely focused on assisting economic development and progress . Hopefully the AIIB will fill this role, but this is just another step in the dedollarisation process. I suspect the AIIB will start slowly and then take root very robustly. Just another sign that the US ability to strangle any nation who isn't subservient to its political objectives is coming to an end.

Fri, 04/03/2015 - 05:29 | 5954989 kchrisc
kchrisc's picture

Zion whipping out the oldies but goodies from the psychopath cellar in desperation.

"I didn't kill anyone, only those that followed my orders did."

The banksters need to repay us.

 

Is she a ratchet or a wrench?

Fri, 04/03/2015 - 06:21 | 5955023 Jack Daniels Esq
Jack Daniels Esq's picture

USG - white welfare cretins lead by dumb black muslim

Fri, 04/03/2015 - 07:40 | 5955126 GreatUncle
GreatUncle's picture

You can't CTRL-P 80 billion dollars MOM and hold the global reserve currency.

This AIIB though, if you let the fiat dollar in with an itchy CTRL-P finger you will lose because they will print enough to own it.

So has anybody else noticed cash rich US countries from the FED liquidity boost are looking to own anything not nailed down globally ...

 

Fri, 04/03/2015 - 12:23 | 5956099 bahaar
bahaar's picture

AIIB is just being formed.  Already readers of Zero Hedge has declared it a great success!!!  None of the Asian nations in that list trust China.  China has border conflicts with every one of them and promotes insurgencies.  Peaceful rise indeed!  China also has great internal instabilities.  The country is more like a corporation where the top echelon takes disproportionately big cut of the goodies.  Red army and CCP are at each other's throat.   The country has sold both it's environment and it's people's labour for a fistful of IOU's from the West.  How smart is that.  Bascially, it's relatively easy to conquer but very difficult to rule. 

Fri, 04/03/2015 - 20:50 | 5957704 Livermore Legend
Livermore Legend's picture

China is going to Lead the Way with Their $ 25-30 + TRILLION FIAT.........?

"Nuff Said".

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