As
the United States continues to beg ally after ally to forgo joining the
China-led Asian Infrastructure Investment Bank (AIIB), key nations
have, nevertheless, ignored that plea.
The UK, Turkey, and Australia
have already applied, among others. But the latest application might
sting the most, as PM Netanyahu tosses Israel’s name into the mix.
47 nations have already applied for membership in the AIIB, a multilateral development bank spearheaded by Beijing.
Meant to provide financing for infrastructure
projects throughout Asia – and to fill in loan gaps left by the
International Monetary Fund – the bank is expected to significantly
increase China’s influence.
Which is why the United States was largely against it.
With a Chinese bank pumping $100 billion into
infrastructure projects in the region, Washington will inevitably lose
some its own clout.
As such, the US has strongly dissuaded its allies from joining, but one by one, countries have flocked to the new institution.
And now the AIIB can add Israel to its list.
The Israeli Foreign Ministry announced on
Wednesday that Prime Minister Netanyahu had signed an application,
saying membership would open up opportunities for Israeli companies to
enter into one of the fastest growing markets on the planet.
The booming Asian economy isn’t the only thing
pushing Israel toward the AIIB. Netanyahu’s government has been looking
for ways to diversify its exports in response to a rising tide of
anti-Semitism in Europe, and given that it could face potential
sanctions over future conflicts.
At this point, Japan is the only major US ally
who is still holding out on membership, but given the AIIB’s quickly
growing influence, one can easily imagine Tokyo casting longing looks
toward Beijing as Washington leads it in the other direction.
Israel joins China, India, Indonesia, Israel,
Bangladesh, Brunei, Cambodia, Jordan, Kazakhstan, Kuwait, Laos,
Maldives, Malaysia, Mongolia, Myanmar, Nepal, New Zealand, Oman,
Pakistan, the Philippines, Qatar, Saudi Arabia, Singapore, Sri Lanka,
Tajikistan, Uzbekistan, Thailand, Vietnam, France, Germany, Italy, the
UK, Luxembourg, Switzerland, Austria, Turkey, South Korea, Brazil,
Russia, Georgia, the Netherlands, Denmark, Australia, Egypt, Finland, Kyrgyzstan, and Sweden, all having applied for membership.
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http://sputniknews.com/asia/20150401/1020341659.html
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