UK, Australia, New Zealand, Singapore and India All Sign On … South Korea Next?
This week, 2 major U.S. allies – 2 of the “Five Eyes” – have disregarded American please and joined China’s development bank … a new alternative to the US-dominated IMF and World Bank lending order. (A third member of the Five Eyes – New Zealand – previously signed onto the Chinese bank.)
Specifically, the UK and Australia signed on this week.
The Financial Times reports, quoting a senior US Official:
[The decision of the UK to join the Chinese development bank was made with] virtually no consultation with the US.
We are wary about a trend toward constant accommodation of China, which is not the best way to engage a rising power.
The New York Times reported last week: