AIIB Update – The Ship Has Sailed

                                           (Photo: Daily Coin)

March 31, 2015 was the closing day for countries to apply to be founding members of the Asian Infrastructure Investment Bank. The U.S. and Japan were not on board. Fifty-seven other nations including some staunch U.S. allies were on board. It was reported that the Chinese themselves were surprised by the interest in the project. There is a huge demand for capital for infrastructure in Asia, and the World Bank and Asian Development Bank have not kept up with this demand in terms of loans, so China stepped in to fill the gap, and now there is the AIIB. Work is underway to create the launch of the new bank this year and discussions on the charter and the hiring of competent specialists to fill the many posts available are ongoing. Japan and the U.S. are the only two major world powers who have not joined the AIIB as founding members. So, what will happen in the near future?  Will Japan look out for its own interests and join the bank, or will Japan stand by its American allay and refuse to join? What do you think? Please log in and give us your thoughts on this matter.