Germany Announces Intention of Joining AIIB; Chinese Vice Premier Ma Kai Touring Germany

Chinese Vice Premier Ma Kai met in Berlin on March 17th with German Finance Minister Wolfgang Schäuble for the First High-Level Financial Dialogue, agreed upon a year ago during Xi Jinping’s visit to Germany, and their meeting resulted in a 21-point memorandum, which among other issues stresses cooperation against money-laundering and the concomitant financing of terrorism, as well as cooperation on banking control, renminbi-denominated deals, and, very important, the German commitment to become a founding member of the Asian Infrastructure Investment Bank (AIIB). Ma Kai is said to be staying in Germany, having begun his tour in Bavaria on March 16, for the entire week.

Their memorandum welcomes China’s hosting the G20 Summit in 2016, and the “G20 agenda of promoting productive investment.” Furthermore, it states: “Both sides will explore the possibility of investment cooperation in third countries in line with the interest of German and Chinese enterprises,” and, most important: “China and Germany agree that the AIIB as a new Investment Bank could play an important role to provide funds for infrastructure in Asia. Germany intends to join the AIIB as a prospective founding member. China welcomes this intention.” The AIIB, a release from the German Finance Ministry declares, “could play an important role to provide funds for addressing the large infrastructure needs in Asia…. The AIIB will thus promote economic and social development in the region and contribute to global growth.”

Lyndon LaRouche welcomed the German decision to join the AIIB, but cautioned that that step is not conclusive, because Germany’s overall policy has not been resolved. This can be seen in the German government’s terrible policy on the Greek situation, led by Finance Minister Schaeuble, whom LaRouche described as the pilot of the fraud on Greece.