theDrahos

On March 12, Great Britain applied to join the AIIB (Asian Infrastructure Investment Bank). Britain’s Chancellor of the Exchequer George Osborne announced the decision in a Treasury release, noting that Great Britain is the “first major Western country to apply” to become a member of this new international development bank. A dispatch by Xinhua noted that China’s Finance Ministry welcomed the initiative, which would make Britain a founding member. The Ministry is now seeking the opinions of other founding countries.

At a March 6 press conference, Lou Jiwei, China’s Minister of Finance, said that 27 countries have applied to jointly found the bank. March 31 is the application deadline. Xinhua reports that the bank is to be formally established by the end of 2015. Lou said said that a number of European nations have shown interest to join the bank.

Within hours of today’s announcement of Britain’s application to the AIIB, reports came out of White House disapproval. The Financial Times reported that:

“The Obama administration accused the UK of a ‘constant accommodation’ of China after Britain decided to join a new China-led financial institution that could rival the World Bank…”

The article stated:

“A senior US administration official told the Financial Times that the British decision was taken after ‘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 official British Treasury release states:

“As the first major Western country to apply to become a prospective member of the AIIB, the U.K. will join discussions later this month with other founding members to agree with the bank’s prospective Articles of Agreement, setting out the governance and accountability arrangements that underpin the AIIB’s operating practices.”

Chancellor of the Exchequer George Osborne is quoted:

“This government has actively promoted closer political and economic engagement with the Asia-Pacific region and forging links between the U.K. and Asian economies to give our companies the best opportunity to work and invest in the world’s fastest growing markets as a key part of our long-term economic plan. Joining the AIIB at the founding stage will create an unrivalled opportunity for the U.K. and Asia to invest and grow together.”

Once fully operational, the AIIB will support access to finance for infrastructure projects across Asia, using a variety of support measures — including loans, equity investments, and guarantees — to boost investment across a range of sectors including transportation, energy, telecommunication, agriculture and urban development.

On March 12, Great Britain applied to join the AIIB (Asian Infrastructure Investment Bank). Britain’s Chancellor of the Exchequer George Osborne announced the decision in a Treasury release, noting that Great Britain is the “first major Western country to apply” to become a member of this new international development bank. A dispatch by Xinhua noted that China’s Finance Ministry welcomed the initiative, which would make Britain a founding member. The Ministry is now seeking the opinions of other founding countries.

At a March 6 press conference, Lou Jiwei, China’s Minister of Finance, said that 27 countries have applied to jointly found the bank. March 31 is the application deadline. Xinhua reports that the bank is to be formally established by the end of 2015. Lou said said that a number of European nations have shown interest to join the bank.

Within hours of today’s announcement of Britain’s application to the AIIB, reports came out of White House disapproval. The Financial Times reported that:

“The Obama administration accused the UK of a ‘constant accommodation’ of China after Britain decided to join a new China-led financial institution that could rival the World Bank…”

The article stated:

“A senior US administration official told the Financial Times that the British decision was taken after ‘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 official British Treasury release states:

“As the first major Western country to apply to become a prospective member of the AIIB, the U.K. will join discussions later this month with other founding members to agree with the bank’s prospective Articles of Agreement, setting out the governance and accountability arrangements that underpin the AIIB’s operating practices.”

Chancellor of the Exchequer George Osborne is quoted:

“This government has actively promoted closer political and economic engagement with the Asia-Pacific region and forging links between the U.K. and Asian economies to give our companies the best opportunity to work and invest in the world’s fastest growing markets as a key part of our long-term economic plan. Joining the AIIB at the founding stage will create an unrivalled opportunity for the U.K. and Asia to invest and grow together.”

Once fully operational, the AIIB will support access to finance for infrastructure projects across Asia, using a variety of support measures — including loans, equity investments, and guarantees — to boost investment across a range of sectors including transportation, energy, telecommunication, agriculture and urban development.

On March 12, Great Britain applied to join the AIIB (Asian Infrastructure Investment Bank). Britain’s Chancellor of the Exchequer George Osborne announced the decision in a Treasury release, noting that Great Britain is the “first major Western country to apply” to become a member of this new international development bank. A dispatch by Xinhua noted that China’s Finance Ministry welcomed the initiative, which would make Britain a founding member. The Ministry is now seeking the opinions of other founding countries.

At a March 6 press conference, Lou Jiwei, China’s Minister of Finance, said that 27 countries have applied to jointly found the bank. March 31 is the application deadline. Xinhua reports that the bank is to be formally established by the end of 2015. Lou said said that a number of European nations have shown interest to join the bank.

Within hours of today’s announcement of Britain’s application to the AIIB, reports came out of White House disapproval. The Financial Times reported that:

“The Obama administration accused the UK of a ‘constant accommodation’ of China after Britain decided to join a new China-led financial institution that could rival the World Bank…”

The article stated:

“A senior US administration official told the Financial Times that the British decision was taken after ‘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 official British Treasury release states:

“As the first major Western country to apply to become a prospective member of the AIIB, the U.K. will join discussions later this month with other founding members to agree with the bank’s prospective Articles of Agreement, setting out the governance and accountability arrangements that underpin the AIIB’s operating practices.”

Chancellor of the Exchequer George Osborne is quoted:

“This government has actively promoted closer political and economic engagement with the Asia-Pacific region and forging links between the U.K. and Asian economies to give our companies the best opportunity to work and invest in the world’s fastest growing markets as a key part of our long-term economic plan. Joining the AIIB at the founding stage will create an unrivalled opportunity for the U.K. and Asia to invest and grow together.”

Once fully operational, the AIIB will support access to finance for infrastructure projects across Asia, using a variety of support measures — including loans, equity investments, and guarantees — to boost investment across a range of sectors including transportation, energy, telecommunication, agriculture and urban development.

On March 12, Great Britain applied to join the AIIB (Asian Infrastructure Investment Bank). Britain’s Chancellor of the Exchequer George Osborne announced the decision in a Treasury release, noting that Great Britain is the “first major Western country to apply” to become a member of this new international development bank. A dispatch by Xinhua noted that China’s Finance Ministry welcomed the initiative, which would make Britain a founding member. The Ministry is now seeking the opinions of other founding countries.

At a March 6 press conference, Lou Jiwei, China’s Minister of Finance, said that 27 countries have applied to jointly found the bank. March 31 is the application deadline. Xinhua reports that the bank is to be formally established by the end of 2015. Lou said said that a number of European nations have shown interest to join the bank.

Within hours of today’s announcement of Britain’s application to the AIIB, reports came out of White House disapproval. The Financial Times reported that:

“The Obama administration accused the UK of a ‘constant accommodation’ of China after Britain decided to join a new China-led financial institution that could rival the World Bank…”

The article stated:

“A senior US administration official told the Financial Times that the British decision was taken after ‘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 official British Treasury release states:

“As the first major Western country to apply to become a prospective member of the AIIB, the U.K. will join discussions later this month with other founding members to agree with the bank’s prospective Articles of Agreement, setting out the governance and accountability arrangements that underpin the AIIB’s operating practices.”

Chancellor of the Exchequer George Osborne is quoted:

“This government has actively promoted closer political and economic engagement with the Asia-Pacific region and forging links between the U.K. and Asian economies to give our companies the best opportunity to work and invest in the world’s fastest growing markets as a key part of our long-term economic plan. Joining the AIIB at the founding stage will create an unrivalled opportunity for the U.K. and Asia to invest and grow together.”

Once fully operational, the AIIB will support access to finance for infrastructure projects across Asia, using a variety of support measures — including loans, equity investments, and guarantees — to boost investment across a range of sectors including transportation, energy, telecommunication, agriculture and urban development.

The Berlin-based web journal Telepolis on March 14 had an article describing how the three Baltic states are intensifying economic cooperation deals with China, as well as considering to become the Baltic ends of the New Silk Road infrastructure grid which China is building. In April, Latvia’s capital Riga will host an EU-Asia summit, which is to deal with that, in more detail. During the visit to Latvia of a Chinese government delegation in February, a deal was signed between the Latvian milk-producing firm Food Union and the third-largest Chinese food producer Bright Food, based in Shanghai. The China Harbour Engineering Company last autumn signed a contract with the Latvian Riga Coal Terminal, also for the expansion of capacity. The Chinese Embassy in Riga also has considerably expanded its staff.

Lithuania has been falling behind, due to President Dalia Grybauskaite’s endorsement of the Dalai Lama and the Tibet separatism from China. Osvaldas Ciuksys, the head of the Lithuanian-Chinese Chamber of Commerce however has criticized Grybauskaite for that, blaming her for the lack of profitable deals with China. Only in February, have relations between both countries warmed a bit, so that there is now an option of talks, predominantly on Lithuanian exports of agricultural products to China.

Estonia, which officially received the Dalai Lama in 2011, suffered from a freeze of economic relations with China, which was lifted when the Estonians apologized in 2014, so that at the end of January, the agriculture ministers of both countries signed a cooperation agreement in preparation of Estonian farm products to China. Furthermore, the Estonian port of Tallinn is being modernized and expanded with Chinese input.

Ironically, for the time being, until better and direct railway connections are established, the Baltic states and China use the “Northern Distribution Network,” a set of transport routes which originally were put together by Russia and NATO, to transfer matériel from Europe to the Western forces in Afghanistan.

The Berlin-based web journal Telepolis on March 14 had an article describing how the three Baltic states are intensifying economic cooperation deals with China, as well as considering to become the Baltic ends of the New Silk Road infrastructure grid which China is building. In April, Latvia’s capital Riga will host an EU-Asia summit, which is to deal with that, in more detail. During the visit to Latvia of a Chinese government delegation in February, a deal was signed between the Latvian milk-producing firm Food Union and the third-largest Chinese food producer Bright Food, based in Shanghai. The China Harbour Engineering Company last autumn signed a contract with the Latvian Riga Coal Terminal, also for the expansion of capacity. The Chinese Embassy in Riga also has considerably expanded its staff.

Lithuania has been falling behind, due to President Dalia Grybauskaite’s endorsement of the Dalai Lama and the Tibet separatism from China. Osvaldas Ciuksys, the head of the Lithuanian-Chinese Chamber of Commerce however has criticized Grybauskaite for that, blaming her for the lack of profitable deals with China. Only in February, have relations between both countries warmed a bit, so that there is now an option of talks, predominantly on Lithuanian exports of agricultural products to China.

Estonia, which officially received the Dalai Lama in 2011, suffered from a freeze of economic relations with China, which was lifted when the Estonians apologized in 2014, so that at the end of January, the agriculture ministers of both countries signed a cooperation agreement in preparation of Estonian farm products to China. Furthermore, the Estonian port of Tallinn is being modernized and expanded with Chinese input.

Ironically, for the time being, until better and direct railway connections are established, the Baltic states and China use the “Northern Distribution Network,” a set of transport routes which originally were put together by Russia and NATO, to transfer matériel from Europe to the Western forces in Afghanistan.

The Berlin-based web journal Telepolis on March 14 had an article describing how the three Baltic states are intensifying economic cooperation deals with China, as well as considering to become the Baltic ends of the New Silk Road infrastructure grid which China is building. In April, Latvia’s capital Riga will host an EU-Asia summit, which is to deal with that, in more detail. During the visit to Latvia of a Chinese government delegation in February, a deal was signed between the Latvian milk-producing firm Food Union and the third-largest Chinese food producer Bright Food, based in Shanghai. The China Harbour Engineering Company last autumn signed a contract with the Latvian Riga Coal Terminal, also for the expansion of capacity. The Chinese Embassy in Riga also has considerably expanded its staff.

Lithuania has been falling behind, due to President Dalia Grybauskaite’s endorsement of the Dalai Lama and the Tibet separatism from China. Osvaldas Ciuksys, the head of the Lithuanian-Chinese Chamber of Commerce however has criticized Grybauskaite for that, blaming her for the lack of profitable deals with China. Only in February, have relations between both countries warmed a bit, so that there is now an option of talks, predominantly on Lithuanian exports of agricultural products to China.

Estonia, which officially received the Dalai Lama in 2011, suffered from a freeze of economic relations with China, which was lifted when the Estonians apologized in 2014, so that at the end of January, the agriculture ministers of both countries signed a cooperation agreement in preparation of Estonian farm products to China. Furthermore, the Estonian port of Tallinn is being modernized and expanded with Chinese input.

Ironically, for the time being, until better and direct railway connections are established, the Baltic states and China use the “Northern Distribution Network,” a set of transport routes which originally were put together by Russia and NATO, to transfer matériel from Europe to the Western forces in Afghanistan.