European nations sign up for the Asian Infrastructure Investment Bank: Germany, France, Italy to join Chinese-led Asian bank
Australia decided it wants to sign on to the AIIB after all:
"Colossal Defeat" For Obama As Australia Joins China's Regional Bank
Actually, it is a win for Obama because he does not want an American dominated world. His goal was to end American dominance and usher in a multi-lateral world. He is succeeding. If he's able to solidify the decline, natural forces may take over. The Chinese alternative to the World Bank, the AIIB, will allow the U.S. Congress to defund the World Bank entirely. For every multilateral institution China sets up, the U.S. will be able to abandon the original and abdicate its position of global leadership to focus on national concerns, which remains a popular position among the public. Isolationism isn't dead, it's just sleeping.
Here's a look at all the replacement institutions being built by China:
A recognition of the decline probably won't begin until after the U.S. dollar peaks.
ARK Destroyed More Wealth Than Any Asset Manager Over the Previous Decade
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Congratulations to Cathie Wood for losing $14.3 billion over the past
decade, more than any other fund manager according to Morningstar.
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