h/t James Delingpole – The New York Times reports that the developing world is abandoning green tainted US backed global banking institutions, and is looking to China for infrastructure finance.
According to the New York Times;
American diplomats are upset that dozens of countries — including Nepal, Cambodia and Bangladesh — have flocked to join China’s new infrastructure investment bank, a potential rival to the World Bank and other financial institutions backed by the United States.
The reason for the defiance is not hard to find: The West’s environmental priorities are blocking their access to energy.
Support for the new Asian Infrastructure Investment Bank, and its agenda free brand of capitalism, extends well beyond the developing world. All Asian and major non-Asian countries, except Japan and America, have agreed to join the new bank, with countries like Australia being offered a leading role in the new institution.