The Asian Infrastructure Investment Bank (AIIB) is becoming more influential in the world.
Their reach is growing as Argentina is the sixth Latin American country to join. Argentina is said to have been going through financial difficulties as of late. It was reported that after Argentina suffered a debt crisis they were not able to get financing.
The Asian Infrastructure Investment Bank (AIIB) may be perceived as saviors when they come to the aid of a country that would not have received it otherwise.
The AIIB is now gaining influence in the Latin world. This can spell trouble for the United States and its allies when you really take a look in to what is the Asian Infrastructure Investment Bank. The AIIB was established in January 2016, but the idea of the Asian Infrastructure Investment Bank was floating around since 2013. Investopedia has stated that observers of the AIIB see it as challenging other international lending bodies that have America’s interest at heart such as: the World Bank, the International Monetary Fund and the Asian Development bank.
America may start to look less like the “big man on campus” if more countries are able to get help from the AIIB when the main international lending bodies won’t help them. It can foster a loyalty for China and its values. The main value of China is communism, a concept that is extremely hazardous to democracy.
With six Latin American countries already members of the Asian Infrastructure Investment Bank (AIIB), the United States risks losing influence to China. With more Latin countries with increasing interest in the AIIB, the United States may lose its status as a major player. When countries that are financially hurting have “a new daddy” and it is not the United States, any command or statement from the U.S. will hold less weight, therefore, be less meaningful to the international world.
In addition to Argentina, below is a list of countries that have a membership with the Asian Infrastructure Investment Bank:
Australia , Azerbaijan, Bangladesh, Brunel Darussalam, Cambodia, China, Georgia, Hong Kong , Indonesia, Iran, Israel, Jordan, Kazakhstan, Korea, Kyrgyz republic, Lao PDR, Malaysia, Maldives, Mongolia, Myanmar, Nepal, New Zealand, Oman, Pakistan, Philippines, Qatar, Russia, Saudi Arabia, Singapore, Sri Lanka, Tajikistan, Thailand, Turkey, United Arab Emirates, Uzbekistan, Vietnam, Bolivia, Brazil, Chile, Peru and Venezuela.
Will America’s world influence be weakened by China’s new found financial muscle called the Asian Infrastructure Investment Bank (AIIB)? Is the Asian Infrastructure Investment Bank a soft way for China to extend their red empire? Only time will tell. What is for sure is that the increasing power of the Asian Infrastructure Investment Bank is something that should be of some concern for the United States as the financial tentacles of China successfully stretch to every direction of the world.
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