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Michael Hudson: Europe Tilts East Towards China
The sudden rush of countries joining China’s
infrastructure bank, including supposed US allies like the UK, Germany,
and France, demonstrates the desire of not just emerging but also
advanced economies to have access to international institutions that are
not dominated by the US. Whether the infrastructure bank actually winds
up being better, as opposed to simply different than existing
institutions remains to be seen. But as Hudson describes, the World Bank
sets a low bar.http://www.nakedcapitalism.com/2015/03/michael-hudson-europe-tilts-east-towards-china.html
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