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Home>GoldWire>Three major nations absent as China launches rival to Western development bank

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Three major nations absent as China launches rival to Western development bank

Chris Powell

GATA

Published : October 24th, 2014

103 words - Reading time : less than a minute

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FOLLOW : Australia China Indonesia South Korea

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Category : GoldWire


	SHANGHAI -- Australia, Indonesia, and South Korea skipped the launch of a China-backed Asian infrastructure bank on Friday as the United States said it had concerns about the new rival to Western-dominated multilateral lenders. China's proposed $50 billion Asian Infrastructure Investment Bank is seen as a challenge to the World Bank and Asian Development Bank, both multilateral lenders that count Washington and its allies as their biggest financial backers. China, which is keen to extend its influence in the region, has limited voting power over these existing banks despite being the world's second-largest economy. ... ... For the remainder of the report: http://www.reuters.com/article/2014/10/24/chi...0SI26S201410...

Data and Statistics for these countries : Australia | China | Indonesia | South Korea | All

Gold and Silver Prices for these countries : Australia | China | Indonesia | South Korea | All

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.

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