The many establishment analysts who portrayed the Communist Chinese dictatorship’s new Asian Infrastructure Investment Bank (AIIB) as a supposed “rival” to the Western globalist-led international economic order must be awfully embarrassed right now. And those who believed them, hoping the brutal Beijing regime’s bank was going to stand up to the World Bank-International Monetary Fund axis in particular, must be sorely disappointed. It turns out the scandal-plagued World Bank and the Communist Party of China-controlled AIIB are going to be proud partners in globalism. Together, the organizations will seek to promote the dangerous agenda known as “sustainable development” while undermining national sovereignty across Asia by bankrolling regional integration.
In a barely noticed press release sent out last week, the Chinese autocrats’ international “development” organ, formally born just months ago, celebrated its first official joint financing agreement with the globalist World Bank. The two transnational mega-banks agreed to a “co-financing framework” that will facilitate joint AIIB-World Bank projects, including some that will begin this year. According to the announcement, the AIIB plans to approve some $1.2 billion in project financing this year, “with World Bank joint projects anticipated to account for a sizable share.” There are close to a dozen joint projects all over Asia being discussed right now in everything from transportation to water and energy, the banks said.