Australia set to join China Investment Bank.

sammysilver

sammysilver

Well-Known Member
Silver Stacker
It is always interesting to follow a hypothetical into fruition. Will it happen?

http://www.smh.com.au/federal-polit...us100-billion-china-bank-20150319-1m33pa.html

Cabinet's National Security Committee has cleared the way for Australia to invest as much as $3 billion to join the China-led $US100 billion Asia Infrastructure Investment Bank.

Fairfax Media can reveal the committee's green light is expected to lead to a formal decision to sign up to the precedent-setting Chinese initiative when the full cabinet meets on Monday, marking a milestone for China's influence in the region.

Leaked details of the high-level discussions this week follow six months of messy debate which has set cabinet ministers and US allies against each other.

The amount of money Australia will tip into the bank has not been finalised, but figures ranging from hundreds of millions to up to $3 billion are being discussed.

The committee did not discuss a final dollar figure.

Supporters of the potential $US100 billion bank say it could trigger a wave of infrastructure development throughout the Asia-Pacific region, driving economic development and thus benefiting Australia and other countries in the region.

The leak of details of discussions in the NSC which includes Tony Abbott, Julie Bishop, Warren Truss, Kevin Andrews, Peter Dutton and Joe Hockey held this week in part also reflects China's success in signing up nearly 30 other players before the end of March deadline set by Beijing.
 
Cozying up to an authoritarian government that has a total disdain for human rights and freedom of expression. What could go wrong?

Political leaders here seem to think that Chinese appeasement, even in the face of increasing aggression in the South China sea, will work out great.

History says otherwise.
 
The UK joined the China investment bank last week and was followed by Germany & France this week.I laughed when it was reported Obama has rebuked the UK for joining FFS.

Obama wants to concentrate on his own mess before trying to dictate to other countries.
 
SilverPete said:
Cozying up to an authoritarian government that has a total disdain for human rights and freedom of expression.
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Oh, I don't think Tony Abbott's Govt is THAT bad!
 
Clawhammer said:
SilverPete said:
Cozying up to an authoritarian government that has a total disdain for human rights and freedom of expression.
Click to expand...
Oh, I don't think Tony Abbott's Govt is THAT bad!
Click to expand...
He he he, the old switcharoo :lol:
 
Is this the "black swan"? With Easter a couple of weeks away, it might be a good time to empty the bank accounts!
 
sammysilver said:
Is this the "black swan"? With Easter a couple of weeks away, it might be a good time to empty the bank accounts!
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$36 by easter, I am with you Sammy, I sure hope so. My stack is big enough now, bring it on. Does this make me a permabull :P
 
sammysilver said:
Is this the "black swan"? With Easter a couple of weeks away, it might be a good time to empty the bank accounts!
Click to expand...
If, as some are predicting, silver crashes over the next few weeks, it would be a very good time to take that cash and convert it to PMs.
 
So not only are western corporations going to continue increasing China's prosperity at the determinant to their own region, but even western governments are going to join the party.

I'd rather the Australian government invest in Australian infrastructure. :|
 
jnkmbx said:
So not only are western corporations going to continue increasing China's prosperity at the determinant to their own region, but even western governments are going to join the party.

I'd rather the Australian government invest in Australian infrastructure. :|
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Its not about increasing Chinese prosperity, but about tying Australia even further to China's eventual collapse and the subsequent wealth transfer and disempowerment of citizens that will take place.
 
I thought it was too late for Australia to join and still be considered founding members? If we join after the due date our voting power is less than if we join before, I thought
 
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