Washington Blinks: Will Seek Partnership With China-Led Development Bank

Washington caves.

http://www.zerohedge.com/news/2015-03-22/washington-blinks-will-seek-partnership-china-led-development-bank

So essentially this is just the old “if you can’t beat ‘em, join ‘em” strategy disguised as an attempt to bring the AIIB into the fold of US-dominated multinational institutions.

But make no mistake, this is at best an example of Washington cutting its losses and at worst an outright surrender, as no one should pretend that the AIIB, which is starting with $50 billion in capital, will remain subservient to the AD...