With nothing of interest to post over the past few months it is with great surprise that the Australian government has developed a backbone and broken away from its US masters by intending to join the newly established Asian Infrastructure Investment Bank (AIIB) created by China.
Australia could have been a founding member of the bank but the US govt applied pressure and our politicians folded. It was only after the UK signalled its intention to join that good old Aussie politicians told the US where to go. Why didn’t the US want Australia (or any other of its colonies) to join? They wanted every other country to use their bank (Washington based World Bank).
This is a great move for our country as the AIIB is designed to assist in the development of infrastructure throughout the region, Buildings, roads, bridges etc, which will have a positive flow on effect for our exports and terms of trade. Speaking of trade, the next thing our politicians need to do is open up transparency on the Trans Pacific Partnership agreement so we can all see what exactly is being negotiated away.