As the U.S. government goes deeper into debt and loses influence around the world while Beijing rises, even traditional U.S. allies are rushing to join a controversial Communist Chinese-led international bank expected to play a major role in advancing globalization and so-called “global governance.” The Shanghai-based Asian Infrastructure Investment Bank (AIIB) already includes many of the world’s most powerful governments, with its list of prospective founding members growing to almost 50. Some analysts are even claiming a new era of “Pax Sinica” is replacing the supposed U.S.-led world order of past generations.
Despite establishment efforts to paint the AIIB as a potential “rival” to existing globalist institutions such as the International Monetary Fund and the World Bank, the Beijing-led bank will fit nicely with what the Communist Chinese regime and Western globalists all regularly refer to as the emerging “New World Order.” This was made clear by the regime itself. Chinese Foreign Ministry spokesperson Hua Chunying, for example, said that the founding of the bank is a “constructive move that will complement the current international economic order and enable China to shoulder more global responsibility.”
Meanwhile, as traditional U.S. allies such as Taiwan, South Korea, the United Kingdom, and Australia hop onboard, the moves have been painted as a “snub” or even “black eye” to a bewildered and incompetent Obama — particularly because the existing U.S.-backed Asian Development Bank already does much of what the new Beijing-led bank is expected to do. Indeed, the Obama administration has also reportedly expressed some concerns about “lending standards” at the AIIB. And multiple news reports claimed Washington, D.C., tried to pressure its allies not to join the Communist Chinese initiative.
Obama’s Treasury Secretary Jack Lew, however, despite a few stated reservations, sounded enthusiastic about the communist dictatorship’s scheme. “We very much welcome China’s increased participation in infrastructure investment, and the concerns we’ve raised about the need for standards continue,” Lew was quoted as saying by the Associated Press. “The initial decisions of what kinds of projects are invested in will obviously be a very important signal as to how they’ll proceed,” Lew said. The Treasury boss also claimed that bilateral discussions about the AIIB had been “cooperative and collaborative.”
According to reports in Chinese regime-controlled propaganda outlets, Lew visited China and indicated that the U.S. government was “changing its mind” about the AIIB. In a “commentary” on the situation, Xinhua portrayed it all as evidence that Uncle Sam was losing its clout and that Communist China was rising. Painting the AIIB as a mere “complement” to the “flawy” international lending system largely led by global outfits heavily influenced by U.S. officials, Xinhua reported that the new Asian bank was simply aimed at bridging a “gap.” The U.S.-backed ADB would be able to provide only some $13 billion annually in financing for Asian development, while the bank’s own estimates projected up to $8 trillion in demand between 2010 and 2020.
The purported geopolitical implications described in the piece were even more revealing. “By trying to forge an anti-AIIB front within its allies, Uncle Sam has, intentionally or involuntarily, turned the AIIB into a test of diplomatic strength,” the Chinese propaganda and espionage agency reported. “Ironically, the front was broken by its own allies. The AIIB has gained wide support not only in Asia but also in Europe, which clearly told Washington that it had picked up a wrong fight.” Xinhua also claimed that “hard-nosed” politicians in D.C. had turned the AIIB “into an America’s [sic] diplomatic fiasco.”
Kremlin-controlled media echoed the Communist Chinese line, painting the emergence of the bank and the apparent defection of staunch U.S. allies as a sign that Uncle Sam was becoming irrelevant on the world stage — with Beijing taking its place. “The multinational rush by Asian and non-Asian countries, many of them longstanding allies and friends of the United States, left the Obama administration bewildered and its ‘pivot to Asia’ a laughing stock,” author and analyst Wayne Madsen was quoted as arguing by Sputnik News, adding that “Pax Americana” was being replaced by “Pax Sinica.” Putin’s regime is also among the AIIB cheerleaders and founders.
Other analysts painted the AIIB scheme as a clever, if ill-intentioned, example of Communist Chinese statecraft, dividing Western allies for nefarious purposes. “Confusion is the result, and further friction and conflict inside the EU, in the G7 and across the Atlantic are foreseeable,” argued senior advisor Volker Stanzel with the establishment-minded German Marshall Fund of the United States in an analysis of the jostling surrounding the AIIB scheme. “‘Divide and rule’ is an art mastered long ago by Beijing.”
While the entire saga is being painted in both the Eastern and Western establishment press as an embarrassment for the Obama administration, the reality does not appear to be quite so simple. In fact, despite the apparent “coolness” from the White House toward the AIIB plan, the administration and the globalist establishment it represents have played a crucial role in the well-coordinated effort to boost Communist Chinese influence over increasingly powerful “global governance,” all at U.S. expense. Consider, for example, the administration’s efforts to reduce U.S. control over the IMF by giving Beijing and Moscow a greater role.
The IMF chief recently said the outfit’s headquarters could even be moved to Beijing. Top Chinese Communist officials and central bankers, meanwhile, have for years been openly proposing moving forward with an IMF-run planetary currency regime to replace the U.S. dollar as the global reserve — a prospect that Obama’s previous Treasury secretary said the administration was “actually quite open to.” Indeed, prominent analysts have suggested that world powers and Western central banks are deliberately suppressing gold prices to help Beijing accumulate more of the precious metal ahead of a dramatic globalist reform of the international monetary system.
And while Beijing has been painted as a foe of the Western-dominated IMF and the broader “global governance” architecture, the facts paint a different picture. “A super-sovereign reserve currency not only eliminates the inherent risks of credit-based sovereign currency, but also makes it possible to manage global liquidity,” wrote Chinese central-bank boss Zhou Xiaochuan in his public paper calling for a world currency run by the IMF. “A super-sovereign reserve currency managed by a global institution could be used to both create and control the global liquidity. The centralized management of its member countries’ reserves by the Fund will be an effective measure to promote a greater role of the SDR [Special Drawing Rights, the IMF’s proto-global currency] as a reserve currency.”
Of course, elements of the Western establishment have always been close to China’s communist autocrats — even before they seized power with indirect U.S. assistance and butchered tens of millions of innocent people. “Whatever the price of the Chinese Revolution, it has obviously succeeded not only in producing more efficient and dedicated administration, but also in fostering high morale and community of purpose,” claimed banking magnate David Rockefeller, a key architect of the so-called “New World Order” and the outfits that promote it, in the New York Times in 1973. “The social experiment in China under Chairman Mao’s leadership is one of the most important and successful in human history.” It seems the time is coming for the establishment to take the model global.
More recently, the globalist establishment has become even more open about the end-game. Rothschild dynasty-backed billionaire financier George Soros, one of Obama’s most important backers, even put it explicitly, saying Communist China should “own” the “New World Order” in the same way the United States owns the fast-declining current world order. “I think you need a New World Order, that China has to be part of the process of creating it and they have to buy in, they have to own it in the same way as the United States owns … the current order,” Soros told the Financial Times in 2009 when asked what Obama ought to discuss with the mass-murdering communist regime on his visit to Beijing.
The brutal autocracy ruling mainland China, meanwhile, has become increasingly vocal about its ambitions for what it has referred to as a “de-Americanized” “New World Order.” Just last year, it issued a statement with 132 other national governments and dictators demanding a “New World Order to Live Well” in which Beijing and other Third World regimes would have a much greater say in “global governance.” Before that, it joined with the so-called BRICS — the socialist and communist-minded regimes ruling Brazil, Russia, India, China, and South Africa — to openly call for a world currency run by the IMF.
Ironically, perhaps, Obama himself — whose administration invited Communist Chinese troops to train with U.S. forces on American soil — called Beijing a “free rider” in the global system and suggested the regime should participate more fully in managing humanity. And that is exactly what is happening. By defying the Constitution, crushing private enterprise, borrowing and printing trillions of fiat dollars, and much more, the political class in Washington, D.C., appears to be deliberately bringing down the United States to make way for a Beijing-led, “multi-polar” New World Order. That might be nice for the tyrants enslaving and exploiting the Chinese and other oppressed populations. For the American and Chinese peoples, humanity, liberty, free markets, Western civilization, and prosperity, though, it will be an unmitigated disaster.
Photo at top shows Chinese President Xi Jinping (front center) with the other government leaders and guests who attended the signing ceremony of the Asian Infrastructure Investment Bank at the Great Hall of the People in Beijing, Oct. 24, 2014: AP Images
Alex Newman, a foreign correspondent for The New American, is normally based in Europe. Follow him on Twitter @ALEXNEWMAN_JOU. He can be reached at [email protected]
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