Will the AIIB one day matter? By Michael Pettis

Fascinating read by Michael Pettis on the international financial system, and why China’s new multilateral bank and currency are not likely to challenge America’s economic role in the world, which I’ve been arguing as the America haters try to drive the talking point that China’s AIIB is the beginning of the decline of America.

What does it all really mean?

After the Cold War ended, America’s GDP growth dramatically accelerated leaving most other nations in the dust, and in many situations, decades or more economically, and militarily behind the U.S.

China has seen spectacular growth over the last 25 years, but it’s currency is still weak, and it really doesn’t have the infrastructure or financial fundamentals to challenge, or even dominate the international global system of capital trades and international trade that America earned and dominates.

The imminent decline of the American empire is vastly overhyped.

Welcome to the American Century 2.0.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s