Israel’s decision to join the AIIB is but another indication
of a growing Israeli readiness to defy US President Barack
Obama. Israel is definitely taking some eggs out of the American basket.
By Emmanuel Navon
In October 2014 China established, together with other Asian countries, the Asian Infrastructure Investment Bank (AIIB). The creation of the AIIB was a consequence of China’s exasperation at America’s refusal to reform the Bretton Woods institutions (i.e. the International Monetary Fund, or IMF, and the World Bank) and the Asian Development Bank (ADB).
Photo from AIIB Site AIIB
For years, China has asked to reform the IMF and the World Bank so as to reflect the global clout of the Chinese economy.
Israeli New Shekel Exchange Rate