well, good for US but bad for walk street banker, well, they are the one that lose out on the multi million bonus from selling the loan
It does not actually matter what kind of currency they loan out actually as they would have to exchange to USD before using them anyway, since the world is using USD as international trading currency, so if Chinese bank lend to say Nairobi customer thru AIIB, even the Chinese bank issued the loan in RMB, they cannot be transfer directly to Nairobi in RMB and have to convert them to USD.
The only benefit to China if they lend out loan within China, but then the local bank will lose out, which I dont think Chinese government would allow this to happens
Lol, China is strong? With 7000 GDP per capita?
Well, maybe when you double that, then we can talk. British dont need Chinese money, as I said, they are smart, they earn money any way as possible, if you ask me, I think US bank should also join AIIB if they are allowed, why not? Its business and money.
There are no relation between money and international alliance, money is private, the government does not own citizens money, but foreign relation is public, they always do things differently, again US have been burn at least 10 times in the last 100 years by thinking what you think, do you think Singapore joining AIIB then China will be able to request the singaporean to get rid of the American base in Singapore? lol. I cant stop you to think like that. But I am just telling you, they will just take Chinese money with a smile while carry on doing whatever they were doing. Ala Cuba in 1950, Vietnam in 1960, Iran in 1970, Afghanistan in 1980 and Venezuela in 1990. If you think China can do thing different then, well do