Essay About Asian Infrastructure Investment Bank And Ongoing Discussion Of The Creation Of A New Brics

Contain China
Introduction:        The Containment Policy of the United States refers to the prevention in the expansion Reasons why we should contain China before they upraise above the United States.BANKThe AIIB (Asian Infrastructure Investment Bank)                According to an article “ A New U.S Grand Strategy towards China” published on the nationalinterest.org on April 13, 2015.        “ The recent Asian Infrastructure Investment Bank (AIIB) debacle led to understanding how China’s ascent is aimed at challenging American global reach”. It is poised to undermine the influence of the United States-led World Bank and International Monetary Fund while institutionalizing Chinas geo-economic persuasion in the Asia-Pacific. Already Italy, France, Britain, Germany, South Korea, Denmark, and Australia have signed on as members of the AIIB, with Thailand and Taiwan coming close to an entry as well. The United States remains on the outside looking in as its influence is directly challenged by China’s rise.  BRICS        There is also an ongoing discussion of the creation of a new BRICS (New Development Bank) between Brazil, Russia, India, China, and South Africa. The BRICS bank is a multilateral development bank as an alternative to the existing US-dominated World Bank and International Monetary Fund. According to an article “New BRIC’s Bank to change Worlds Financial System” published on March 12, 2015 on Pravda.ru, Argentina, Mexico, Nigeria, Indonesia and several other countries have announced their readiness to join BRICS. “Thus, the foundation of the New Bank will continue to grow. It is assumed already that the bank will be one of the largest multilateral development institutions with the stated capital of 100 billion dollars”.  TRADEChina is pursuing a number of additional initiatives to expand its strategic reach in Asia and beyond. China has announced plans to advance a Free Trade Area of the Asia Pacific (FTAAP) and Regional Comprehensive Economic Partnership (RCEP)- trade agreements that link the economies of China, Japan, and India along with Southeast Asian Countries. (Malaysia, Philippines, Indonesia, Singapore, Thailand, Cambodia, Vietnam)        Beijing is concurrently promoting the creation of a New Silk Road, which would open trade routes through Central Asia and maritime routes around Southeast and South Asia, better connecting China geo-politically to growing Asian economies and through them, to the Middle East and Europe.