Global Economy - Markets - Finance

U.S. dollar expected to crash as Western countries flock to rival Chinese bank

U.S. dollar expected to crash as Western countries flock to rival Chinese bank – zero hedge.com

by Tyler Durdendollar-tsunami_0_0-600x260The global de-dollarization trend continues as it appears the UK’s move to join the China-led Asian Infrastructure Development Bank has indeed shown other US “allies” that spurning Washington’s advice is actually acceptable and concerns about the institution’s “standards” may simply be a diversion aimed at undermining China’s attempt to exercise more influence in its own backyard. Here’s more from the NY TimesIgnoring direct pleas from the Obama administration, Europe’s biggest economies have declared their desire to become founding members of a new Chinese-led Asian investment bank that the United States views as a rival to the World Bank and other institutions set up at the height of American power after World War II. Read Full Article