From Reader WJ!

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China`s Shocking Move Toward World Domination & An Ominous Warning
http://kingworldnews.com/chinas-shocking-move-toward-world-domination-and-an-ominous-warning/

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China’s Shocking Move Toward World Domination And An Ominous Warning
May 21, 2016
China’s Shocking Move Toward World Domination And An Ominous Warning

With so much focus on the West’s massive money printing schemes, China has made a shocking move toward world domination. There is also an ominous warning as the Chinese move to dominate the world.

Stephen Leeb: “This past Tuesday, May 17, the Financial Times carried a story headlined ‘China Becomes Global Leader in Development Finance.’ And even I – who have been keenly following China’s progress, which relates directly to prospects of a big bull market in gold – was caught by surprise. After all, what about the World Bank, financed by the wealthy nations of the West? What about the Asian Development Bank, similarly controlled by Western countries? How could these venerable institutions, each of them charged with financing development in the less developed part of the world, have been overtaken by China?…

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Stephen Leeb continues: “And the article didn’t even focus on the newly launched Asian Infrastructure Development Bank (AIIB), which China inaugurated with much fanfare in January. To the chagrin of the U.S., many of our supposedly staunchest allies, including Great Britain, Germany, and the Philippines, rushed to join. The U.S. saw the bank as a frontal assault on the Western development banks mentioned above. Indeed on January 27, Reuters noted that ‘a successful AIIB that sets itself apart from the World Bank…would be a diplomatic triumph for China, which opposes a global financial order it says is dominated by the United States and does not adequately represent developing nations.‘

KWN Leeb I 5:21:2016

The implication of the Reuters article was that the AIIB was a potential threat, not an immediate one. After all, the AIIB is expected to lend only about $15 billion a year for the first five or six years of its existence. Those sums aren’t big enough to challenge the alleged hegemony U.S.-led institutions have in development lending.

But the Financial Times article doesn’t even mention the AIIB. Instead, it says that two other China-controlled banks, China Development Bank and the Export-Import Bank of China, rank first and third in development lending; the World Bank ranks second. But the combined lending by just these two Chinese banks is roughly equal to all Western lending to developing economies.