Presstv... Brazil has accepted an invitation from China to join the Asian Infrastructure Investment Bank, despite the United States warning several of its allies against the move.
President Dilma Rousseff had previously said Brazil was “very interested” in joining as a founding member of the China-led investment bank — which will finance infrastructure projects in the Asia-Pacific region.
The bank was launched last year with around 20 countries initially laying the ground work, headed by China — but at least 20 more nations have now signed up, including the United Kingdom, Russia and Switzerland.
Even though a number of countries declaring their interest in the Asian investment bank have strong links with the United States, including Brazil — commercial interests appear to win out on this occasion.
Washington is concerned over how the new China-led bank would be run, and its potential impact on global leaders it dominates, such as the International Monetary Fund, the World Bank, and the Asian Development Bank — which the US fears could lose influence.
But while the US remains skeptical about the venture, Denmark and Australia have now also signaled their intention to join. The number and breadth of countries wanting to join the new investment bank has taken both Washington and Beijing by surprise.
Several countries joining the new China-led investment bank have said their decision does not preclude them from continuing to work with other global lenders, such as the IMF — but many will undoubtedly see this as a strategic shift away from institutions dominated by the US.