Israel applies to become founding member of China development bank

Tel Aviv bids to join 40 countries in the Asian Infrastructure Investment Bank in a move likely to widen rupture with the US

Benjamin Netanyahu has had strained relations with Washington over the last few months Photo: Getty

3:00PM BST 01 Apr 2015

http://www.telegraph.co.uk/finance/economics/11509242/Israel-applie...

The Israeli government has submitted its application to become a founding member of a controversial Chinese-led development bank, in a move that is likely to cause consternation in Washington.

Newly re-elected Prime Minister Benjamin Netanyahu signed a letter to join the Asian Infrastructure Investment Bank (AIIB) by the March 31 deadline, according to the country's foreign ministry.

Israel would become the latest country to join the 40-nation bank, which already includes the UK, Germany, France, Italy and Australia.

"Israel's membership in the Bank will open opportunities for integration of Israeli companies in various infrastructure projects, which will be financed by the bank," said an Israeli government statement.

The creation of the Bank, under the vision of Chinese premier Xi Jinping, has attracted criticism from the United States, who has warned their closest allies against courting better relations with Beijing.

Following Britain's application for membership, one US official told the Financial Times: "We are wary about a trend of constant accommodation of China, which is not the best way to engage a rising power."

• AEP: US risks epic blunder in treating China as an economic enemy

The AIIB aims to rival similar organisations such as the World Bank, and Asian Development Bank, in funding $100 billion in infrastructure projects across the Asian continent. Half of that amount has already been budgeted by Beijing.

^{China's premier is hoping to rival the likes of the IMF and World Bank with the creation of the AIIB}

Diplomatic relations between the Israeli government and the Obama administration have reached a nadir as the US has sought to strike a nuclear deal with Iran.

Israeli Prime Minister Netanyahu accepted an invitation to visit Washington last month, behind the president's back, addressing the US Congress and criticising the administration's attempts to broker a deal with Tehran.

US Treasury Secretary has called on the AIIB to complement existing institutions and adopt standards of governance.

The Israeli foreign ministry hailed the AIIB as a "diplomatic achievement" and "one of the most important initiatives in terms of Chinese foreign policy and in particular for President Xi Jinping."

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Comment by Snakedaddy on April 3, 2015 at 8:56pm: Dear China,

Don't let the jooz EVER, EVER get a foot in that door.

There really aren't many absolutes in life.

That, however, is one.

Comment by P.J.Kelley on April 3, 2015 at 3:17pm: We may have to start paying our annual tribute to Israel in yuan.

I honestly think Americans, when viewing this act of treachery, should blame themselves.

We accepted a political system that allowed a few monopolistic Zionist Media organs to control the public discourse.

We accepted a Jewish run Federal Reserve which was designed to undermine our economic freedom.

We let Talmudic Jews "invent" our popular culture and then allowed them to feel pride in this abomination.

We let Zionist education and Zionist medication for the Goyim dumb us down.

We let them Zionists grossly exaggerate the war crimes of Germany in WW2 against all reason and evidence.

We let these thugs lie us into wars, wars, wars, with the promise of more to come in Yemen and the Ukraine.

China's bank is designed to make the yuan the world's reserve currency, and they are right to try to replace the dollar because it is in their interest.

The Zionist entity, however, are shown for what they are by betraying the the USA. Judases. Do we need another repeat of the lesson?

Boycott Israel.

Don't eve vote for a dual citizen, and find out who is one.

Don't ever vote for a candidate who accepts money from Zionist sources.

There has to be more ways to make a concerted effort of nonviolent resistance against Zionists. We don't need to or should fight them. What they love is money. We need to defund them.