It sounds like China is trying to develop an alternative to the western led International Monetary Fund (IMF) and is trying to rope South Korea into being part of it:
A policy coordination meeting among members of the ruling party, the administration and the Blue House was held Sunday at the prime minister’s residence in Seoul. Thaad and AIIB were expected to be discussed.[NEWSIS]Seoul is caught up in a messy diplomatic tangle with the United States and China as it deliberates sensitive issues that can alienate one ally or the other.
Korea is especially conflicted over the issues of whether to deploy a Washington-led Terminal High Altitude Area Defense (Thaad) missile defense system in Korea, which Beijing is opposed to, or to join the China-led Asian Infrastructure Investment Bank (AIIB), which Washington doesn’t like.
Both issues are on front burners as high-ranking officials from Washington and Beijing will be in Seoul this week.
Liu Jianchao, Chinese assistant minister of foreign affairs, kicked off a four-day visit Sunday, according to the Korean Ministry of Foreign Affairs, his first trip to Seoul since he took the post in 2013. Liu heads to Tokyo afterwards.
Daniel Russel, U.S. assistant secretary of state for the Bureau of East Asian and Pacific Affairs, visits on Monday for two days. Russel is expected to check on Ambassador Mark Lippert, who is recovering from a knife attack by a radical nationalist in Seoul earlier this month. His visit is expected to be an opportunity to emphasize the Korea-U.S. bilateral alliance.
Both envoys will meet with Deputy Foreign Minister for Political Affairs Lee Kyung-soo and Vice Foreign Minister Cho Tae-yong. [Joong Ang Ilbo]
Some things that China has promised S.Korea, if S.Korea joins as one of the founding members, S.Korea will be considered as a permanent executive member as a high voting power member, the headquarters will be located in Seoul, and there are lot more other goodies China is willing to throw in. I don’t know what they’re waiting for, but S.Korea should join immediately, particularly in lieu of its very weak voting power in the IMF and World Bank where the Americans control everything, refusing to give more voices to the Asian powers compared to their economic strengths particularly compared to the Western Europeans with their falling economies.
It’s long overdue that Asian powers get together to counter the white boy’s clubs.
ChickenHead
11 years ago
Tom is strangely correct… even (in spirit) in his last statement.
The Asian Pivot had better get on the program… and fast.
The Middle East has been important due to oil. If not for that, it would have been ignored more than sub-Saharan Africa while he primatives fought it out over the best campsite around the oasis.
With alternative energy sources coming online, a good strategy is throwing the Middle East into a holding-pattern of internal conflict and disarray… while focus moves to areas with new influence based on new resources… in this case, North Asia with human resources.
America should stay in Korea and Japan, pressure the Philippines for a re-invite, and look for another permanent presence somewhere from Vietnam to Indonesia.
The more fingers in the cookie jar, the more cookies one gets to eat… and the more control over who gets a cookie.
Denny, it doesn’t matter if those European countries joins. They will be treated exactly the same way, as they have treated the Asian countries when it came to making high decisions in the IMF and the World Bank. That is, they’ll have virtually no power and no say in anything. This is an Asian bank for Asia and its Asian people. Europeans, like the Asians in the IMF are, will be token members.
Some things that China has promised S.Korea, if S.Korea joins as one of the founding members, S.Korea will be considered as a permanent executive member as a high voting power member, the headquarters will be located in Seoul, and there are lot more other goodies China is willing to throw in. I don’t know what they’re waiting for, but S.Korea should join immediately, particularly in lieu of its very weak voting power in the IMF and World Bank where the Americans control everything, refusing to give more voices to the Asian powers compared to their economic strengths particularly compared to the Western Europeans with their falling economies.
It’s long overdue that Asian powers get together to counter the white boy’s clubs.
Tom is strangely correct… even (in spirit) in his last statement.
The Asian Pivot had better get on the program… and fast.
The Middle East has been important due to oil. If not for that, it would have been ignored more than sub-Saharan Africa while he primatives fought it out over the best campsite around the oasis.
With alternative energy sources coming online, a good strategy is throwing the Middle East into a holding-pattern of internal conflict and disarray… while focus moves to areas with new influence based on new resources… in this case, North Asia with human resources.
America should stay in Korea and Japan, pressure the Philippines for a re-invite, and look for another permanent presence somewhere from Vietnam to Indonesia.
The more fingers in the cookie jar, the more cookies one gets to eat… and the more control over who gets a cookie.
France, Germany, Italy to join China-led AIIB.
http://rt.com/business/241365-china-bank-eu-usa/
Denny, it doesn’t matter if those European countries joins. They will be treated exactly the same way, as they have treated the Asian countries when it came to making high decisions in the IMF and the World Bank. That is, they’ll have virtually no power and no say in anything. This is an Asian bank for Asia and its Asian people. Europeans, like the Asians in the IMF are, will be token members.