May 6, 2014
China Buys Friends and Influences Nations
William Pesek, Bloomberg
The Associated Press
If you can't beat them, outspend them. That seems to be the thinking behind a huge new infrastructure investment fund being promoted by China as an alternative to established international lending agencies. It’s a terrible rationale for starting a bank -- and a good reason to reform the current international system, which remains dominated by Americans, Europeans and Japanese.