The Chinese are coming.

After WWII the financial hegemony of the US and Europe in the IMF and International Bank was established. Later, the Japanese came to dominate the Asian Development Bank. That is now being challenged by China. See article below by William Pesek in ‘Bloomberg View’, subject ‘China steps in as world’s new bank’.  John Menadue.

http://www.bloombergview.com/articles/2014-12-25/china-steps-in-as-worlds-new-bank

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John Laurence Menadue is the publisher of Pearls & Irritations. He has had a distinguished career both in the private sector and in the Public Service.

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