America has lost it's dominance and influence amongst US allies, and it is has never been more abundantly clear than over the last month, as ally after ally "defy" the US and apply to join the Asian Infrastructure Investment Bank (AIIB) which is a China-led investment bank which many believe could "supplant the US-dominated International Monetary Fund," according to RT.
Seeing the writing on the wall, first Britain announced it would join "China's answer to the World Bank," described as in "defiance of US pressure," by Financial Times, inciting a response from the US in the form of a statement quoted by FT, which read "We are wary about a trend toward constant accommodation of China, which is not the best way to engage a rising power." (Source)
The flood gates opened after Britain made their announcement on March 12, 2015, and on the heels of their decision, Germany, France and Italy followed suit, leaving the US and the Obama administration "bitter and isolated," AlJazeera reports.
Adding insult to injury for the Obama administration, now Australia and Denmark have announced they will also be applying to the AIIB. Reuters reports that Taiwan and Norway have also met the March 31 deadline for application and reports also indicate Finland and Egypt will be joining.
The pièce de résistance was added when Russian First Deputy Prime Minister Igor Shuvalov announced Russia also plans to join the AIIB, a move described by Moscow Times as "adding clout to an institution seen as enhancing China's regional and global influence."
