ZeroHedge – This Is Why The US Just Lost Its Superpower Status According To Larry Summers – 7 April 2015

ZeroHedgeIf Larry Summers were a country, he would have joined the Asian Infrastructure Investment Bank. With a backpedalling Washington now completely isolated in its opposition to the China-led venture and with support and enthusiasm running so high that even Beijing itself is apparently surprised, none other than “the hawk” that was almost, kind of considered for the chairmanship of the Fed is out with a sharp rebuke of the US stance calling March “the moment the United States lost its role as the underwriter of the global economic system.” Of course we’ve been persistent in our contention that the AIIB represents much more than an attempt on China’s part to provide an alternative source of infrastructure financing to fill the gaps left by the ADB, and as is made abundantly clear by the following, the “secret” is certainly out…

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