It’s been a while since any global development has generated so much hypocrisy, baloney, and hypocritical baloney as China’s new Asia infrastructure bank and America’s response. (OK – maybe it’s only been a couple of days.) Still, the hubbub about something whose name is dominated by a MEGO word if ever there was one (‘infrastructure’) is worth examining again. For it once again reminds that U. S. leaders, as well as most of our leading commentators, really aren’t smarter than a fifth grader when it comes to foreign policy, international relations, and the Pacific Rim.
Last week, I focused on how the rush of American allies to join the Asian Infrastructure Investment Bank (AIIB) exposed the folly of President Obama’s dream of a Pacific Rim trade zone that would be governed by U. S.-style commercial rules. Since then, however, it’s become embarrassingly clear that the same ridicule is deserved by the president’s belief that his Trans-Pacific Partnership (TPP) trade deal will balance rising Chinese power in the region. For Japan is now apparently ready to join the long list of TPP countries (including Australia, one of the planned pact’s other major economies) that is signing up with the Chinese. Whether Mr. Obama really does believe in ‘leading from behind’ or not, it’s getting painfully obvious that he has precious few followers.
In addition, some recent commentary shows that it’s imperative to dispel two other myths surrounding the AIIB and hanging over the future of the Asia Pacific region and the rest of the globe.
This post was published at Wall Street Examiner by Alan Tonelson ‘ March 30, 2015.