The Chinese have let it be known that they are unimpressed with Danny Alexander being the British nomination for their Asian Infrastructure Investment Bank, a post-Bretton Woods multilateral agency that is another sign that the global economy is shifting East. The FT reports that the AIIB advertised for vice-president rank positions requiring candidates have a
“minimum 20-25 years in a leadership function and position of influence in multilateral development bank(s) or equivalent”.
Danny of course was Chief Secretary to the Treasury for 5 years, a politician for a decade and prior to that a press officer for the Cairngorms National Park Authority. How this really qualifies Beaker for a board level position at a crucial multilateral investment bank escapes Guido and the unimpressed gerontocracy in Beijing. Everyone in SW1 sees it as a lucrative sinecure gifted from a grateful George Osborne that will open up other highly paid positions for Danny. The AIIB has given him responsibility for “communications”. The German nominee – a career banker – has been given the chief operating officer role. Expect German industry to sell a lot of heavy plant equipment to Asia financed by the AIIB…
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