Economics
Larry Summers: The Past Month May Go Down as a Turning Point for U.S. Economic Power
Brutal
Former Treasury Secretary Lawrence Summers attends a news conference at the Asian Financial Forum in Hong Kong, on Jan. 14, 2013.
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In a new column, former Treasury Secretary Larry Summers delivers a scathing message (emphasis ours):
Summers is referencing the new Asian Infrastructure Investment Bank, China’s 18-month-old plan to start the first new multilateral development lender in decades. More than 40 countries applied to be founding members including China, Australia, Egypt, Ukraine, the U.K., France, Switzerland, India, and South Korea.