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[318] Europe joins Chinese bank as Greek woes continue

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Over the past couple weeks, large western countries led by the United Kingdom have rushed to join the China-run Asian Infrastructure Investment Bank. March 31st is the deadline for founding members and at least 35 countries, most of them in Asia, have joined. Germany, France, and Italy have followed Britain in saying that they would also join the bank. The eager European applicants have certainly annoyed the United States. Erin weighs in. Then, Erin is joined by Eswar Prasad – professor at Cornell University and senior fellow at the Brookings Institution. Eswar tells us how much the Chinese economy is slowing and explains why the US is against European countries joining AIIB. His overall view is that China can hit its 7.0% 2015 GDP growth target but the question is what kind of economic policy mix gets them there. China is trying to move away from manufacturing and this is a significant difference from a few years ago. After the break, Erin sits down with Ann Pettifor – director of PRIME Economics and author of “Just Money: How Society Can Break the Despotic Power of Finance.” Ann tells us how much political constraints in Greece, Germany, and elsewhere play into whether we get an equitable outcome in Greek debt negotiations and gives us her take on how Europe is doing economically. And in The Big Deal, Erin and Edward discuss recent numbers out of the Eurozone and China. The numbers were generally upbeat in Europe but they were weak in China. Take a look! Check us out on Facebook -- and feel free to ask us questions: http://www.facebook.com/BoomBustRT http://www.facebook.com/harrison.writedowns http://www.facebook.com/erinade2020 Follow us @ http://twitter.com/ErinAde http://twitter.com/edwardnh
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Text Comments (144)
Sam TheMan (9 months ago)
China makes Russia look like a very weak and U.S. will join and be one of the members of this bank question is how much money U.S. will lose before it joins?
Stefan Niky (10 months ago)
Good bye dollar 💵 Welcome China 🇨🇳 yuan
King Queh (11 months ago)
Once the dollar falls the US is done ppl don't understand that US can't just print more money. And if China dumps all the US bebts back on the US the country would be worthless.
dedi man (1 year ago)
end of white world the asian decades is back.... about time for this world to Prosper again
Richard Teh (1 year ago)
America is going bankrupt spending on unnessary Wars and supporting rebel and terrorism just to boost their weapons sale which see no return
pangtianran110 (1 year ago)
Don`t say US will fall. China invest in infrastructure. US bomb it to the ground. China build it agian. Dam that is smart move.
silent watcher (1 year ago)
If you can't beat them. join them. This is more practical than pride.
Nishant Patar (1 year ago)
Russia become slut for China. Advice : Dear, India it's time to quite BRICKS and Asian Bank.
girldairy (2 years ago)
Music from the begining is awesome
Shahid Awan (2 years ago)
American Nation is Innocent But American Establishment is Evil and Devil Mind
Ralph Stgermain (2 years ago)
the only good leader wouldn't negotiate, they would default and flee the euro
Ralph Stgermain (2 years ago)
I love her posture, It kept me from hearing her words, I just kept imagining he stance naked in my boat salon
Randy Hartono (3 years ago)
We don't need any kind of Controlling and Influencing by US Monetary Funds... Bye bye 👋 IMF and World Bank...
Date Rape Face (3 years ago)
Calm down, kids. RT is no better in terms of bias versus American mainstream media. Every news station has it's master. They all take their orders when it comes to what to report and what to leave out. Russian bullshit. Today, Russians and Americans are now more similar in the sense they're controlled virtually by a group of oligarchs.
Mike Cho (3 years ago)
Congratulations on these videos!!!! The China currency system is giving an alternative and new hope for those countries who are going through hard time economically. They have been looking for a new,better and more efficient way to do international trades and investments so that they could improve their countries' economy. The china's economy is impressive enough to attract more countries in Europe and they already are doing good business in china. These economical relationships with those countries will intertwine with international politics for improving new cultural exchanges, innovations, new business niches and true international investments.
bitterboi31 (3 years ago)
Oh yes, China did a great job in investing in the Bahamas ROFL....
dadaweiwei (3 years ago)
We watch it as a mere spectator. lol
USMCR (3 years ago)
"Not entirely altruistic....." LOL Yes. Because the IMF has been a shining beacon of righteousness and freedom. Gimme a damn break.
April April (3 years ago)
chinese dreams come true...making military bases, nuclear power plants, chinese colonies, monetary reform, and political punishment everywhere in allied countries, not only in asia but in europe!
Muhammad Alansari (3 years ago)
johnny dorilag (3 years ago)
every transactions china do, there's always a hidden agenda for their own benefits.. they are very wise in sales talk to convince everyone...their products made in china will tell the truth about who they truly are and what they're up to ..good luck AIIB members...
Mintchocookie z (3 years ago)
Can anyone tell me what's the name of this reporter? She's gorgeous!
Tommy Lei Nyo (3 years ago)
+Mintchocookie z Erin Ade and yes she hot :)
Troy F (3 years ago)
The 21st century will be the 'buy up' of the 3rd world countries. China is very clever to try to befriend 3rd world. They will be the new source of cheap labor for the elite's profit machine. No EPA regulations, no O.S.H.A. , no labor unions.   Very profitable and they won't even know that working with radioactive components is why they are going sterile. Looking at flags is part of the illusion. It is not China vs. Russia vs. USA. It is a small little sliver of a fragment of the people of Earth, the wealthy owners, vs. the rest of us, the commoners. They move their money (power) from one nation to the next and people don't see what they are doing. As the new power, let's say China, takes control away from the imperialist bad guy, the USA the people cry "hurrah it is a new day and liberty will prevail"  ..  oops  maybe not.   The paradigm that has to be broken is to allow individuals to achieve gigantic massive wealth/power compared to the commoners. We should have the opportunity to reap rewards from our efforts. The hard working and diligent should be able to acquire more than those who are satisfied to live on welfare, but to allow the rift between the rich and poor to reach this level is the basic problem that the world has.
Michael Zimmermann (3 years ago)
Aww. The poor terrorist American government is losing its grip as the worlds reserve currency. Next move will be a flood of American currency back to american shores. Wait till that pin drops! Lol
Ayy lmao (3 years ago)
The age of the whites is over, the time of the Yellows has come. -Gothmog
InferiorWhiteJock (3 years ago)
+Gnome Child That is true! It is amazing that we have held power for this long! It is time for us to be the slaves now!
Ayy lmao (3 years ago)
+InferiorWhiteJock Im white, and i cant say i disagree, yellows has always done it better than us.
gloi2 (3 years ago)
岡充太郎 (3 years ago)
One thing. We have never betrayed our words. Without US approval we don't participate in any attempts against US.
Tim X (3 years ago)
+manchumuq 只有内心自卑的人才觉得丢脸,东北人、蒙古族人、两广人都普遍吃狗肉,你包括海外的芬兰人、南北朝鲜人、越南人也吃,只是文化的不同,你爱狗他们不反对,他们爱吃狗你也管不着,如果你今天不吃牛羊肉、鸡鸭肉,还可以这么自命清高,否则的话就少来这一套!
岡充太郎 (3 years ago)
+Lisa Yuen Study economics somewhere or you are likely to be in superstition like most of Chinese.
Roy S. (3 years ago)
+Tim Siew Eating dog is really not a rightful way of representing Chinese. 别胡说八道丢给中国人了。
Tim X (3 years ago)
+岡充太郎 no,you are dog's lover or totally dog in other way
岡充太郎 (3 years ago)
+Tim Siew Yes, we are dog lovers.
Lili Bruce (3 years ago)
America is the world's largest terrorist stop 。He in the world war, led to the emergence of more terrorist organization. USA did not give local bring stability and peace and development .But the state of war, the destruction of homes and the people in the disaster .USA for their own interests, sacrificing the interests of all countries .USA did not bring peace to the world economic development, but the war and suffering.
Kevin Lyncon (3 years ago)
I think china is on the right path to their goal which their minted leader outlined in his inauguration two years ago ,Most of the common people live in china empathized with this idea about the theory of focusing on economical development even at some extent of  cost of human freedom and environmental damage ,after all ,liberty and idealism can not uplift our actual live standard which the people have seeked for hundreds of years, they know  what they really want. 
madmanjshum (3 years ago)
Given the rivalry between China and India, one can hardly expect an Indian economist to say anything positive and unbiased on any of the international projects initiated by China.
madmanjshum (3 years ago)
+Krishna Rao I couldn't agreed with you more.  Unfortunately Asians some how have difficulties coming together.  Cheers 
漢仔 (3 years ago)
Good move by China. Now what Chinashould do is to make sure they share the benefits with other members and not be greedy in bidding for projects for Chinese companies only. It needs to allow other companies from other ctries have a fair share in development of projects too. This is a very good way to improve its soft power too.
Thianro Uklian (3 years ago)
Good. Wake up USA. Too proud and too arrogance.
Customer Service (3 years ago)
She is HOT! I didn't pay attention to the topics talked about, her looks were too distracting. 
rjc071 (3 years ago)
A diplomatic blow the US is an understatement.  But then again, it's what the Fascists in D.C. wanted all along.
pool liver (3 years ago)
the reporter is really hot, what is her name?
Morgan Xiao (3 years ago)
the host is hot
Rubin Schmidt (3 years ago)
Will Greece be the 1st country, to join North Korea and Syria, free from a branch of the IMF. China is joining nothing, it's always been a member. !!!
Chen Chen (3 years ago)
What's the background music at the beginning?
MrVALENTIUS (3 years ago)
beautiful girl, but too skinny
Finn Hansen (3 years ago)
Yes a miss piggy would suit you fine :)
kougun2007 (3 years ago)
Miser country us. Embarrassing countries took part.
Piontro Pechetrini (3 years ago)
Wow The USA is loosing the war Wow!! She is HOT!!!!
Truthseeker (3 years ago)
it is an exaggeration to say China is "cooling off" or "slowing down".  If you earn 7% this year, add that to the total, and next year you earn at 6.5%, you are still earning more than you did last year. 
TheGodParticle (3 years ago)
Boom? Fucking where exactly? Lmao!
Castiel WEI (3 years ago)
she is beautiful 
ferkemall (3 years ago)
How many others have found out that their comments just DISSAPEAR !
jzizzles (3 years ago)
The US sound like a bunch of jealous punks telling other countries not to join. WTF is their problem? The U.S. is going to take a look at this 5 years from now and way, fuck, we should have joined too.
A Artisan (3 years ago)
+SuperDeluxe80 unless you share a land border with china, its very unlikely china will ever do anything to a debter country. China doesn't have a global military apparatus that destabilises and invades countries on the other side of the planet like the US.
coojsta69 (3 years ago)
+jZizzles and im suprised that it just keeps on happening as if everyone is suffering from memory loss !
jzizzles (3 years ago)
+coojsta69   Exactly. And especially for countries with OIL who decides to drop the dollar. They get bombed the fuck out.  Like Iraq who wanted to drop the Dollar. Look what happened to them. Entire country butt raped and their national treasures / cultural heritage stolen and shipped to Israel. What the US / Israel / Europe did was hella fucked up.
coojsta69 (3 years ago)
+jZizzles its the same deal with buying oil When china does it its no strings attached When America buys oil there is a list of rules for the seller It's amazing
杨瑜蕤 (3 years ago)
+SuperDeluxe80 wow, the old saying" China Dragon will eat all of you" ??  Boring...
Eugene L (3 years ago)
Hi lady, u r asking to the bullshit professor.
lukebccb (3 years ago)
This women news reporter reminds me of Charlize Theron.
Kevin VIN (3 years ago)
BURNHOT ROBINSON (3 years ago)
+lukebccb She wants me, but doesn't know it yet he he.
copa8 (3 years ago)
+Souvik Pratiher She's definitely a boom and has a bust.
Kevin VIN (3 years ago)
She is hot man gotta admit
Maanuve (3 years ago)
damn this babe is beautifull ;)
Richard Shorten (3 years ago)
Y Liu (3 years ago)
It is also a good wakeup call to USA, isn't it?
Muhammad Alansari (3 years ago)
BURNHOT ROBINSON (3 years ago)
+Y Liu We're more awake than ever, it's just that nobody can hear us. We know our govt wants us sick, dead or dying. We know they are sociopaths gone rogue. We know they have us in their crosshairs. We also want the rest of the world to know that our govt does not represent the American people anymore. We do not support them, we want this lunacy to end with justice being served. We want them exposed, arrested and punished to the fullest extent of the law allowable. The few good men that can make a difference…aren't.
Ella Shy (3 years ago)
Indeed but its our own people's fight with the elites I am afraid
Y Liu (3 years ago)
China enjoys with its economical development not only itself, but also together with other countries while USA is busy with making the trouble or wars everywhere. It is clear that the clever people always like who has the right direction. USA's dramatically decline is nothing to do with China, Russia or other countries, and even China has been trying hard to help USA because both are bounding together closely in economical fields since long, China lends a lot of money to USA. USA's enemy is itself. USA's long time greedy and selfish national and international policies is the main cause of its failure.
Troy F (3 years ago)
+Ezekiel 25:17 I'm going along with that.  Looking at national flags is an illusion. Y Liu makes it sound like the American people are the villain. The American people don't run the USA. The USA government is owned by the elites. Those elites move their base of operations from one nation to the next as profit margins change.   ..  If we went to a communist country, a republic, a dictatorship and a monarchy, we would see the same thing in all countries. The common people who just want a decent home to live in and enough food to feed their family are being raped by the wealthy owners who run the show.  ..  Funny how one of the original curses placed on mankind (the creation of money as a tool for greed) will play a large role in this, the climax of the play.      ..  Man ruling man  and using money as his government has almost failed. We should allow God to be the king.
John Dirk Taylor (3 years ago)
+Ezekiel 25:17 Agree with you and like your user name:- "And I will execute great vengeance upon them with furious rebukes; and they shall know that I am the LORD, when I shall lay my vengeance upon them". What really stinks in the US is, that the lowest paid people, has to fork out the highest amount on taxes. While billion dollar profit companies get subsidies and hardly pay any tax at all. Regarding health care, the US is worse than any 3rd world country. Most other developed nations look after its citizen with health care. So that nobody has to die, because they can't pay for a doctors visit or medications.
Ella Shy (3 years ago)
US economy benefits are mostly reaped by the financiers and unfortunately its the jews that has infiltrated US into its core administration and they know they need some drastic steps to reverse their decline. Having ally pacts was the right way during the cold war but who gives a shit about so called capitalist vs communist, its another propaganda cook up by the people that wants control and its really irrelevant now. I for one would like to clean my country of those greedy bastards once and for all and then rebuild by the true sons of America
John Dirk Taylor (3 years ago)
The US is bankrupt with over 18 trillion dollars debt and every one knows it. Why support a warmonger like the states, that spend 100 times more on weapons then any other nation? If the US thinks the rest of the world should pay for pompous spending and endless money printing, they very wrong. The rest of the world had enough of US corruption and dictatorship!
Ouroboros Null (3 years ago)
WTF? Erin, did your idiot guest _with that ridiculous accent_ ... Mr. Eswar Putput Prasad Babaloo ... a err _Professor_ (of pseudo economics) at Cornell University and _Senior Fellow_ (I.e. ZOG bootlicker) at the Brookings Institution ... just claim *that the USA's concern regarding the Asian Infrastructure Investment Bank (AIIB) is environmental in nature*????? Haah hahaha ha ha that is the funniest and most retarded thing any bobblehead has ever said regarding the AIIB. Is this 3rd world clown in a suit for real? He should wear a huge red bulbous nose when he says shit like that. Hilarious RT ... I didn't know "Boom Bust" was a comedy.
CloneD Anon (3 years ago)
+Luc Hellen I think that this program is for American audience (RT America) and thus the "comedy"...
成陈 (3 years ago)
Greece is a fucking thug country with bad reputation. They don't borrow money, they just rob.
Yuan Gao (3 years ago)
+Luc Hellen Don't be so harsh. Not everyone agree with him.
杨瑜蕤 (3 years ago)
+成陈 又与我们无关,你去拉些仇恨来干嘛?中华5000年优秀处世哲学就是“ 事不关己高高挂起”,这点知识你都不懂?
rjc071 (3 years ago)
+Indal He / she is worse than that.
成陈 (3 years ago)
+gloi2 西半球希腊,东半球朝鲜,两个无赖。
John Sumner (3 years ago)
the biggest bully in the play ground [ usa ] is losing its grip on those who dislike its company ,the irony is they didnt have to be like this , and so life will be good again one day when force is replaced with respect , and this is what i see happening now.
+Swagato Barman Roy Thatcher was not a great leader.
Jason Rahimzadeh (3 years ago)
Eswar Prasad is a polished, professional propagandist.
Paul Reynolds (3 years ago)
Great episode Erin & Ed! (touch fists)
Pinstripe 666 (3 years ago)
Oh it's Mrs. Pettifor again! Stammering the same nonsense over Germany vs Greece again.
Richard Leighton (3 years ago)
Sound Heads, good wise leadership. They created the mess, not the Greeks, These "Sound Heads" they want their blood money. So those inexperience Greeks at least have a hint of morality, caring about the suffering of Honest People. Keep to your sound heads, your neo liberals and watched as the their heads begin to roll in Greece, Italy Spain, Ireland etc. Jail those Bankster Basters and the politicians and media they own.Rid us of these psychopaths who only no greed any nothing of human kindness.Maybe we can prevent total economic collapse and blood in the streets.
Swagato Barman Roy (3 years ago)
Not to sound sexist, but in my humble opinion, Merkel is the best woman leader in the European political landscape since the time of Maggie Thatcher. It is absolutely senseless to blame her for the Greek tragedy where the government promised things far beyond its means, borrowed recklessly and then the Greek population elected the socialist thugs hoping to get a free ride. Only a Keynesian like Pettifor can lay the blame on Merkel. The problem with Keynesianism is debtors feel entitled to bailout and as if it is a great thing to borrow and spend. 
samuel jacques (3 years ago)
just wandering i think they did the new zealand join the bank i think they did but yet EU countries joined the club i guess you could say but of course te US wasn't happy cos it puts a bit of a hole in the US based power structure, i guess for once i would agree with Eswar Prasad on the fact that beijing could get the growth target how ever they want really but Ed is right is saying that that could end up with quote "mel investment" which isn't good. i guess my question to you guys is how do you see china getting growth and how with the growth is obtained each year which is a flow on from Eswar Prasad point
ewan hussami (3 years ago)
looks like shares in the great united SNAKES "freedom and democracy" pyramid scheme are not so popular anymore. i wonder why?
Yang (2 years ago)
Practice is the sole criterion for testing truth... The results of the democratic experiment make the western style democracy lose its aura
ewan hussami (3 years ago)
+Lisa Yuen i totally agree with you. political corruption leads to financial corruption leads to monetary corruption leads to economic, political and financial collapse. it always has and it always will. my personal interests are in monetary integrity. once this is achieved political and economic integrity will HAVE to follow. but as the adage goes, once you idiot proof something, some one will become a better idiot. ;) especially in the field of the political arts. hopefully monetary integrity can by pass the need for the lame ass, self delusional moochers altogether. peer to peer trade and interaction without the need for parasitic third party intervention is the natural mode of "human" progress and evolution. :)
Why is Europe stampeding to get into China's AIIB? Because the way the E.U. is going they all may need a handout! They are joining out of fear of the unknown. China is rising and they are falling. AIIB is a lifeline at this point.
Con Craft (3 years ago)
I hope for my country Canada to join this AIIB!
Green World (10 months ago)
Con Craft ...They have already joined.
Steve JessJess106 (3 years ago)
+Con Craft same.
Eddie Cheang (3 years ago)
+Gregory Maillis +Lisa Yuen . Some people are mentally and intellectually inferior, hence, they depend on vulgarity, threat and violence to put up their arguments. We should sympathize with these type of people.
Eddie Cheang (3 years ago)
+Lisa Yuen Yes, Lisa, we need more people like you in this world. As for that vulgar, cursing chap, please ignore and forgive him. He'll learn his lesson sooner than later.
COGS's CORNER (3 years ago)
Move away from the USD, tick tock tick tock
Sam TheMan (9 months ago)
Without reforms in finance sector (Wall Street) USD will collapse because international crisis was caused by Wall Street and everyone know that without reform which Congress will not allow reforms USD will collapse. It is just matter of time when USD will collapse. Only this bank will save the world from catastrofe because it is not in Wall Street hands and everyone knows that even U.S. and that is why most of the world joined and U.S. will join there is no question about it! China is acting responsible because they know if USD collapse they will collapse as well and they are creating this new bank as safeguard from collapse of world economy.
Rojel Husain (3 years ago)
+COGS's CORNER That's harder than you thought
jerran sperarman (3 years ago)
great show erin

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