Recent developments:
According to Israeli media, Israel, which was behind the filing of the complaint in the US District Court in DC, filed papers, claiming that further cooperation with the litigation would undermine Israeli "National Security".
The plaintiffs, which started the action under the blessing of the Israeli gov, now claim that such "National Security" issues are bogus, and the real issue is Israeli-Chinese financial/economic cooperation.
Background:
US purports to hold jurisdiction over conduct of Bank of China in China, under "War on Terror", Such fabulous claims are made as part of claims for jurisdiction over banks worldwide - by a nation with notoriously corrupt banking regulation.
China dismisses such US claims.
China threatened Israel against cooperation with the US in this matter.
Israel submitted to Chinese pressure over cooperation with the US in a matter of terror against Israeli citizens in Israel.
Conclusion:
Tectonic plate movements:
- Declining US influence and rising Chinese influence in the Middle-East and beyond.
- Failure of the US to assert itself over the global banking system.
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