Danish and Chinese netizens have just shared in a collective guffaw at America’s expense. The online lampoonery came after Denmark announced on March 28 its intent to join the Asian Investment Infrastructure Bank (AIIB), a China-led initiative aiming to provide loans and investment to developing nations in Asia. But the Obama administration’s opposition to the bank—U.S. officials, seeming to fear that Beijing’s initiative would reduce U.S. influence in the region, privately discouraged allies from joining—has made the Pacific power seem opposed to the $50 billion bank simply because it was China doing the leading. That means the influx of nations now eager to join the upstart leaves the United States with egg on its face.