Inclusive AIIB to boost sustainable growth
Updated: 2016-01-15 08:24
By Zhang Zhouxiang(China Daily)
|
||||||||
The AIIB will play a complementary role to the existing global financial institutions such as the World Bank and the Asian Development Bank, and together they can build a dynamic financial system to support global growth. The AIIB will be cooperative in nature, and its focus will be on infrastructure.
Of course, the AIIB will compete with other financial institutions but for the betterment of all economies. For instance, after China initiated the move to establish the AIIB, the World Bank increased its investment in Indonesia and began paying greater attention to Pakistan. No financial institution wants to lag behind when it comes to common efforts, but the AIIB won't compete with the ADB and World Bank to challenge the existing world financial order.
Besides, the AIIB will help emerging markets enjoy greater say in global financial matters by promoting economic cooperation and sustainable growth.
Although the name Asian Infrastructure Investment Bank suggests the bank's focus will be on Asia, its influence will not be limited to Asia. The AIIB will provide a platform for Asian economies and their partners to work with each other and propel the economic integration of Asia and the regions beyond.
Xu Hongcai, director of the Department of Economic Research at the China Center for International Economic Exchanges
- Global health entering new era: WHO chief
- Brazil's planning minister steps aside after recordings revelation
- Vietnam, US adopt joint statement on advancing comprehensive partnership
- European border closures 'inhumane': UN refugee agency
- Japan's foreign minister calls A-bombings extremely regrettable
- Fukushima impact unprecedented for oceans: US expert
- Stars of Lijiang River: Elderly brothers with white beards
- Wealthy Chinese children paying money to learn British manners
- Military-style wedding: Fighter jets, grooms in dashing uniforms
- Striking photos around the world: May 16 - May 22
- Robots help elderly in nursing home in east China
- Hanging in the air: Chongqing holds rescue drill
- 2.1-ton tofu finishes in two hours in central China
- Six things you may not know about Grain Buds
Most Viewed
Editor's Picks
Anti-graft campaign targets poverty relief |
Cherry blossom signal arrival of spring |
In pictures: Destroying fake and shoddy products |
China's southernmost city to plant 500,000 trees |
Cavers make rare finds in Guangxi expedition |
Cutting hair for Longtaitou Festival |
Today's Top News
Liang avoids jail in shooting death
China's finance minister addresses ratings downgrade
Duke alumni visit Chinese Embassy
Marriott unlikely to top Anbang offer for Starwood: Observers
Chinese biopharma debuts on Nasdaq
What ends Jeb Bush's White House hopes
Investigation for Nicolas's campaign
Will US-ASEAN meeting be good for region?
US Weekly
Geared to go |
The place to be |