Inclusive AIIB to boost sustainable growth
Updated: 2016-01-15 08:24
By Zhang Zhouxiang(China Daily)
|
||||||||
Some Western media outlets have compared the AIIB with the US Marshall Plan, which was aimed at the economic revival of Europe after World War II. The comparison was not heard for some time, but it is being used again as the AIIB's opening ceremony approaches.
There are fundamental and obvious differences between the AIIB and the Marshall Plan. The AIIB is a formal international institution comprising 57 members that have vowed to work in a cooperative and democratic way. Also, despite floating and executing the idea of the AIIB, China does not seek dominance over the bank or control over other members. In contrast, the Marshall Plan was dominated by the US, and Western European countries got "help" from it instead of "participating" in it.
Besides, the AIIB will function according to market rules and invest only in programs that have market potential. The AIIB is an open and fair financial institution whereas the Marshall Plan was driven by political interests and imposed strict conditions on the aid-receiving countries.
China has already made it clear that the AIIB will not impose any political conditions on any member. The fact that the Philippines has joined the AIIB in spite of having a maritime dispute with China is the best example of the AIIB's openness and, hence, it is absurd to compare it with the Marshall Plan.
Huang Yiping, a professor of economics at the National School of Development, Peking University
- 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 |