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Accord reached on key bank [Copy link] 中文

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Post time 2014-10-25 05:13:35 |Display all floors
President Xi Jinping and representatives from the 21 countries involved in setting up the Asian Infrastructure Investment Bank meet at the Great Hall of the People in Beijing on Friday. Each nation's stake in the lender has been generally allocated based on its GDP. WU ZHIYI / CHINA DAILY  

Regional lender with Beijing HQ set to start work before end of 2015
A milestone agreement has been reach ...

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Post time 2014-10-25 05:13:36 |Display all floors
Asia for Asians!  Go Asia!

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Post time 2014-10-25 05:37:49 |Display all floors
wow the US could influenced south corea, down under & Indonesia not to join the worldbank
a man who uses his hands is a laborer. one who uses his hands and his mind is a craftsman. but he who uses his hands, his mind, and his heart, is an artist...

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Post time 2014-10-25 06:54:53 |Display all floors
The US should stop bickering on telling the Asian how to govern a bank.
The Chinese move is perfectly timed as integration of economies cannot be relished if key financial co=operation and risks sharing are not co-agreed upon.

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Post time 2014-10-25 10:46:49 |Display all floors
AIIB needs to foster genuine work relationships and professionalism. China should not fear leading and be cowed by US into the back ground. As long as there is a balance in AIIB then things will work out. AIIB has the right members - all need development. So be patient and develop together. Benchmark against EU, CELAC and AU. Japan, South Korea and Australia are already developed nations and as such their status and aims will be different. Besides they are subservient to US and without a mind of their own, hence they won't do AIIB any good. Logistically they are out too. The only one that is really missed is Indonesia but since it wants to become an US puppet, there isn't much this group can do as Indonesia has the freedom to choose its future. Even before its inauguration, AIIB has already distinguished itself as a liberal grouping with freedom respected unlike and in sharp contrast to US who cries democracy but controls so tightly and rigidly Japan, Australia, South Korea and Indonesia, of course Philippines too.

China needs to demonstrate that it has the professionalism, liberalism and excellent team working skills. While China needs to be bold with leadership qualities, China needs to be cautious but not anxious of US manoeuvers. There is no need to compete with WB, IMF or ADB. But as China becomes professional, the other 20 must too and this means plenty of forums and meetings need to be held to foster that characteristics.

As China takes on more global roles, China needs to bolster the quality of its domestic education to churn out the professionals needed to shoulder these tasks. China cannot continually rely on sending students abroad and waiting for them to serve upon their return. China needs to carry out its own researches to develop its own education. Right now plenty of research are in English, which is why as China masters Chinese, it needs to be pro-efficient in English too. Translation from English to Chinese is not enough. After reading Western research, China needs to have its own mind to conduct its own research both in Chinese and English perhaps more extensively in Chinese. Only then can China harness its own talent. Of course the rule of law, excellent administrative and financial systems, good environment. good ecology and sociology are all important too.

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Post time 2014-10-25 11:38:40 |Display all floors
biztru Post time: 2014-10-25 10:46
AIIB needs to foster genuine work relationships and professionalism. China should not fear leading a ...

I like almost every post of yours which I happened to read.

CD is littered with sinophobia, drivel, name-calling, graffti with which I am fed up, and I am disappointed. Your revealing, insightful input is a sight for the sore eyes!

Please, create more threads of your own to share with us, instead of shadowing your excellent perspective under the threads of other people's, and it is hard for me to follow each message of yours on CD unlike Weibos.

Have a nice day!



There is one spectacle grander than the sea, that is the sky; there is one spectacle grander than the sky, that is the interior of the soul.-Victor Hugo

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Post time 2014-10-25 15:04:34 |Display all floors
<<A US State Department spokeswoman said, "Secretary Kerry has made clear directly to the Chinese as well as to other partners that we welcome the idea of an infrastructure bank for Asia, but we strongly urge that it meet international standards of governance and transparency.">>

Why is the US State Department urging AIIB to "meet international standards of governance and transparency" before they know the governance and transparency standards of the yet-to-be-established bank?

Are they thinking that Asians are not able to set as good and maybe even better standards than the existing international financial institutions dominated by the West?

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