Happening in China - April 2016

 •  Filed under China

The Economy

AIIB

  • China’s AIIB seeks to pave new Silk Road with first projects - FT.com
  • U.S. Treasury official - China's AIIB can be 'constructive addition' | Reuters
  • AIIB programs offer fresh chance for Sino-US cooperation efforts - Global Times
  • Lunch with the FT: Jin Liqun — FT.com: "His point about how hard he and Beijing have worked to convince so many countries to join the AIIB is a good one, suggesting that China is seeking to insert itself into a peaceful and co-operative global order rather than overturn existing power structures. ... But Jin’s ambitions for the bank go far beyond replicating the existing multilateral development institutions like the ADB and the World Bank. He believes these have strayed from their original mandate by focusing far too much on poverty alleviation while ignoring the lessons from developing countries like China. “The Chinese experience illustrates that infrastructure investment paves the way for broad-based economic social development, and poverty alleviation comes as a natural consequence of that,” he says. “We want to create something new that combines the strong features of private companies with those of multilateral development banks.” Jin has also coined a slogan to describe the way the new bank operates — he says it will be “lean, clean and green”. That means a bank with a small professional staff and non-resident board of governors (lean) that is not corrupt (clean) and cares about the environment (green)."

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