China: Banking on a new international financial institution

China: Banking on a new international financial institution

By Yide Qiao Secretary-General Shanghai Development Research Foundation

In October 2014 China launched the Asian Infrastructure Investment Bank (AIIB), drawing wide international attention. Nearly 60 countries have joined the new international financial institution, including several OECD member and partner countries, though others have remained cautiously outside. What is the purpose of the new bank and what impact will it have? We asked Yide Qiao for his views.

I guess there are several reasons for launching the new bank. First, China has accumulated valuable experience and …

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