AIIB banks on real growth, not rivalry
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E-mail China Daily, March 18, 2015
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EU parliament president Martin Schulz is seen behind an European Union flag as he speaks at a news conference in Beijing, March 17, 2015. Schulz said he welcomed the four European nations joining the Asian Infrastructure Investment Bank (AIIB), but added the bank must conform to internationally accepted standards. [Photo/Agencies] |
That Britain has chosen to join the Asian Infrastructure Investment Bank is a "surprise decision".
That France, Germany and Italy have reportedly sought to follow suit and also sign up to the AIIB as founding members is "a further blow" to the United States.
Such is the way an otherwise purely economic topic is being framed in the light of China-US rivalry. The AIIB itself is portrayed as a China-led challenge to the US' economic and political dominance.
Such misrepresentation is harmful, to both the existing and potential members and beneficiaries of the AIIB, to international development cooperation, and to the prospect of a more reasonable and harmonious world order.
That the AIIB was proposed by and is headquartered in China does not mean it is Chinese, or an instrument of Chinese soft power.
The Chinese initiative has received an enthusiastic response from countries near and far, because the new, international financial institution is an obvious all-win formula.
The initial memorandum on establishing the AIIB was negotiated and signed by 21 countries. The AIIB governance structure, from its charter to rules and procedures for admitting new members, is the outcome of collective decision-making.
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