The Asia-Pacific economies share a keen consensus on the importance of interconnectivity for regional development, and their recently agreed-on interconnectivity blueprint points to astronomical financing needs.

China has a huge surplus, needs a broader market abroad and is itching to invest overseas.

By joining the AIIB, the four European friends of the United States would both contribute to and benefit from a more prosperous Asia-Pacific. Which is why the British government said it is "in the UK's national interest". According to British Chancellor George Osborne, joining the AIIB "will create an unrivalled opportunity for the UK and Asia to invest and grow together."

US obstructionism has been less than effective this time because it has failed to see that Washington and Beijing have no reason to stand against each other on a matter such as this.

Instead of rivaling or competing with the World Bank and the Asian Development Bank, the AIIB means an additional source of investment for countries in need. That is why Chancellor George Osborne put the AIIB's role as "complementary" to other funding institutions, and why heads of both the WB and ADB welcome the entry of the AIIB.

Washington has been urging Beijing to act like a "responsible" power. The AIIB is Beijing's latest answer to that call.

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