AIIB: Bridging the gap
- By Tian Dongdong
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E-mail Xinhua, April 1, 2015
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U.S. Treasury Secretary Jacob Lew, left, shakes hands with Chinese Premier Li Keqiang before a meeting at the Great Hall of the People in Beijing, China, on Monday, March 30, 2015. |
The Asia Infrastructure Investment Bank (AIIB) is designed to bridge a gap, so is Jacob Lew's China trip.
The United States is slightly yet encouragingly changing its mind over the AIIB, as the visiting U.S. treasury secretary told China on Monday that America is looking forward to cooperating with the bank through mechanisms accepted by the two countries.
Just one day before the March 31 deadline for the application of AIIB's founding membership, the United States, together with its staunch ally Japan, still show no sign of joining the bank.
By trying to forge an anti-AIIB front within its allies, Uncle Sam has, intentionally or involuntarily, turned the AIIB into a test of diplomatic strength.
Ironically, the front was broken by its own allies. The AIIB has gained wide support not only in Asia but also in Europe, which clearly told Washington that it had picked up a wrong fight.
In fact, the China-proposed bank is nothing short of a complement to the U.S.-dominated world lending system, including the International Monetary Fund and the Asia Development Bank(ADB), which have been proved incompetent in face of Asia's growing appetite for investment in infrastructure.
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