AIIB (Asian Infrastructure Investment Bank) news

[cnleio]

NOTHING will happen. I said 8 months ago that BRICS bank will become a joke. I'm saying now that this will also be a joke- like the ADB. China thinks that it's just a matter of putting up the cash, it's not. China is incapable of the sophisticated politics that is needed to bring up such institutions like the IMF or World Bank. It sets out with the crude objective of creating rubber stamp institutions and these turn out to be just that- joke ruber stamp institutions.

India joined this joke too, a formal member nation of AIIB ... as far as i knew.

 

[Yizhi]

MOSCOW (Sputnik) — Luxembourg’s Finance Ministry confirmed Tuesday the country's bid to become a member of the Asian Infrastructure Investment Bank.
"I can confirm that Luxembourg has submitted its candidacy to become a prospective founding member of the AIIB,” ministry's spokesman said in phone call with Sputnik news agency.

Luxembourg Seeks Membership in Asian Infrastructure Investment Bank / Sputnik International

Luxembourg is in.

 

[cirr]

MOSCOW (Sputnik) — Luxembourg’s Finance Ministry confirmed Tuesday the country's bid to become a member of the Asian Infrastructure Investment Bank.
"I can confirm that Luxembourg has submitted its candidacy to become a prospective founding member of the AIIB,” ministry's spokesman said in phone call with Sputnik news agency.

Luxembourg Seeks Membership in Asian Infrastructure Investment Bank / Sputnik International

Luxembourg is in.

Luxembourg is a nation of bankers。So it is only natural that the country has come onboard。

 

[Edison Chen]

Luxembourg Submits Application to Join AIIB: Official

Luxembourg's Finance Minister says the country has submitted an application in a bid to become a prospective founding member of the China-led Asian Infrastructure Investment Bank.

The minister says that as more and more Asian banks have settled in Luxembourg, his country expects to further play a significant financial role between Asia and Europe.

Meanwhile, Taiwan is willing to join the bank if invited, according to Taiwan's finance chief Chang Sheng-for.

Chang adds that Taiwan's participation would open up a good channel for Taiwan investment.

Britain became the first European country to join the Asian Infrastructure Investment Bank last week.

France, Italy and Germany have since announced they're applying to join the bank as founding members.

Applications to join the Asian Infrastructure Investment Bank remain open until the end of this month.

So far, around 30 countries have applied to be founding members.

The 50-billion US dollar initiative is expected to be formally established by the end of the year.

Luxembourg Submits Application to Join AIIB: Official

 

[AndrewJin]

Luxembourg is a nation of bankers。So it is only natural that the country has come onboard。

Bank, steel and....stamps

 

[TaiShang]

AIIB embodies new major power relations
Published: 2015-3-19 0:23:01

US Secretary of the Treasury Jacob Lew on Tuesday urged Congress to approve an agreement to reform the IMF. The agreement, which was reached in 2010, has been passed by many countries since then except the US, as the reform plans are believed to step on the interests of some US groups.

Lew's warning is obviously driven by the application of some European countries to join the China-led Asian Infrastructure Investment Bank (AIIB). If US lawmakers can change their way of thinking because of the competition from China, both the US and the world will benefit.

The US advantages mostly lie in its military strength and discourse power. Besides its huge nuclear arsenals, its conventional warfare systems also have strategic deterrence at the global level. As for its discourse power, the US media has the ability to infiltrate its values and concepts into the world. These media outlets are a means to maintain the influence of US values. It is hard to make political arguments with the US.

Therefore, American society has long considered itself as the global leader. The country has become unaccustomed to any challenges in key sectors.

However, the US cannot prevent diversity and innovation emerging from other parts of the world. Trying to get free from US dominance or exceed the US does not mean a confrontational scenario.

The US has to accept some competition that it feels uneasy about. Washington will see this as a challenge, but it has the ability to bear it. Although the US resists the AIIB, no sharp conflicts have occurred between China and the US. Washington seems to have a more benign tolerance toward economic competition than toward a military race.

That the AIIB breaks US containment provides an important lesson. The US cannot resist everything it dislikes but which is welcomed by most other countries. This will not challenge US military strength, and the US media cannot badmouth it too much.

It is unrealistic to wish for no rivalry between China and the US. But the rivalry can be positive and interesting. A new type of major power relations will sooner or later face a rising China, which is the foundation for both countries to adopt innovative ways to handle their competition.

China may have to wisely leverage between the two advantages of the US. China is developing its own military might, but does not aim at racing with the US. It is also engaged in developing its soft power by convincing the world with its successful experiences.

The evolution of the AIIB has landmark significance. It brings a new momentum to China's opening-up. It also creates room for understanding China-US competition. Finally, the AIIB points to a bigger picture of what China's "One Belt and One Road" initiative entails.

 

[Reashot Xigwin]

Jakarta will compete with Beijing to host AIIB

(Reuters) - Indonesia's finance minister said on Monday the country will seek to host the headquarters for the Asian Infrastructure Investment Bank (AIIB), a new multi-lateral lender that is led by China with Beijing wanting the role for itself.

"It is our aspiration to have headquarters in Jakarta, but of course we will have to compete with Beijing on that," Bambang Brodjonegoro, speaking on the sidelines of the Credit Suisse Asian Investment Conference in Hong Kong.

A number of countries have said they would participate in the new bank slated to start operations by the end of the year.

(Reporting By Saikat Chatterjee; Writing by Anne Marie Roantree; Editing by Simon Cameron-Moore)

Indonesia will compete with Beijing on HQ for AIIB -Fin Min| Reuters

 

[ChineseTiger1986]

Pretty much an impossible mission.

 

[Reashot Xigwin]

Pretty much an impossible mission.

Its also pretty much doesn't change anything. Beijing will still control the Bank regardless if it will be build in Antarctica.

 

[Genesis]

Its also pretty much doesn't change anything. Beijing will still control the Bank regardless if it will be build in Antarctica.

that's the misconception I see in people, China won't be looking to CONTROL, the bank, certainly we will milk it for all it's worth, since we are putting our money were our mouth is and writing checks our *** will cash.

However, this bank is the prelude to the world bank, our world bank.

So, don't look for us to advance our interest too much, and we certainly would play by the rules, while making some of our own.

American concerns are unfounded, at least the concerns they publicly voiced.


Right now it looks like it could happen, very unlikely to be in Indonesia, but maybe we will change our mind and put a friendly nation or a neutral or an accountable nation, like Australia on the throne, and get relations up with ASEAN, or Indo and friends, by putting it in Indonesia.

We never know.

 

[Bussard Ramjet]

Pretty much an impossible mission.

Actually, it will be great for Chinese soft power push. Indonesia will feel included in the new institutions that China is creating. Also, being based there will keep down whispers of utter Chinese dominance in the bank.

I think it should be seriously considered.

 

[Jlaw]

It's quite simple but why is it so hard for people to understand? If I'm the guy responsible for starting a company and I put the most capital upfront, I will be the CEO and have the HQ where I want.

Unless Indonesia put up more money than China, this isn't going change.

 

[Bussard Ramjet]

It's quite simple but why is it so hard for people to understand? If I'm the guy responsible for starting a company and I put the most capital upfront, I will be the CEO and have the HQ where I want.

Unless Indonesia put up more money than China, this isn't going change.

No, if you are the majority shareholder you are ENTITLED to put it wherever you want. But would you necessarily want to do that?

Also, the Japanese-funded Asian Development Bank is actually located in Manila. Not that I'm suggesting you do that. But due consideration should be given to the idea.

 

[powastick]

No, if you are the majority shareholder you are ENTITLED to put it wherever you want. But would you necessarily want to do that?

Also, the Japanese-funded Asian Development Bank is actually located in Manila. Not that I'm suggesting you do that. But due consideration should be given to the idea.

I think you never been to Jakarta.

 

[Huaren]

those who pay(most) get to make the decision, one of the main reasons for setting up the institution is because in existing world bank/development bank even if newly rising developing nations are increasingly capable of rising the shares, unjustified decisions will still be made for them and their money, which is why nations like China are being put at disadvantage. AIIB is a meaning to break the circle of stagnation, and decision will be shared according to contribution.