China says would welcome US role in infrastructure bank

[YoucanYouup]

China says would welcome US role in infrastructure bank - Yahoo News

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AFP 10 hours ago
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Chinese deputy finance minister Shi Yaobin has told the German press his country would welcome a US role in a Beijing-backed multinational lender, hours after state media described Washington as "petulant and cynical".

"We would welcome the United States into the Asian Infrastructure Investment Bank (AIIB)," Shi told Handelsblatt daily in an interview set for publication Thursday.

The United States perceives the AIIB, a $50 billion institution, as a threat to the Washington-led World Bank.

"The new bank will mainly play a supporting role for other international institutions," Shi said, according to an extract published Wednesday.

"For the AIIB, we want to learn about how these institutions work, and if possible, we'll be able to copy their good example," the official said.

"That goes for environmental standards, governance rules and some good purchasing practices," he added.

The remarks come after France, Germany and Italy announced their decision on Tuesday to become founding members in the AIIB.

Earlier Wednesday, Chinese state media gloated over the major European powers' decision to join the bank, while describing the US as "petulant and cynical".

Paris, Rome and Berlin's decision came after London last week announced its own ambitions to join, drawing a rare rebuke from Washington.

China touts the institution as a tool for financing regional development alongside other lenders such as the World Bank and the Japan-led, Manila-based Asian Development Bank.
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Yes,AIIB taste very sour, like sour grapes

 

[AndrewJin]

let's see how they react, basically some cliché, like high standards of governance, or environmental and social safeguards

BEIJING, March 18 (Xinhua)
Welcome Germany! Welcome France! Welcome Italy!

Despite a petulant and cynical Washington, the three leading European powers decided to join the Asian Infrastructure Investment Bank (AIIB) headquartered in Beijing on Tuesday.

The brave yet rational move has laid bare the attractiveness and influence of the AIIB, given the difficulty for those leading EU members to reach a consensus over issues related to China inside their union, where they often kick the can down the road.

It also sends clear signals to the whole world, and particularly to the United States, who is trying to forge an anti-AIIB front within its allies.

Firstly, in an international community bound together by interdependence, win-win cooperation, rather than self-concerned fulfillment, is the order of the day.

The AIIB is by no means a zero-sum game. It serves no one's appetite for hegemony or dominance. Rather, it is a reciprocal, efficient and inclusive platform where member states could seek mutually beneficial cooperation.

Secondly, the AIIB is a helpful and somewhat indispensable complement for the existing international and regional lending bodies controlled by the U.S., such as the International Monetary Found (IMF) and the Asian Development Bank (ADB), for the sake of their inadequate efficiency and capacity.

Frankly speaking, the IMF and ADB alike can not neatly meet the enormous yet still growing need of infrastructure investment in Asia. Against that backdrop, the founding of the AIIB could help them to cope with the growing need in a better way and inject direly needed competition into the Washington-monopolized lending system.

By joining the AIIB, Germany, France and Italy have actually booked their shares in Asia's booming investment.

Thirdly, holding sour grapes over the AIIB makes America look isolated and hypocritical.

The joining of Germany, France, Italy as well as Britain, the AIIB's maiden G7 member and a seasoned U.S. ally, has opened a decisive crack in the anti-AIIB front forged by America.

As more and more Western countries mull over joining the China-led lending body, the U.S. will feel lonelier if it continues to be a holdout.

Moreover, accusing the AIIB of lacking transparency while holding out from it doesn't strengthen the moral high ground of Washington, as the best way to cure the "self-claimed flaw" is working inside the new Asian financial body, instead of just carping from outside.

It makes Washington more hypocritical when it comes to the "China free rider" allegation initiated by U.S. President Barack Obama in an interview with the New York Times last August, during which Obama blamed China for not taking more international obligations.

However, when China moves in that direction, as it is doing with the AIIB, the America seeks to boycott it.

For all that, the AIIB has clearly demonstrated China's will to share its development opportunities with the whole world.

Unlike the U.S.-led TPP negotiation which excludes China, the AIIB is open to all interested parties, including the United States.

So Washington, what are you waiting for?

 

[Tractor]

Is this bank somthing China to boast?

 

[AndrewJin]

Is this bank somthing China to boast?

are you living in history books?

 

[cnleio]

China says would welcome US role in infrastructure bank - Yahoo News

.
AFP 10 hours ago
More Fun In Nature & Adventures
TPB Philippines Sponsor

Chinese deputy finance minister Shi Yaobin has told the German press his country would welcome a US role in a Beijing-backed multinational lender, hours after state media described Washington as "petulant and cynical".

"We would welcome the United States into the Asian Infrastructure Investment Bank (AIIB)," Shi told Handelsblatt daily in an interview set for publication Thursday.

The United States perceives the AIIB, a $50 billion institution, as a threat to the Washington-led World Bank.

"The new bank will mainly play a supporting role for other international institutions," Shi said, according to an extract published Wednesday.

"For the AIIB, we want to learn about how these institutions work, and if possible, we'll be able to copy their good example," the official said.

"That goes for environmental standards, governance rules and some good purchasing practices," he added.

The remarks come after France, Germany and Italy announced their decision on Tuesday to become founding members in the AIIB.

Earlier Wednesday, Chinese state media gloated over the major European powers' decision to join the bank, while describing the US as "petulant and cynical".

Paris, Rome and Berlin's decision came after London last week announced its own ambitions to join, drawing a rare rebuke from Washington.

China touts the institution as a tool for financing regional development alongside other lenders such as the World Bank and the Japan-led, Manila-based Asian Development Bank.
——————————————————

Yes,AIIB taste very sour, like sour grapes

LOL ... that's a troll to U.S.

 

[Tractor]

are you living in history books?

I am reading a history book.Though we all live in reality we should learn from history and have dreams as well.Empty words though.

 

[AndrewJin]

I am reading a history book.Though we all live in reality we should learn from history and have dreams as well.Empty words though.

Can't you see the biggest lesson from history is that we don't learn from history?
If everyone is skeptical because of cowardice, then China is on the verge of a real collapse, as those Mr. Gordon Changs have projected.

 

[YoucanYouup]

Can't you see the biggest lesson from history is that we don't learn from history?
If everyone is skeptical because of cowardice, then China is on the verge of a real collapse, as those Mr. Gordon Changs have projected.

Comrade Gordon Chang, the director of SFA（战忽局） North-America suboffice , accomplish his glorious mission successful,obvious.

 

[AndrewJin]

Comrade Gordon Chang, the director of SFA（战忽局） North-America suboffice , accomplish his glorious mission successful,obvious.

Rumours said that he and some other glorious talkers are actually funded by CPC....Or actually, they successfully fulfil CPC's goal by accident, to make Americans to believe their talks.

 

[Jlaw]

So what is the purpose of asking US to join? They already have IMF. US will not play second fiddle to China or give US majority of voting power.

Or if China get enough countries to join, why not just call it the World Bank (IMF)