Britain on Thursday announced the hope to become the first major Western country to join the Beijing-headquartered AIIB.
The bank was launched in Beijing in 2014 to boost investment in such sectors as transportation, energy and telecommunication.
Britain's announcement, however, received a frosty reception from Washington, which raised concerns about whether the AIIB would have sufficiently high standards on governance, and environmental and social safeguards.
The response of the US government exhibited nothing but a childish paranoia towards China, which, however, is not quite surprising, as Washington has indulged itself in that distrusting mind-set for years.
Some US politicians tend to see every move China has made with deep suspicion. Sometimes they just could not restrain the urge to make carping and irresponsible comments when it comes to issues related with the rapidly emerging Asian country.
They tend to turn a habitual blind eye to the constructive efforts made by China, and there is no exception when it comes to the country's initiative on building the Silk Road Economic Zone and the 21st Century Maritime Silk Road brought up in 2013 as well as the Silk Road Fund designed for financing the initiative.
It seems that the US government needs to be reminded that bias and a deep-rooted strategic distrust towards China are by no means helpful in forging a healthy relationship with the country.
And such deep suspicion, or paranoia, could only prevent the two countries from narrowing down their differences and expanding cooperation in various fields, and eventually jeopardize efforts in building a new type of major-country relations.
It's imperative for Washington to change its mind-set and get rid of the China paranoia.
After all, what the two countries really need is a new model of mutually beneficial relationship featured by cooperation and win-win results, which could bring tangible benefits to the peoples of both nations.
And that could only be achieved through hard works, joint efforts and, more importantly, mutual trust.
Xinhua
globaltimes.cn
13/3/15
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New Asian bank will learn from other multilateral institutions: China ...
ReplyDeleteThe China-proposed Asian Infrastructure Investment Bank (AIIB) will draw experiences from other multilateral development banks and avoid their detours, China said on Friday.
The comment was in response to US concerns that the new institution should incorporate the high standards of the World Bank, expressed after the UK announcement on Thursday that it would join the bank as a founding member, which will be confirmed by the end of March.
China has confirmed and welcomed the UK's decision and is seeking the opinions of other founding countries, China's finance ministry said.
"The AIIB will complement existing multilateral development banks and support the infrastructure and economic development in Asia. Britain's move will further promote the common development of Asian countries," foreign ministry spokesman Hong Lei said at a daily news briefing. He said AIIB's operation and governance will be open, transparent, inclusive and responsible. "It will draw experiences from other multilateral development banks and avoid their detours so as to be more cost-effective and efficient."..............http://www.globaltimes.cn/content/911954.shtml
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UK support for China-backed Asia bank prompts US concern...
ReplyDeleteThe US has expressed concern over the UK's bid to become a founding member of a Chinese-backed development bank.
The UK is the first big Western economy to apply for membership of the Asian Infrastructure Investment Bank (AIIB).
The US has raised questions over the bank's commitment to international standards on governance.
"There will be times when we take a different approach," a spokesperson for Prime Minister David Cameron said about the rare rebuke from the US.
The AIIB, which was created in October by 21 countries, led by China, will fund Asian energy, transport and infrastructure projects.
The UK insisted it would demand the bank adhere to strict banking and oversight procedures.
"We think that it's in the UK's national interest," said Mr Cameron's spokesperson.
'Not normal'
Pippa Malmgren, a former economic advisor to US President George W Bush, told the BBC that the public chastisement from the US indicates the move might have come as a surprise.
"It's not normal for the United States to be publically scolding the British," she said, adding that the US's focus on domestic affairs at the moment could have led to the oversight.......................http://www.bbc.com/news/world-australia-31864877
13/3/15
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The decision of the three European countries, which was revealed by British newspaper The Financial Times and yet to be officially announced, came in the wake of Britain's application last week to be a founding member of the 50-billion-U.S.-dollar bank.
Meanwhile, Australian leaders have been lining up in the past few days to voice support for joining the AIIB, which marks a conspicuous U-turn from the cabinet's previous stance.
"Our position all along has been that we are happy to be part of some thing which is a genuine multilateral institution such as the World Bank, such as the Asia Development Bank," Prime Minister Tony Abbott said during an interview with Sky News over the weekend.............http://www.china.org.cn/world/2015-03/17/content_35076285.htm
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Major US allies to join China-backed bank: reports...
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France, Germany and Italy have agreed to follow Britain's lead and join the Asian Infrastructure Investment Bank (AIIB), a major setback for Washington, the Financial Times reported.
In China, the state-owned Xinhua news agency said South Korea, Switzerland and Luxembourg were also considering joining.
The Financial Times, quoting European officials, said the decision by the four countries to become members of the AIIB was a blow for Washington, which has questioned if the new bank will have high standards of governance and environmental and social safeguards.
The bank is also seen as contributing to the spread of China's "soft power" in the region, possibly at the expense of the United States.
On Tuesday, Washington's top diplomat for east Asia signaled that the concerns about the AIIB remained, but the decision on whether to join was up to individual nations.
"Our messaging to the Chinese consistently has been to welcome investment in infrastructure but to seek unmistakable evidence that this bank...takes as its starting point the high watermark of what other multilateral development banks have done in terms of governance," U.S. Assistant Secretary of State for East Asian and Pacific Affairs Daniel Russel said in Seoul..................http://www.channelnewsasia.com/news/business/international/major-us-allies-to-join-c/1720248.html
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Australia changes mind on China-proposed Asian infrastructure bank ...
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The latest wave of support came after the United Kingdom announced to join the discussion with China on the 50-billion-US dollar development bank.
Treasurer Joe Hockey was the first to say last Friday that Australia will consider joining the AIIB.
"This is something that will obviously be taken into account by the government over the next few weeks as we continue our dialogue with those people behind the bank," Hockey said.
"Quite obviously China has improved the governance structure it is proposing for the Asian Infrastructure Investment Bank," he added.................http://www.globaltimes.cn/content/912385.shtml
17/3/15
FT: France, Germany and Italy to Join China-backed Bank ...
ReplyDeleteFrance, Germany and Italy have agreed to follow Britain's lead and join a China-led international development bank, dealing another blow to U.S. efforts to keep Western nations out of the new institution, the Financial Times said on Tuesday.
The newspaper, quoting European officials, said the decision by the four countries to become members of the Asian Infrastructure Investment Bank (AIIB) was a major setback for Washington, which has questioned if the new bank will have high standards of governance and environmental and social safeguards.
The AIIB was launched in Beijing last year to spur investment in Asia in transportation, energy, telecommunications and other infrastructure. It was seen as a rival to the Western-dominated World Bank and the Asian Development Bank....................http://www.voanews.com/content/reu-ft-france-germany-italy-to-join-china-backed-bank/2683215.html
17/3/15
Italy confirms intention to become founding member of AIIB ...
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http://www.china.org.cn/world/2015-03/17/content_35082059.htm
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