DonÕt Pre-Judge China-Led AIIB: World Bank MD

by swisscham in Business

The impending creation of the Chinese-led Asian Infrastructure Investment Bank (AIIB) has been applauded by World Bank managing director Betrand BadrŽ, despite United States objections to the new development financing vehicle. Switzerland is one of 56 countries to have expressed an interest in joining China as an AIIB founding member. Dubbed the ÔChinese World BankÕ by the media, the AIIB aims to get off the ground by the end of the year once it has established a set of operating ground rules. The US and Japan have so far snubbed the Beijing-based institution, doubting ChinaÕs ability to apply proper corporate governance. But the stand-off has been widely interpreted as a wider struggle for political influence in Asia.

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