Asian Infrastructure Investment Bank
The former U.S. treasury secretary says policies must focus on the average citizen, not those "who know a lot about the international system and how to game it."
The initiative could be the most significant coordinated development undertaking in history. But success is far from certain.
President-Elect Trump's threat to withdraw the U.S. from the Trans-Pacific Partnership (TPP) should be taken seriously, despite how mercurial he has already proven to be in failing to follow through on a variety of other campaign promises.
Courting Qatar would also enable China to pressure these countries to solve the security issues in the region. Undeniably
As in every year, 2015 in Asia was marked by natural and man-made tragedies, such as the devastating Nepal earthquake and the persecution of minorities like Myanmar's Rohingyas.
Western political and economic structures are, in some ways, specifically designed to resist deep and rapid change, if only to prevent temporary and reversible fluctuations from having an undue influence on underlying systems. This works well when politics and economies are operating in cyclical mode, as they usually have been in the West. But when major structural and secular challenges arise, as is the case today, the advanced countries' institutional architecture acts as a major obstacle to effective action.
BEIJING -- It is clear that China will be one of the major economic engines in the first half of 21st century with projected outward investments of 500 billion dollars and outbound tourists of over 500 million for the next five years. "Made in China," Chinese capital, China's market and Chinese consumers will be hallmarks in the new round of economic growth of the world.
NEW YORK -- Today, developing countries and emerging markets are saying to the U.S. and other rich nations: If you will not live up to your development aid promises, at least get out of the way and let us create an international architecture for a global economy that works for the poor, too.
The placement of these artworks is disconcerting and, for the most part, brilliant. Viewing the modern work next to ancient artifacts from China and from neighboring countries with which it has had a volatile history, instantly rewires our brains.
The PRC has become masterful at playing the international system against itself, whether on issues related to maritime law or development finance, as has been skillfully demonstrated with the creation of the Asian Infrastructure Investment Bank.
HONG KONG -- What the world needs is a West that is prepared to learn from the rest of the world as much as it seeks to teach it. It does not need a West at odds with the rest.
NEW YORK -- When he was chair of the U.S. Federal Reserve, Ben Bernanke mistakenly described the problem as a "global saving glut." But in a world with such huge infrastructure needs, the problem is not a surplus of savings or a deficiency of good investment opportunities. The problem is a financial system that has excelled at enabling market manipulation, speculation, and insider trading, but has failed at its core task: intermediating savings and investment on a global scale. That is why the AIIB could bring a small but badly needed boost to global aggregate demand.
BEIJING -- The Obama administration clearly understands the urgency for the U.S. to be more active in creating, shaping and reforming the international system and international mechanisms. But a strong domestic consensus in still not in place, and because of obstacles in its political system, America just cannot act in an efficient way.
U.S. Treasury Secretary Softens View on China-Led Infrastructure Bank, But Stresses 'High Standards' in Asia Society Address
U.S. Treasury Secretary Jack Lew offered a gentler approach to China's proposed Asian Infrastructure Investment Bank (AIIB) Tuesday, saying "the U.S. stands ready to welcome new additions to the international development architecture."
Fifteen to 20 years ago, a canny friend of mine assured me that I would know I was in a different world when the Europeans said no to Washington. I've been waiting all this time, and last week, it seemed as if the moment had finally arrived.
Chinese foreign policy displayed imagination, strategic vision and the political coherence to vastly enhance its regional dominance and global influence. While U.S. foreign policy displayed it has little to offer besides its vast military power.
Despite U.S. misgivings, Britain said earlier this month it would join the AIIB. France, Germany and Italy quickly followed