[Economy] AIIB #1 - China's Asian Infrastructure Investment Bank: Knows, Unknowns2015-04-01 09:05:03Hit:411
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Written in Mar. 31, 2015
From Bloomberg Business > News > World > China
[China’s Asian Infrastructure Investment Bank: Knowns, Unknowns]
The Americans and Japanese are holding out, China’s 18-month-old plan to start the first new multilateral development lender in decades has won support from governments around the world.
More than 40 countries have applied by Tuesday’s deadline to be founding members of the Asian Infrastructure Investment Bank. Now we await details on how the upstart institution will operate. If you connect to the following link, there will be what we know, and what we don’t, so far. Here are some highlights:
Knowns:
1) Who’s in, who’s out?
China, Australia, Egypt, Ukraine, the U.K., France, Switzerland, India, South Korea and the Philippines are among the more than 40 countries seeking to become founding members. The notable omissions -- the U.S. and Japan, which have flagged concerns over standards and governance. Japan’s finance minister said his country’s stance is “totally unchanged” and the U.S. says its position is to collaborate through existing international financial institutions.
2) How much will it have and where does the money come from?
The AIIB will have start up capital of $50 billion, and is authorized to eventually issue capital of twice that amount, coming from where members will contribute based on the size of their economies.
3) What’s the motto?
“Lean, clean and green”
Unknowns:
1) A Beijing-Baghdad Railway?
While the bank won’t officially start operations until the end of 2015, the Chinese press is already guessing which project it will fund first. The International Finance News, a publication run by the People’s Daily, has reported that the AIIB will finance a railway line connecting Beijing and Baghdad.
2) Beijing’s role and governance?
China’s role as the bank’s biggest shareholder has sparked questions about the influence it plans to yield over decision making
For more details, click the link below:
http://www.bloomberg.com/news/articles/2015-03-31/china-s-asian-infrastructure-investment-bank-knowns-unknowns
From Bloomberg Business > News > World > China
[China’s Asian Infrastructure Investment Bank: Knowns, Unknowns]
The Americans and Japanese are holding out, China’s 18-month-old plan to start the first new multilateral development lender in decades has won support from governments around the world.
More than 40 countries have applied by Tuesday’s deadline to be founding members of the Asian Infrastructure Investment Bank. Now we await details on how the upstart institution will operate. If you connect to the following link, there will be what we know, and what we don’t, so far. Here are some highlights:
Knowns:
1) Who’s in, who’s out?
China, Australia, Egypt, Ukraine, the U.K., France, Switzerland, India, South Korea and the Philippines are among the more than 40 countries seeking to become founding members. The notable omissions -- the U.S. and Japan, which have flagged concerns over standards and governance. Japan’s finance minister said his country’s stance is “totally unchanged” and the U.S. says its position is to collaborate through existing international financial institutions.
2) How much will it have and where does the money come from?
The AIIB will have start up capital of $50 billion, and is authorized to eventually issue capital of twice that amount, coming from where members will contribute based on the size of their economies.
3) What’s the motto?
“Lean, clean and green”
Unknowns:
1) A Beijing-Baghdad Railway?
While the bank won’t officially start operations until the end of 2015, the Chinese press is already guessing which project it will fund first. The International Finance News, a publication run by the People’s Daily, has reported that the AIIB will finance a railway line connecting Beijing and Baghdad.
2) Beijing’s role and governance?
China’s role as the bank’s biggest shareholder has sparked questions about the influence it plans to yield over decision making
For more details, click the link below:
http://www.bloomberg.com/news/articles/2015-03-31/china-s-asian-infrastructure-investment-bank-knowns-unknowns