A bank that will realize inclusive development
The proposed Asian Infrastructure Investment Bank is likely to boost regional development and, hence, speculation over its intention and competition is not necessary.
President Xi Jinping and Premier Li Keqiang both have proposed to establish the Asian Infrastructure Investment Bank to offer developing countries in the region financial support for their infrastructure projects. Although Beijing's initiative has been warmly welcomed by regional countries thirsty for funds for infrastructure development, it has evoked strong reactions from certain countries which allege that China is trying to reshape Asia's financial landscape.
Reviewing the rising process of Asian economies, we can see that all the emerging economies in region, including those that were once known as the "Four Asian Tigers" and the Chinese mainland, are heavily dependent on funds for high-speed growth.
