UK bid for AIIB membership shows value of China's initiative

ON THURSDAY, THE MINISTRY OF FINANCE announced that it received confirmation from the United Kingdom that it was applying to join the Asian Infrastructure Investment Bank as a founding member. If admitted, UK would be the first member of the G7 to join the AIIB. Comments:

The United States has its own design for the world's financial order: it dominates the World Bank while Japan leads the Asia Development Bank; that's why it considers AIIB a China version of neo-Monroeism and is opposed to the UK joining it. This is wrong because the AIIB's shareholdings are distributed according to members' GDP, and China has shown its open attitude in building the AIIB by welcoming UK's participation, which will diminish its equity in it.

Beijing News, March 14