亚投行 英语新闻
江知秋
41304288
金融学
周五1,2节
Headline:
● UK support for China-backed Asia bank prompts US concern Source: BBC, 13 March 2015
● Why does the UK want to join the China-led development bank? Source: BBC, 13 March 2015
The Asian Infrastructure Investment Bank (AIIB), which was created in last October by 21 countries, led by China, will fund Asian energy, transport and infrastructure projects. The UK is the first big Western economy to apply for membership of the AIIB in March, 2015. And just after the UK ’s move, the US expressed concern over the UK's bid to become a founding member of a Chinese-backed development bank.
On the one hand, let ’s have a objective analysis on why the UK choose to join the AIIB which led by China and viewed as a rival to the World Bank. Firstly, investment in AIIB will give British companies an opportunity to invest in the world's fastest growing markets. Secondly, there are plenty of infrastructure projects in Asia that needed funding so that the UK can gain certain profit as one of the shareholders. Last but not least, it is the China-US tensions behind the AIIB that really matters.
The US owns a great deal of say in the matter of both IMF and the World Bank in some degrees. The US’s hegemony calls another strong economy to weaken it and then China comes. With the growing economic strength, China has now became the world's second largest economy. Just as Linda Yueh, Chief business correspondent says, It may be a pragmatic move, but it's hard not to offend one side or another and this trick will be to come away with economic advantage at minimal political cost.
On the other hand, why the United States is committed to stop these countries such as Australia, South Korea and Japan to join the Asian infrastructure investment banks? The US’s reason given to public is that they concerns about whether the AIIB will meet these high standards, particularly related to governance, and environmental and social safeguards. But in my opinion, the US sees the Chinese effort of founding AIIB as a ploy to dilute US control of the banking system, this is the virtual reason.
As far as I am concerned, with the sustainable development of china ’s economy and promotion of economic globalization, RMB is expected to be another vehicle currency in the near future.