Will China's AIIB succeed?

If China can bring itself to stress governance as an essential requirement of development, the Asian Infrastructure Investment Bank might actually succeed.

One of the hot topics in the Ministries of Finance across Asia of late is what to make of China’s newly announced plans to create a new development institution to be named the Asian Infrastructure Investment Bank -- the AIIB for short. What makes this fledgling institution so interesting is the political support it is receiving within China. The announcement was made by no less than China’s leader Xi Jinping at the annual meeting of the Asia-Pacific Economic Co-operation (APEC) forum in Bali last year.

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