China’s Asian Infrastructure Investment Bank (AIIB) initiative is a means to achieve its goal of bolstering regional integration and connectivity through its “Belt and Road” strategy, Lu Chung-ta, director of investments and marketing at Shin Kong Investment Trust Co.
The establishment of the AIIB is widely regarded as an effort by China to create an international financial institution that rivals the World Bank, the International Monetary Fund, and the Asia Development Bank and curb the US’s leading position in global financial decision-making bodies in the post-World War II era.
The term “Belt and Road” refers to the Silk Road Economic Belt and 21st-Century Maritime Silk Road initiatives raised by Chinese president Xi Jinping during his state visit to Indonesia in 2013.
Lu contended that China’s AIIB and “Belt and Road” plans represent a more proactive stance by Beijing in participating in regional economic integration efforts and in creating new development and cooperation agendas such as the New Development Bank established by BRICS nations — Brazil, Russia, India, China and South Africa.
Moreover, the AIIB is another measure designed to match the US-led Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP) trade agreements, Lu said.
He said the AIIB will serve as the centerpiece for China’s charm offensive by funneling direct investments to its neighbors in Asia.
Full article: AIIB a means for China to achieve ‘Belt and Road’ (Want China Times)