AIIB: No pain, only gain for the West

[webfact]

No pain, only gain for the West
Mike Bastin
China Daily

BEIJING: -- A few weeks ago, the official launch of the Asian Infrastructure Investment Bank took place in Beijing with 57 founding member states, including four members of the G8: the UK, France, Germany and Italy.

But despite overwhelming support and the widespread view that the AIIB is much-needed if significant growth is to take place across the entire Asia-Pacific region, this news has been met with a far from celebratory mood.

I suspect strongly that there are two main reasons for this: One, the United States-led, pernicious propaganda campaign against the AIIB's inception, and two, a lack of understanding of the AIIB and the role of China and its international emergence generally.

If we take the latter first, it is vital to place the China-initiated AIIB and China's economic emergence since 1979-80 in a wider context before jumping to any hasty and ill-informed judgments. Chinese history, which stretches back more than 5,000 years, and the international and interregional role played by the Chinese over this time, is the context in which recent developments should be placed.

Historians and many other people around the world all agree that Chinese history persistently paints a picture of the Chinese as characterised by peace, cooperation and protection.

It is abundantly clear, therefore, that the AIIB initiative and China's plans for major economic development for western China and the Asia-Pacific region have nothing to do with power and dominance, and everything to do with peaceful cooperation across the Asia region.

Full story: http://www.asianewsnet.net/news-77999.html


-- ANN 2015-07-13

[AYJAYDEE]

is that why theyre being so accommodating in the spratleys?

[squarethecircle]

"Chinese history, which stretches back more than 5,000 years"

^^^4000 years

"and the international and interregional role played by the Chinese over this time, is the context in which recent developments should be placed....It is abundantly clear, therefore, that the AIIB initiative and China's plans for major economic development for western China and the Asia-Pacific region have nothing to do with power and dominance, and everything to do with peaceful cooperation across the Asia region."

It is like they just copied and pasted CCP propaganda documents. Or maybe just hacked into the CCTV servers and c-and-p'ed it.

[GiantFan]

BoC doing a great job with the stock crisis.

[retarius]

Any bank that had John Bolton as President has no credibility at all. The yanks are worried about the status of the dollar in international trade and its reserve status. It is estimated that the reserve status saves it 0.5 points on interest on its extensive borrowings....this is a massive benefit. But other countries are entering bilateral arrangements to trade in local currencies instead of settling in USD, including oil. Ultimately this will kill off the special status of the dollar and the US will lose a significant trading advantage.

[wabothai]

Might just be a snake pit.

[connda]

BoC doing a great job with the stock crisis.

What goes up, must come down. Better to be first to bite the bullet. And anyway, the best thing for a Central Bank (BoC) to do in an economic reset is get out of the way and let it happen. Now, when the Western markets implode, China might be in a position to become the center of global finance: Bye bye London, hello Shanghai. It'll be interesting to see where the 'smart money' goes during the next decade. I think men like Jim Rogers and Marc Faber have that one figured out. Might be smart to just follow their lead. And anyway, the Chinese play the 'long-game'. This is just a hiccup.

[ABCer]

No pain, only gain.

No pain, no gain.

All pain, no gain.

All pain, all gain.

One of the above is a kind of 'people wisdom' saying.

All the rest - wishful thinking or plain gibberish.

I wonder how would it sound in Chinese...

[salween]

"It is abundantly clear, therefore, that the AIIB initiative and China's plans for major economic development for western China and the Asia-Pacific region have nothing to do with power and dominance, and everything to do with peaceful cooperation across the Asia region." Oh, ok then!

Meanwhile, for some reason the junta has yet to sort out the paperwork for Thailand's participation? Trust that's administrative incompetence rather than politics.