Bangladesh’s supreme legislative body, known as the Jatiyo Sangshad, recommended “incorporating necessary amendments” to the legislation for AIIB membership. Over the next ten years, Bangladesh will pay $162 million as capital subscription to the new bank.
AIIB to Play a Major Role in Indonesia's Development
The article reviews Indonesia's newest economic reforms, specifically, their adjustments to their FDI policies and opening more sectors to foreign investors. However, the article states that Indonesia has yet to make this policy uniform across all its sectors, thus inhibiting the full potential of these policy changes. Further, it argues that because of the "slow drip-feed" of changes, the policies will not have the "Big Bang" envisioned.
China's Global Vision
This is the official statement released by the Foreign Affairs Committee of China, ahead of the Munich Security Conference. It outlines China's vision of world order - one where its sovereignty is respected by the U.S. and other Western nations. It champions some changes to the world order, to accommodate changing interests (namely its own), and posits its Silk and Belt initiatives and the AIIB as its contributions to the international system. It reiterates its stance on cooperation with the US, seeking a peaceful mode of "win-win cooperation".
China's Role in Global Governance
This article covers the panel discussion at the Munich Security Conference on China's global role. China is playing an increasingly pivotal role in global governance: with its "Belt and Road" initiatives and AIIB. It is committed to the UN system and seeks not to interfere with internal affairs of other countries' (including the Democratic People's Republic of Korea) and supports of the diversity of opinions and political systems. Further, the roots of terrorism and the refugee crisis can only be addressed with economic development and improvement of living conditions.
From the lens of Singapore's Defense Minister, Dr. Ng Eng Hen.
China's rise, integration, and increased contribution to the world should be seen as one of the greatest achievements of the last century. Its economic prowess, trade partnerships, and newer contributions to the international public goods systems (through the One Belt, One Road initiative and the AIIB) should be lauded. The article also outlined Dr. Ng's remaining schedule at the Munich Security Conference - including his appearance at the 8th Munich Young Leaders Round Table on Security Policy and bilateral meetings with his European, Asian, and Middle Eastern counterparts.
Disappointment in Beijing over AIIBs Chosen Vice President
Danny Alexander was appointed to the position of vice president of AIIB. He was formerly the chief secretary to the Treasury and represented the Liberal Democratic Party in the British Parliament. Alexander will be Britain's primary representative within China's new investment bank. Some Chinese officials vocalized disappointment that a former politician rather than an economist was chosen for the position.
AIIB may Support S. Korean Overseas Infrastructure Development
After thirteen months of decline in South Korean exports, the Korea Trade Insurance Corporation (K-sure) plans to extend its support of small and medium enterprises at home and abroad. Ideally, this support will bolster these companies' presence in emerging markets. K- sure aims to increase its investment insurance of Korea companies overseas and the AIIB could be a financial resource to support this infrastructure development abroad.
Georgia will be the Hub of China's Maritime Silk Road
A US$2.5 billion sea port will be constructed in Anaklia, Georgia and will serve as a hot spot for China's maritime silk road. This port has the potential to boost Georgia's GDP by half a percent and will be capable of processing 100 million tons of cargo annually. Upon completion, it will become the primary port for imports for the people in the landlocked Caucasus and Central Asian countries.
That's a wrap for the AIIB this week. Check back with our blog next week for another weekly update.
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