Innovations for Peace and Development
  • Home
  • About
    • About IPD
    • Meet the team >
      • IPD Leadership
      • Faculty Affiliates
      • Research Affiliates
      • Research Apprentices
      • IPD Alumni
    • What is geocoding?
    • Partners
    • Annual Reports
  • Research
    • Data4Development
    • Data4Peace >
      • Background
      • Projects and Publications
    • Civil-Military Relations
    • Governance and Development
    • Law4Development
    • Property Rights and Poverty
    • Previous Research Areas >
      • Global Indices Project
      • Agricultural Development
      • Training Modules for PAGL
      • Global Health, Nutrition, and Evaluations
      • Chinese Development Finance >
        • The CDF Project
        • CDF News Feed
        • Meet the Team
        • Blog and Digest Archives >
          • CDF Blog
          • CDF Trends Report
          • AIIB Maps
      • Open Aid >
        • Background
        • Publications & Working Papers
      • GIS & Analytics >
        • Background
        • Resources
      • Conflict & Development >
        • Background
        • Publications & Working Papers
      • Climate Change >
        • Background
        • Publications & Working Papers
      • Experiments >
        • Background
        • Publications & Working Papers
        • CPS Transparency Special Issue
      • Food Security >
        • Background
        • Publications & Working Papers
        • Resources
      • Health >
        • Background
        • Publications & Working Papers
  • Blog
  • Resources
  • Practicum

Weekly Digest: January 12-18, 2016

1/20/2016

0 Comments

 
Picture
U.S. Dollar Declared the Official Lending Currency of the AIIB.

With the AIIB officially open for operations comes the announcement that the new Chinese-led bank will use the U.S. dollar as its official currency of lending. This stems from the fact that the RMB would have been problematic for many nations due to the pervasive use of the USD, making loans in RMB quite undesirable at this point for many countries. Although the IMF recently added the RMB as a global reserve currency, it has yet to be determined if it will eventually become an official lending currency of the AIIB at a later time. 

​

AIIB Officially open for Business


Chinese President Xi Jinping on Saturday inaugurated the Asian Infrastructure Investment Bank at a ceremony attended by about 450 people in Beijing. President Xi Jinping noted that this is a historic moment for China and a boost in the country's effort to take more international responsibility by working to improve the investment environment and integration in Asia by means of the new 57-member lending institution. AIIB is perceived to symbolize China’s rise and challenge to the global financial system dominated by the U.S.

The U.S. and Japan are not members of AIIB but more than a dozen European countries decided to join the AIIB. Japan and the United States are skeptical about the quality of AIIB's lending standards and governance as well as whether infrastructure projects will be environmentally friendly. Taiwan is also perceived to be worried about China's growing influence in Asia. 

The creation of the AIIB in less than three years is considered widely welcomed by developing countries due to limitations in the lending capacities of existing multilateral institutions such as the World Bank and the Asian Development Bank. These institutions are not expected to meet the fast-growing demand for infrastructure investment.


Expert, Liu Baocheng, Offers Insight on Some of the AIIB's Initial Projects
Picture
​Dean of the Center for International Business Ethics at the Beijing based University of International Business and Economics, Liu Baocheng, responds to questions concerning the AIIB's initial projects and structure. Watch the full interview HERE.
Picture
0 Comments



Leave a Reply.

    Archives

    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    May 2017
    February 2017
    November 2016
    October 2016
    September 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015

    Authors

    Elizabeth Teare
    Siyu Luo
    Patrick Harned
    Amelia Hsieh
    Shuming Chen
    Ethan Masucol
    Felix Clevenger
    Thomas Sipp
    Varun Hukeri
    Devon Hsiao
    Yanrong Zeng​
    Simon Menet

    RSS Feed

Copyright 2019 - Innovations for Peace and Development
Questions? Email ipd@utexas.edu
Innovations for Peace and Development
BEL 2.14, The University of Texas at Austin
Austin, TX, 78712