Chinese premier Li Keqiang and Russian prime minister Dmitry Medvedev shake hands at a Shanghai Cooperation Organisation meeting, which will help facilitate transparent economic cooperation between Asian countries.
China Daily Information Corp/Reuters
China will have to play by international rules on transparency and accountability if it wants to secure its place as a leader for economic development in Asia.
World Bank president Jim Kim was recently appointed for a second term, but there are questions about the transparency of this process.
Adnan Abidi/Reuters
The World Bank risks looking hypocritical and becoming redundant if it doesn’t improve its own management.
Major development banks are funding logging, mining and infrastructure projects that are having enormous impacts on nature. Here, forests are being razed along a newly constructed road in central Amazonia.
William Laurance
Big new investors such as the Asian Infrastructure Development Bank are key players in a worldwide infrastructure, and that could be bad news for the environment.
The US-led TPP and Obama’s ‘Asia pivot’ will face certain challenges against Xi Jinping’s ambitions of a new order established through the Chinese-led AIIB.
Bloomberg Pool/EPA
The US and China may have competing ambitions for the Asia-Pacific in the shape of the TPP and AIIB, but they may not be as incompatible as we have first believed.
Australian Treasurer Joe Hockey joined a large contingent of leaders at the AIIB signing ceremony this week.
Wang Zhao/EPA/AAP
Asia needs trillions of dollars in coming years to finance roads, sanitation plants and other key infrastructure. The IMF and World Bank can’t do it alone.
A clerk counts Chinese 100 yuan banknotes at a bank in Nantong, Jiangsu province.
REUTERS/China Daily
The creation of the Asian Infrastructure Investment Bank is a blow against US influence in global financial markets.
In the end, Tony Abbott – pictured with Xi Jinping and mining magnate Andrew Forrest – can’t ignore the economic consequences of snubbing China’s investment bank.
AAP/Alan Porritt
The US gravely miscalculated in trying to get China to accept the existing global order. Forced to make a choice, America’s closest allies are joining the Asia Infrastructure Investment Bank.