Many
are still quibbling and trying very hard to smear the AIIB with all the fear
mongering before it starts to operate. The critics are behaving worse than
being sour grapes. Fear this fear that, this bad that bad to frighten everyone
trying to join the grouping. How can something be bad when it has not done
anything or decided on how it is going to function and the rules that it will
play with? The same thing about China, everything is bad, but
did China commit any of the crimes
so fear and talked about? The real fear is that AIIB will undermine their
domination and control of the world and give the poorer country an alternative
source of fund to access for their needs. The fearmongers know that their power
over the rest of the world is weakening. That is the real threat.
What
has AIIB done so far? Nothing. All the fears are pure negative imaginations and
fabrications. But before the AIIB starts operating, it has already caused a lot
of positive and tangible benefits to Asian countries. The IMF, World Bank and
ADB cannot behave as they used to be, acting like warlords and bullying
countries to toe their lines or else. AIIB is now a credible competitor and
alternative for those countries needing financing to go to. Yes there is an
alternative and with competitive terms. No more arm twisting to yield to
demands.
The
most tangible result is that Japan is offering more financing to compete with
the AIIB. It is offering more financial assistance by topping up another
US$500b to the ADB and throwing more carrots to countries on a bilateral basis.
The IMF and World Bank too would have to act and be more generous to the
applicant countries for assistance. Trying to play hard ball is no longer
acceptable. The needy countries would say keep your money, we will go to AIIB.
The
third positive development is that Asian countries would be less dependent on
the American and Japanese controlled financial institutions for aid. It would
give them a lot more freedom to act without having to please these warlords.
There must be a greater sense of relief among Asian countries and they could
push the IMF, World Bank and ADB to offer better terms than AIIB if they want
to remain in the game. No more blackmail and ransom and to swallow bitter pills
like during the Asian financial crisis.
How’s
that for the achievements of the new kid on the block, and it has not even
started its business. When it starts to dole out its funds, and with promise of
more funds, the playing field will not be the same again. And there is also a
twin brother in the BRICS Bank to offer similar loans to challenge the
domination of the IMF and World Bank.
6 comments:
More aid organizations; more alternatives, maybe better solutions, maybe better for everyone. Nevertheless, nothing better than standing on your own 2 feet, work hard and don't depend on handouts, whether as individual, family or nation. Got "Backbone" is good.
And there is also a twin brother in the BRICS Bank to offer similar loans to challenge the domination of the IMF and World Bank.
RB
So which party to challenge the domination of the PAP, that's what Sinkies will be more interested in. And why would ordinary Sinkies want to care about AIIB, BRICS, IMF, World bank or what not international bank?
"When it starts to dole out its funds, and with promise of more funds, the playing field will not be the same again.
And there is also a twin brother in the BRICS Bank to offer similar loans to challenge the domination of the IMF and World Bank."
Let's hope Singaporeans also think the same way about voting for Opposition Parties.
Haha....
Sinkies dabbling in World and International Affairs while they
are mired in problems of their
very own survivals in their own
country.
It must be greek to you.
Know nothing about greek except
Beware of greek bearing gift.
Collected your SG50 Gift?
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