Another patronizing western view on what is good for Asians

‘Asia must rebalance not build banks’, an article by a Jonathan Holslag, a professor of international politics sat the Vrije Universiteit Brussel, in the ST telling China/Asia not to build new banks to challenge the western dominated banks like IMF/World Banks and Asian Development Bank but to change them. Reading his other book titled, ‘China’s coming war with Asia’ you can tell where he is coming from. He would not know that he is speaking from the point of what is good for the West must be good for the Asians.

It is not right and not a good thing to build a new Asian bank like the AIIB. China is doing it for its self interests and at the disadvantage of other Asian countries for influence and creating more demands for Chinese goods. What he is saying is that the IMF and World Bank and the ADB were created not for the interests of the Americans/West and Japan but for altruistic goals, to give money to Asia and the world.  They are so selfless and generous. The AIIB is not like that?

Really, why is it necessary for China and other Asian countries to want another bank if the IMF, World Bank and ADB were out there to serve them and not western interests? Why is it necessary to work with these old western establishments to rebalance them and not to create new banks? Have not the Asian countries been trying to work with these establishments for change for the last 5 decades and not making any headway and forced to build their own banks?

This is the admission by Holslag, ‘The AIIB is a master stroke of economic diplomacy. The debate about its possible benefits distracts from the imbalanced economic partnerships to the  vague benefits of influencing it from inside and the bad habit of the United States and Japan to cling to their privileges in the World Bank, the IMF and the ADB.’ Despite this admission that the Americans and Japan would not yield an inch to accommodate the rise and interests of Asian countries, despite saying that they looked pathetic and China looking magnanimous with the AIIB initiative, he must sneaked in another blow that China is ‘seeking to advance its own selfish interests’.

And he wanted Asian countries to work harder to reform the IMF, World Bank and ADB? After 50 years of working from within, from a position of weakness, the Asian countries were totally ignored. And this is the exact reason why Asian countries have given up on trying to work with them and wanting their own banks, and with a bigger voice to serve their own interests, not the interests of the West and Japan. It is too late. Why didn’t the IMF, World Bank and ADB agree to reform and change to accommodate Asia earlier?

They are willing to change, to serve Asian countries and not their own interests? Please remove your tinted lens and look at yourself and how the American and the West in collusion with Japan have been exploiting these old establishments to serve their own interests first and foremost and Asian countries are there for show and to be exploited.

Now Asian countries have their own banks and their own voice. The loudest voice is Asian and Asians are calling the shot in their own banks to serve Asian interests. Is that not acceptable, bad? You want the IMF, World Bank and ADB to continue to exploit the Asian countries at your terms? If they don’t change, they would be history. And the change must come from them, voluntarily. The world has changed and Asian countries are rising and want a say in these organizations serving western interests.

Can the professor see this?