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?