The Chinese government has published the Asian Infrastructure Investment Bank’s (AIIB) newly adopted articles of agreement. That’s an encouraging early sign of transparency, and more importantly, of timely transparency. Much of what’s in the articles was foreshadowed by previous comments and reporting, but there are surprises, such as stronger-than-expected veto powers for the Chinese and the possibility for non-sovereign membership.
CGD Policy Blogs
The US failure to approve governance reforms at the IMF is what led China to create the Asian Infrastructure Investment Bank. Ben Bernanke is the latest prominent voice to employ this narrative.