Among South Asian economies, Bangladesh is touted as a rising star. But is the praise entirely justified? Can Bangladesh now serve as a model for other countries, perhaps offering an alternative to the longstanding East Asian export-led growth paradigm? The jury is still out however, and the evidence raises doubt that the East Asian icons face serious competition from Bangladesh—at least not yet.
CGD Policy Blogs
COVID-19 has highlighted the ways that global public goods play an increasingly important role in the world, in both negative and positive ways. It’s increasingly clear that many of the biggest challenges nations face—and the solutions—won’t be restricted to one nation’s borders. The need for regional or global cooperation has never been greater.
The Chinese-financed effort to build a national railway through Laos is a quintessential project of the Belt and Road Initiative.
In a new CGD paper, we assess the likelihood of debt problems in the 68 countries we identify as potential BRI borrowers. The big takeaway: BRI is unlikely to cause a systemic debt problem, yet the initiative will likely run into instances of debt problems among select participating countries—requiring better standards and improved debt practices from China.
In advance of adopting a new Policy on Public Information, the AIIB is inviting suggestions on how it could best align public disclosure with its guiding principles of “promoting transparency, enhancing accountability and protecting confidentiality.” The adoption of the new policy provides AIIB President Jin Liqun and the AIIB shareholders an opportunity to demonstrate that this newest of multilateral development banks (MDBs) is serious about its commitment to adopting international best practices. I identified a number of actions that the AIIB could take to improve its disclosure practices. Here are my top three recommendations:
As the World Bank makes a case to its shareholders for a capital increase this year, they are grappling with an uncomfortable truth: one of their biggest borrowers, China, happens to hold the world’s largest foreign exchange reserves, is one of the largest recipients of foreign direct investment, enjoys some of the best borrowing terms of any sovereign borrower, and is itself the world’s largest sovereign lender.
Here at CGD, we’re always working on new ideas to stay on top of the rapidly changing global development landscape. Whether it’s examining new technologies with the potential to alleviate poverty, presenting innovative ways to finance global health, assessing changing leadership at international institutions, or working to maximize results in resource-constrained environments, CGD’s experts are at the forefront of practical policy solutions to reduce global poverty and inequality. Get an in-depth look below at their thoughts on the 2018 global development landscape.
Last week the Asian Infrastructure Investment Bank’s (AIIB) board of directors approved financing for three projects, including, for the first time, a project in China. Looking back at AIIB operations to date, these are my three takeaways.
During the recent IMF and World Bank meetings, all eyes were on China. As the US administration contemplates scaling back its global economic engagement, China is doing the exact opposite. But there is increasing attention being paid to risks associated with Chinese financing on two fronts.
One form of soft power is concrete enough. That is, it’s literally concrete. And by a measure of bricks and mortar, it’s clear that the United States is rapidly losing the soft power game to China. In fact, the contrast between the two countries on display this week in Washington is startling.