Thursday, March 19, 2015

THE ASIAN INFRASTRUCTURE BANK(AIIB) IS NOT COMPETING WITH WORLD BANK. IT IS ALL ABOUT THE NEW SILK ROAD INITIATIVE

THE ASIAN INFRASTRUCTURE BANK(AIIB) IS NOT COMPETING WITH WORLD BANK. IT IS ALL ABOUT THE NEW SILK ROAD INITIATIVE The Asian Infrastructure Bank is not in competition with the World Bank. The "One Belt and One Road" New Silk Road Initiative as envisioned by President Xi Jingping needs trillions of dollars to complete. Some projects in Central Asia and South East Asia have already started. The AIIB has many projects waiting for funding. Kindly refer to my earlier reports about the progress of the New Silk Road Initiatives. The New Silk Road Initiative will bring connectivity to Central Asia and South East Asia and many parts of the world in terms of modern communication and infrastructure as evidenced by many countries in need who already signed. By some projection, just South East Asia needs 4 trillion dollars for badly needed infrastructure rebuild, for every dollar AIIB invested will bring 5 times the commercial activity in return. That is why the European major countries are signing up not because they wanted to side with China and split with America. The 50 billion dollar initial funds China committed to AIIB is to attract more future investment for the badly needed projects,as a Chinese saying goes China throws out the first brick to attract more jade. China has a very good relation working with the World Bank. China is very appreciative of the funding she received for poverty relief from the World Bank during her early development days. China does not forget old friends. Justin Yifu Lin, the previous chief economist and vice president of World Bank is now working very closely with the Chinese government to launch the current economic reform plans. The AIIB is all inclusive. Right after British, Germany, France and Italy announced their intention to join the AIIB, China immediately announced that America is welcome to join. Unlike the U.S. initiated TPP free trade zone, China was intentionally excluded. The New Silk Road Initiative is the biggest world mutual development now to help the developing world modernize. China welcomes the whole world to participate. That is how China wishes to share her progress. All countries are welcome to benefit from the grand vision of the New Silk Road Initiatives. This is how the future world will progress together, harmony and mutual development not hegemony. Best of Harmony Francis C W Fung, Ph.D. Director General World Harmony Organization San Francisco, CA

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