Challenging the World Bank

This refers to the editorial, ‘Replacing the World Bank?’ March 26. With the setting up of the China-led Asian Infrastructure Investment Bank, the economic pendulum is going to shift. Already, many countries – including those from Europe – have shown interest in joining the bank much to the annoyance of

By our correspondents
March 30, 2015
This refers to the editorial, ‘Replacing the World Bank?’ March 26. With the setting up of the China-led Asian Infrastructure Investment Bank, the economic pendulum is going to shift. Already, many countries – including those from Europe – have shown interest in joining the bank much to the annoyance of the US.
The economic dominance of the US is now under challenge as the China-sponsored bank can become a rival to the World Bank. It is hoped that the AIIB will offer assistance without strings attached to the developing world unlike the World Bank, IMF, IBRD, ADB, etc.
Arif Majeed
Karachi