The China Post
Date: April 2, 2015
By: Yuan-Ming Chiao
TAIPEI, Taiwan — The Asian Infrastructure Investment Bank (AIIB) has taken the world by storm, much to the chagrin of the United States. Most of America’s allies, excluding Japan, have applied to join China’s latest multilateral foray, indicating that an ever-increasing number of advanced economies are willing to cooperate with the world’s second largest economy despite U.S. objections.
For the United States, China’s ambitions in Asia are the latest reminder that its influence in the region is at the very least being challenged economically. While the White House National Security Council stated that “the international community has a stake in seeing the AIIB complement the existing architecture, and to work effectively alongside the World Bank and Asian Development Bank (ADB),” even Western diplomats are viewing the U.S. attitude toward China as sour grapes. As Japan and the U.S. have the greatest influence over the investment decisions of the ADB, China’s intentions seem logical for a country trying to exert greater influence in its neighborhood. [FULL STORY]