Dispute with US reshapes commercial landscape of region, report from ADB finds.

Growth in developing Asia could slow for a second straight year in 2019 and lose further momentum in 2020, the Asian Development Bank (ADB) said on Wednesday, warning of rising economic risks from a bitter Sino-U.S.trade war and a potentially disorderly Brexit.

The new AIIB reflects China’s opportunity to assist the developing world, but how China cooperates with India, and U.S. interests in the Asia Pacific, will determine the effectiveness of the new Bank.

The key legal framework for the China-initiated regional multilateral institution – the Asian Infrastructure Investment Bank (AIIB) – was inked by representatives of the bank’s 57 founding members in Beijing last Monday. For China and the U.S., the AIIB is not about win-lose. A win-win result can be achieved if both sides are more open-minded.

The Asian Infrastructure Investment Bank will help finance billions in infrastructure projects around Asia, and also challenge the existing financial institutions. Curtis S. Chin, provides suggestions on how the new institution should organized to be efficient, environmentally stringent, and respectful of local rights.

AIIB is redefining global relationships in finance, in an attempt to break through the profit-driven nature of capital and meet more needs for infrastructure investment, writes Zhang Monan.

To some extent, the structures of the Asian Development Bank, World Bank, and International Monetary Fund are obsolete: they can no longer meet the needs of new emerging economies and don’t reflect today’s global economy. The AIIB could serve to invigorate the other banks to become more competitive and efficient.

Despite official American and Japanese opposition, 57 countries have opted to be among the founding members of the China-led Asian Infrastructure Investment Bank (AIIB). Regardless of what naysayers believe, this remarkable turn of events can only benefit global economic governance.

A more dynamic and flexible AIIB has the chance to develop and showcase strong, new and effective accountability mechanisms supported by all shareholders. Here though, China too must learn from and improve upon its own past practices if it is to prove the skeptics wrong.

Many Western countries, the World Bank and other multilateral institutions are embracing China’s proposed Asian Infrastructure Investment Bank. Their analysis concludes that the bank is a strategic asset for themselves as well as Asia, and the US could benefit from the same approach.