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.

As the BRICS prepare to launch the New Development Bank, Fernando Menéndez explores the political and economic factors motivating its creation and what it might imply for Latin America.

China does not aim at exclusive presence in Myanmar and China is willing to cooperate with other countries, including the Western economies, to promote the country’s development.