Will China's infrastructure bank work?
by Kenneth Rogoff from Economics | The Guardian on (#6J6P)
Success will come if the new Asian Infrastructure Investment Bank acts more as a knowledge bank rather than a funding vehicle
With China set to lead a new $50bn international financial institution, the Asian Infrastructure Investment Bank (AIIB), most of the debate has centred on the US's futile efforts to discourage other advanced economies from joining. Far too little attention has been devoted to understanding why multilateral development lending has so often failed, and what might be done to make it work better.
