The day before yesterday an article appeared on the Guardian website
that had the aura of a Chinese government press release:
As world leaders met quietly behind the scenes, others lined up to
express support for the new development push that aimed to eliminate
both poverty and hunger over the next 15 years. They replace a
soon-to-expire set of development goals whose limited success was
largely due to China’s surge out of poverty over the past decade and a half.
China’s president vowed to help other countries make the same
transformation. Xi said China would commit an initial $2bn to establish
an assistance fund to meet the post-2015 goals in areas such as
education, healthcare and economic development. He said China would seek
to increase the fund to $12bn by 2030.
And Xi said China would write off intergovernmental interest-free loans
owed to China by the least-developed, small island nations and most
heavily debt-burdened countries due this year.
He said China “will continue to increase investment in the least
developed countries,” and support global institutions, including the
Beijing-backed Asian Infrastructure Investment Bank that is due to
launch by the end of the year and is seen as a Chinese alternative to
the more western-oriented financial institutions of the World Bank.
After having read and reviewed Patrick Bond and Ana Garcia’s “BRICS: the
anti-capitalist critique”, I am more skeptical than ever about Chinese
altruism especially the role of the Asian Infrastructure Investment Bank
referred to in the last paragraph above.
full:
http://louisproyect.org/2015/09/29/will-the-asian-infrastructure-investment-bank-be-any-different-than-the-world-bank/
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