China heralds boost for emerging nations with BRICS Bank opening

Jul 21, 2015

China heralds boost for emerging nations with BRICS Bank opening

The biggest emerging economies opened their New Development Bank in Shanghai on Tuesday, strengthening China’s ability to offer developing nations the support traditionally given by the U.S. and Japan through organizations like the World Bank. The NDB — or BRICS Bank as it is ...

China escapes G-7 blame in sea row

Jun 8, 2015

China escapes G-7 blame in sea row

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The leaders of the Group of Seven industrialized countries release a statement expressing "strong opposition" to massive land reclamation in disputed waters in the South China Sea, but without naming China specifically, and call for a thorough implementation of the cease-fire in Ukraine.

ADB chief says bank ready to cooperate with AIIB

May 8, 2015

ADB chief says bank ready to cooperate with AIIB

The Asian Development Bank is ready to cooperate with the China’s planned Asian Infrastructure Investment Bank, ADB President Takehiko Nakao has said. “Cooperation would be possible in various fields,” he said in an interview following the ADB’s four-day annual general meeting in the Azerbaijani ...

ADB, AIIB agree to collaborate

May 2, 2015

ADB, AIIB agree to collaborate

Asian Development Bank President Takehiko Nakao said Saturday that the bank will boost its loaning capacity to about $20 billion in 2017 from about $13 trillion at present, a move some see as a rivalry against the China-led Asian Infrastructure Investment Bank. “It has ...

| Apr 15, 2015

Is China-led bank a lost opportunity?

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China’s proposed Asian Infrastructure Investment Bank is causing a stir as the majority of Group of 20 leading economies sign on as founding members, while the U.S. and Japan remain on the sidelines. This outcome for a Chinese initiative that challenges the U.S.-led global ...