Save time by listening to our audio articles as you multitaskToday, Mr Jin is in his seventh year as founding president of the Asian Infrastructure Investment Bank , a multilateral bank hosted by China. He still uses literature to explain his country’s world view to outsiders. In an essay on economic governance, he quotes “The Leopard”, a study of Sicilian aristocratic decline, and its advice: “If we want things to stay as they are, things will have to change.”is a contradictory success story.
Mr Jin, an urbane, professorial sort, says many American friends ask why his bank exists, when China could simply have increased funding to established institutions. To reflect the distinctive development experiences of Asia and China, is his answer. That starts with practical differences: faraway lenders were slow to grasp how soon infrastructure projects would pay off in booming Asia, for instance.
Hints of paternalism can be heard. He mentions relatively low education levels in Asia, and the risks of delaying good projects if local non-governmental groups—which have a right to speak out, he adds—are “hijacked by a very small group of people who put their very narrow interests above the community’s interests.” China believes a market economy can co exist with a “strong, robust state”.
Most of all, China wants outsiders to admire its development and the political system that has overseen it. If China is “a bit allergic to universal values”, he says, the problem is not the notion of all countries agreeing to basic principles. It is that some Western countries apply a “special connotation” to universal values and such terms as democracy, so as to criticise China and other developing countries. This makes China “very uncomfortable”, he says.
Why are we funding every country to rebuild them when neighborhoods across the nation are faced with economical problems. Why not worry about funding the United States and build this country back up. Last time I checked we pay the taxes ,we do the voting and we feel it worse?
That's not what it was made for.
hey, 1st, it's you Economist wants that China wants outsiders to admire its development and the political system .... 2nd, what's the results of nord stream 2 investigation by Sweden? you have nothing to say?
Everyone keep talking about your diligence and honesty and I must say that you are very transparent in your mood of operation and promises, thank you MLisatownsend for transforming my life financially.
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Western colonialism with the gun, from America to Australia, did not accept natives as their own. China still haven't fired a single shot against natives anywhere on Earth and continue to embrace them as their own with many flags!
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