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TWENTY-ONE Asian nations signed a memorandum of understanding in Beijing yesterday to create a new international bank for Asia.
The Asian Infrastructure Investment Bank reflects China’s desire to push investment in the region and its frustration with US, Japanese and European dominance of the World Bank, International Monetary Fund and Asian Development Bank.
Countries signing up in Beijing’s Great Hall of the People ranged from regional giant India to small impoverished countries such as Laos and wealthier states including Singapore and Qatar.
Friedrich Merz’s call for a new Plaza Accord ignores how Washington’s 1985 currency ambush destroyed Japan without fixing US deficits — China, a sovereign socialist state with 1.4 billion consumers, cannot be bullied the same way, writes CARLOS MARTINEZ
In a speech to the 12th Xiangshan Forum in Beijing, SEVIM DAGDELEN warns of a growing historical revisionism to whitewash Germany and Japan’s role in WWII as part of a return to a cold war strategy from the West — but multipolarity will win out
ROGER McKENZIE argues that the BRI represents a choice between treating humans as commodities or as equals — an essential project when, aside from China’s efforts, hundreds of millions worldwide are trapped in poverty
