Thursday, March 19, 2015

China's Place in the New World Economic Order

Competition between the world's two greatest economic powers is both inevitable and (for the most part) beneficial. This is the case even when China and the U.S. are arguing over control of increasingly obsolescentinternational financial institutions.
China's effort to start the new Asian Infrastructure Investment Bank grows more popular by the day, despite U.S. resistance to the idea. The question is no longer whether the bank will fulfill an unmet need, but how best to ensure that it contributes to Asian growth -- and, not incidentally, draws China more deeply into the global financial order.

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