In the Media

Australia must not miss boat on China banks

OPINION: Professor Ross Buckley, Canberra Times, 30 October 2014.

Last Friday China launched a new development bank, its second this year. The Asian Infrastructure Investment Bank (AIIB) is to have an initial capital of $50 billion, most of which will be provided by China.

Headquartered in Beijing, its members comprise 20 Asian nations, including India, but not Japan, Australia, or Indonesia. This is despite Australia being invited, and early indications that we were interested in joining. Our change of mind has come about after lobbying by the United States. The US is strongly opposed to this initiative.

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