Because this bank will be focusing on providing financial support to infrastructure development within ASIA.Now explain me how is this Asian bank while asian have same ownership percentage as European/rest of the world. Both Asian and rest has 25 % ownership so how this is going to benefit asian as so far i see this is china hegemony bank while it control 50% ownership :|
Well, any proposal in IMF requires a majority approval of 85% which means USA can veto any bill by herself alone. This situation can't be change even if countries like China and India are willing to increase their contribution (actually the bills of changing share structure have been blocked by US for years).Even USA has 16.75 % in IMF so far seems like this bank is nothing but china try to put hegemony over whole asia?
In the case of AIIB, Chinese already made it clear: firstly, the proposal only require simple majority; secondly, their share should be lowered to 20% eventually.
So, no, this bank could be anything but an hegemony over whole Asia.
No.When this was announced last october this was the prefix
Has those changed?