Podcasts about Asian Infrastructure Investment Bank

In his address to the IIEA, Governor Makhlouf shares insights into the nation's current economic position and the Central Bank of Ireland's priorities for 2025. His address offers perspectives on monetary policy, fiscal stability, and future economic priorities for Ireland and the euro area. About the Speaker: Gabriel Makhlouf took up his position as Governor of the Central Bank of Ireland on 1 September 2019. He chairs the Central Bank Commission, is a member of the Governing Council of the European Central Bank, a member of the European Systemic Risk Board, and is Ireland's Alternate Governor at the International Monetary Fund. Prior to joining the Central Bank, Governor Makhlouf was Secretary to the New Zealand Treasury and the Government's chief economic and financial adviser from 2011 to 2019. During his time as Secretary, he led reviews of New Zealand's three macroeconomic pillars (monetary, financial stability and fiscal policy) and the development of a new framework for the development of economic and public policy focused on intergenerational wellbeing. In addition, Governor Makhlouf was New Zealand's Alternate Governor at the World Bank, the Asian Infrastructure Investment Bank, the Asian Development Bank, and the European Bank for Reconstruction and Development. He was also co-chair of the Trans-Tasman Banking Council.

A special broadcast from our pop-up studio in Davos for the World Economic Forum’s annual meeting. Monocle’s Carlota Rebelo speaks to Erik Berglof of the Asian Infrastructure Investment Bank about the biggest challenges faced by emerging economies; Politico’s Sarah Wheaton discusses Spanish prime minister Pedro Sánchez’s warning to defend democracy; and we hear about Switzerland’s role as a global convener with Presence Switzerland's Alexandre Edelmann. Plus: Adam Penny and Claudia Biçen of ‘The Beautiful Truth’ on helping leaders find their purpose and Monocle’s Jessica Bridger reports from the Promenade.See omnystudio.com/listener for privacy information.

The Asian Infrastructure Investment Bank is considering financing the Egyptian government with about USD300 million.The Ministry of Petroleum announced 8 new liquefied gas shipments during this November, to meet the needs of the local market for power generation and industrial activity. The Assistant Minister of Tourism revealed the issuance of financing approvals worth EGP17 billion, to establish a number of floating hotels within the Tourism Finance Initiative. Canadian gold miner Aton Resources will set up a gold extracting and processing facility to process finds from its Abu Marwat concession in the Eastern Desert, according to an Oil Ministry statement.The Ministry of International Cooperation requested an extension of World Bank's "Support to Education Reform in Egypt” program from the international lender until August 15, 2025, to compensate for the accumulated delays. State-owned Misr Petroleum inked a syndicated loan agreement with nine banks for EGP 10 bn, according to a statement (pdf) from the National Bank of Egypt that confirmed earlier unconfirmed reports.Officials of the Polish home furniture manufacturing company PADMA presented a plan to establish a furniture industrial complex in the city of New Alamein, with investments amounting to EUR70 million in the first phase.ETEL reported 3Q24 results. Net profit came in at EGP2.12 billion in 3Q24 (-13.6% YoY, -19.4% QoQ), bringing 9M24 net profit to EGP9.15 billion (-5.6% YoY). ETEL is currently trading at 2025f P/E of 5.0x.MTIE reported 3Q24 results. Net attributable profit came in at EGP289 million (+61% YoY, +17% QoQ). This brought 9M24 net attributable profit to EGP782 million (+65% YoY). MTIE is currently trading at 2025f P/E of 6.9x.PHDC signed an agreement with Saudi Arabia's Dallah Real Estate to establish a joint venture to develop multi-use projects in Saudi Arabia. HELI reported 3Q24 net profit of EGP347.3 million, compared to 3Q23 net loss of EGP16.5 million and 2Q24 net profit of EGP650.1 million, bringing 9M24 net profit up 216.1x y/y to EGP1.7 billion.EAST released 1Q24/25 financial indicators, reporting net income of EGP1,825 million (+62.4% YoY, -54.5% QoQ), implying NPM of 22.5% (-13.8pps YoY, -37.1pps QoQ). EAST is currently trading at FY24/25f P/E 5.5x.PHAR issued Positive 3Q24 results. Net profit after taxes amounted to EGP205 million, up 17% QoQ and 52% YoY. 9M24 bottom line registered EGP985 million, higher by 53% YoY. PHAR is currently trading at FY25 multiples of P/E of 6.5x.CICH 3Q24 net attributable profit recorded EGP344 million (+3% q/q, +50% y/y, and 14% higher than Al Ahly Pharos estimates of EGP301 million) bringing 9M24 bottom line to EGP1,617 (+117% y/y). CICH is currently trading at P/B25 of 0.7x and P/E25 of 3.1x.ATLC 3Q24 net income recorded EGP34 million (-60% y/y, -4% q/q), bringing 9M24 net income to EGP108 million (-25% y/y). ATLC is currently trading at P/E25 of 4.0x and P/B25 of 0.9x.LCSW reported strong 3Q24 consolidated results. Net attributable income came in at EGP227.8 million (+190% YoY, +52% QoQ), on steady revenue growth and operational margins. 9M net attributable income surged 155% YoY to EGP855.7 million. LCSW is currently trading at FY25e PE of 3.1x.EGAL reported solid KPIs for 1Q24/25. Net profit after tax came in at EGP4.2 billion in 1Q24/25 (+160% YoY, +3% QoQ), beating our estimate of EGP2.3 billion for the quarter.  EGAL is currently trading at FY24/25e P/E of 4.4x.MFPC released 3Q24 financial results posting a net profit of EGP1.35 billion increasing by 8% YoY (-47% QoQ). This brought 9M24 net profit to EGP11.56 billion, a 121% YoY growth. MFPC is currently trading at a 2025e PE of 6.2x.

Investing For Resilience: A Panel Discussion With Asian Infrastructure Investment Bank by Overseas Development Institute

*Key news articles for today*Mostafa Madbouly penciled in the third week of July as when the country will be ready to “stop cutting electricity completely throughout the summer period.” However, Madbouly clarified that the current “one hour” extension will continue as planned until the end of the week and that power cuts will resume after the summer months until the end of year. The surprise week-long extension of additional outages this week came as a result of a gas field in a “neighboring country” being offline for a 12-hour period, Madbouly saidMadbouly laid out a USD1 bn plan to import fuel to power energy plants till the end of the year, in addition to USD180 mn to import 300 tons of mazut next week.Alongside upping supply, the government wants to lessen energy demand by closing all shops and malls — with the exception of supermarkets, restaurants, and pharmacies — by 10pm. Restaurants will be allowed to run until 1am.MPs are set to vote today on a USD47 mn extension to a USD125 mn USAID grant to back rural development.The CBE took accepted bids from 32 banks for EGP1.1 tn in fixed-rate deposits at a rate of 27.75% during its first weekly fixed-rate auction after the Eid Al Adha break.The production of the Zohr gas field rose an average of 1.9 billion cubic feet per day at the present time, compared to 1.8 billion cubic feet on average during the last period.MPs approved an agreement with the Asian Infrastructure Investment Bank to provide a EUR250 million to develop the Abu Qir railway line in Alexandria and turn it into an electric metro.AMOC's BoD approved FY24/25 budget including a CAPEX worth EGP551.8 million. The budget also included revenues of EGP42.0 billion (vs. EGP28.2 billion in FY23/24 budget) and a net profit of EGP660.2 million (vs. EGP603.5 million in previous year budget).ABUK sent a release announcing that due to the heat wave and natural gas shortage. Accordingly, the company's three plants have stopped in order to prevent any damage. Also, SKPC sent a release announcing that there is a total plants shutdown and stoppage of production due to the lack of feed gas. Government sources confirmed that gas supply will be resumed gradually by the end of the current week.EFIH will distribute around 0.249 bonus share for each original share on 11 July 2024. Record date is on Wednesday 10 July 2024. This brings the company's capital to EGP1.15 billion.Banque Misr and the National Bank of Egypt are lowering their FX markup fees to 5% from 10% and raising their FX credit card limits by 50%. Also, EGBE and HDBK are reportedly raising their FX credit card limits.The FRA has given CICH's asset management arm, CI Capital Asset Management, preliminary approval to set up a fund investing in the newly launched sharia-compliant EGX33, with plans to open the doors for investors looking to subscribe to the fund by 3Q 2024.HRHO's ValU has signed a strategic partnership with Alameda Healthcare Group, to provide a range of flexible payment solutions to its customers.Red Sea Ports Authority is studying to build a new multipurpose station in Suez Port, as part of the infrastructure development plan for the logistics and ports sectors.  

Hear from Daniel Wagner, CEO of Country Risk Solutions, about the complexities of the global geopolitical risk landscape. In these volatile and uncertain times, identifying, measuring and managing geopolitical risk is a daunting task. Everywhere we turn, geopolitical struggles are grabbing headlines, whether we're talking about, for example, the Israel-Hamas and Russia-Ukraine wars, U.S.-China strategic relations, or Red Sea hostilities. These multi-layered events are having a huge impact across the risk management spectrum, affecting everything from market risk to supply-chain risk to credit risk, cyber risk and liquidity risk. Complicating matters further, they are idiosyncratic and very difficult to predict. Keeping all this in mind, there are certainly still steps that financial risk managers can take to better measure and mitigate geopolitical threats. Our guest speaker, Daniel Wagner, is the perfect person to shed light on today's complex geopolitical environment and to peer into the future.  Links From Today's Discussion: GARP Benchmarking Initiative (GBI)®   Speaker's Bio Daniel Wagner, founder and CEO, Country Risk Solutions Daniel has more than three decades of experience assessing cross-border risk. He is an authority on political risk insurance and analysis and has worked for some of the world's most respected and best-known companies, including AIG, GE, the African Development Bank, the Asian Development Bank, and the World Bank Group. Until the end of 2023, he was Adaptation Finance Lead and Technical Advisor on Private Capital Mobilization for COP28 in Abu Dhabi. Prior to that, he was Senior Investment Officer for Guarantees and Syndications at the Asian Infrastructure Investment Bank in Beijing and Abu Dhabi. Daniel has published 10 books – Decision-Making in the Polycrisis Era, The Chinese Epiphany, The Chinese Vortex, The America-China Divide, China Vision, AI Supremacy, Virtual Terror, Global Risk Agility and Decision-Making, Managing Country Risk, and Political Risk Insurance Guide – as well as more than 700 articles on current affairs and risk management. He is a regular contributor to such publications as the South China Morning Post, Sunday Guardian, Diplomatic Courier and Fair Observer, among many others. Please see www.countryrisksolutions.com for a full listing of his publications and media interviews.

Jing Qian joins the U.S.-China Nexus to take stock of the Asian Infrastructure Investment Bank.

Investing in next-generation infrastructure for the future – that's what we're going to talk about today.  Named after the tallest tree in Singapore, Seraya Partners is a Singapore headquartered private equity firm that focuses on mid-market Asia infrastructure.  The firm invests in areas such as digital infrastructure and the energy transition, and aims to address what it describes as “the region's burgeoning trillion dollar infrastructure gap” amid mega trends such as intensive climate change, rapid urbanisation and ageing infrastructure. So far, the Seraya Partners raised S$800 (or S$1.08 billion) for its Asia infrastructure fund that focuses on digital infrastructure and energy transition investments in what's said to be an oversubscribed round.  The PE company said it secured capital from global institutional investors including sovereign wealth funds, pension funds, insurers and family offices in North America, Europe and Asia Pacific.  Limited partners included Asian Infrastructure Investment Bank, Alberta Investment Management, as well as funds and accounts managed by BlackRock.  The firm added that 50 per cent of funds had already been allocated to data centre operator Empyrion DC, offshore wind farm vessel operator Cyan Renewables and solar, wind and energy solutions developer Astrid Renew. But how much money is in this pool? What is the ROI expected by the participants in its Asia infrastructure fund? Also – where is the firm looking to deploy the remaining funds?  On Under the Radar, The Evening Runway's finance presenter Chua Tian Tian posed these questions to James Chern, CIO and Managing Partner, Seraya Partners. See omnystudio.com/listener for privacy information.

Bob Pickard joins the PRovoke Media podcast to discuss his dramatic exit from the Asian Infrastructure Investment Bank, whom he accused of being overly influenced by the Chinese Communist Party. In conversation with Arun Sudhaman, Pickard responds to a subsequent AIIB report that dismissed his allegations, and instead claimed his tenure was marked by "managerial shortcomings". He also discusses the geopolitical environment for Western companies in China, and explains why he took on the role in the first place. 

Tamar Gutner, associate professor of international affairs at American University's School of International Service, leads the conversation on the international financial architecture. FASKIANOS: Thank you. Welcome to today's discussion of the Fall 2023 CFR Academic Webinar Series. I'm Irina Faskianos, vice president of the National Program and Outreach at CFR. Thank you for joining us. Today's discussion is on the record and the video and transcript will be available on our website, CFR.org/academic if you would like to share them with your colleagues or classmates. As always, CFR takes no institutional positions on matters of policy. We are delighted to have Tamar Gutner with us to discuss the international financial architecture. Dr. Gutner is an associate professor at American University's School of International Service, and expert on the performance of international organizations and their roles in global governance. In 2019, she held a CFR Fellowship for Tenured International Relations Scholars at the International Monetary Fund's Independent Evaluation Office. She is the author of International Organizations in World Politics, published by CQ Press; and Banking on the Environment: Multilateral Development Banks and Their Environmental Performance in Central and Eastern Europe, published by MIT Press. And she recently completed a book manuscript on the birth and design of the Asian Infrastructure Investment Bank and its role in the landscape of development banks. So, Dr. Gutner, thank you very much for being with us today. I thought we could begin by having you outline for us the various change-related proposals and activities facing the World Bank, other multilateral development banks, and the International Monetary Fund. Just a small question, but—(laughter)—over to you. GUTNER: Thank you. Thank you, Irina, for introducing me, and thank you for having me as part of this seminar. I think these seminars are just a fantastic way for scholars, professors, students, and others to engage with these important issues, and I'm really excited to see so many people from around the world and professors and students and I see some colleagues in the audience. So I'm really looking forward to engaging with all of you. Right, so this is a critical time for the IMF and the World Bank and other development banks because their importance has been heightened by the need for them to respond to the various crises and challenges that we're facing now. Many of these, as you know, are quite difficult to solve, like climate change. And the world is also dealing with the ongoing economic and social and health repercussions from the pandemic, the repercussions of Russia's invasion of Ukraine including food insecurity. And we're also living in a time when a lot more countries are at high risk of debt distress, and it's a time when it's becoming clear that progress toward achieving the Sustainable Development Goals are stalling. We also have major geopolitical tensions, which is an issue as well. So the IMF and the World Bank are leading international organizations in this scenario today. The IMF has been called the center of the global financial safety net. And the World Bank, meanwhile, is the leading multilateral source of climate finance, and is also playing a huge role in responding to various development challenges that impact its borrowing countries. And also, the regional development banks are addressing these issues as well. So for people who support multilateralism, there's widespread agreement that no one state or actor can solve any of these cross-border issues on their own. And that means we're living in a time when cooperation and multilateral action is absolutely essential, and these people agree we need more to be done to address these issues. But we're also living in a time when many states have inward-looking politics, where there's rising nationalism and populism. And this has produced people and leaders who either don't see the value of international organizations (IOs) like the World Bank and IMF or they see them as contrary to national interests. The IOs themselves—the international organizations themselves—also struggle with relevance sometimes and mixed performance sometimes. And the IMF and World Bank constantly face criticism. They're always being criticized. But I think one important thing to remember is that there's no consensus among the critics. There are always people who want them to do more. There are people who want them to be abolished. So when you're exploring the kind of critiques of these organizations it's important to keep that in mind, just they're coming from different actors and they have different thoughts. And, meanwhile, these institutions themselves, they have—it's tricky for them because they have a tough job. They have to be responsive to their member-state shareholders, who don't always agree with each other. They have to try to be responsive to other stakeholders, for example civil society actors; they don't always agree with each other or with their member states. And so these institutions are constantly being pulled in different directions and they have to navigate that. To their credit, they do try to adapt and adjust, not always effectively. And there's also variation in what they've done well and haven't done well. But it's precisely at this time today with these international crises that the Bank and the Fund and the other MDBs—multilateral development banks—have to try to do better. And what I want to do is offer you a brief overview of some of their efforts to do so and some of the challenges that face these efforts. So I'll begin with the World Bank, which is in the midst of a process to figure out how to update its mission, its vision, its strategy, and its operating model. And this is a process that has been driven by shareholders, including the G20 members, and lots of other consultations. Last fall—well, first of all, I want to say there are a number of proposals on the table on how to reform the World Bank and other MDBs, and they have in common calling for these institutions to do a lot more to address climate change and other global public goods. And some of them call for more effort to better engage with private capital and to rethink how these institutions, which are in part banking institutions, how they can maximize the impact of their capital. So last fall the World Bank embarked on what's been called an evolution roadmap to think through ideas for what should be done. This came out late last year amid calls for the Bank to be bigger and better. And this initiative was launched by U.S. Treasury Secretary Janet Yellen a year ago, and she led an effort with other non-borrowing and borrowing countries to call for the whole multilateral development bank system to evolve. As she put it, the world has changed and we need these vital institutions to change along with it. So the idea underlying all of these proposals is for MDBs to be more innovative and efficient. India made MDB evolution a priority in its presidency of the G20 this year, and there have been different expert panels that have also called for radically reformed and strengthened multilateral development banks. So what's interesting for this audience is this evolution roadmap process will eventually turn into the World Bank's strategy, its corporate strategy, and the latest version of it will be discussed next week at the IMF-World Bank annual meetings in Marrakesh. So if you're interested in following that, keep your eyes on the news. And the latest version is seeking approval for measures that will allow the World Bank to boost its lending by $100 billion. So this—the document circulating now for the development—the Joint Ministerial Committee of the World Bank and IMF—and we'll see what happens with it. And I'm happy to talk more about the document itself in the Q&A. These efforts to reform the World Bank are also impacting other regional development banks. So, for example, the Asian Development Bank recently announced it, too, will lend an additional $100 billion over the next ten years by relaxing some of its risk rules for its banking, how it manages its assets, without jeopardizing its triple-A credit rating. The IMF also has been trying to change and adapt in recent years. It's not directly part of this evolution framework that's focusing on MDBs, but the IMF has really turned attention to climate change and also to gender and inequality. And it's essentially pushing forward a kind of a slow change in thinking where economists, and finance ministers, and central bank leaders have realized that these issues are essential to macroeconomic stability. So climate change has become a more visible focus of the IMF's work, its work in surveillance, its capacity development activities, and its general work with countries. Its first strategy for mainstreaming gender was adopted in July 2022. And, like the World Bank, it has also created a number of mechanisms to respond to the pandemic. So it has a new resilience and sustainability trust. And the goal of it is to help low-income member states to address climate change and issues like pandemic preparedness. And it also has a new food shock window to offer emergency financing for countries facing food insecurity as a result of everything going on today. So this is—it's interesting to watch both of these institutions. The IMF typically has a harder time changing because it's a more rigid, set in its ways organization. But it, too—it's not your grandmother's IMF anymore. But all of these efforts are going to face their own sets of challenges. And I want to briefly highlight a few of them before we have our Q&A. So in the World Bank's roadmap, which is also being called a new playbook, the question is: Is it a zero-sum game to balance more focus on global public goods like climate change with individual countries' own development priorities? And there are many people who say, no problem. Kristalina Georgieva, the managing director of the IMF, when talking about this balancing issue, she said: Well, we can chew gum and walk at the same time. But these goals may have areas of overlap, where a country's own development issues do coincide with these global public goods, but there may be areas where they do not. And that's something that has to be worked out. There's also some criticism in civil society and other actors about asking the multilateral banks to do much more to engage with the private sector. First of all, this idea has been around for a while, this idea of turning billions and trillions, for example, was part of the 2015 UN Financing for Development Conference. And it hasn't really come through. So it's a difficult issue to do. There's going to be more work on it. But some organizations actually are concerned about potential negative effects of prioritizing incentives for private finance to provide co-financing to development efforts, because private sector goals are not always the same as public goals, right? So there's some areas of tension. And finally, I just want to flag that all of these organizations are calling for more collaboration. Collaboration is almost the magic wand that will help all these efforts to work out better. And, in fact, if you look at the IMF's new annual report, which was just published, it lists on its front page “committed to collaboration.” But, in fact, it's not that easy for these organizations to collaborate. And I'm happy to break that down a little bit more. And so this great emphasis on something that can be difficult will be something that these organizations have to grapple with. I'm happy to talk about more of the issues in our Q&A, but I think I should stop here and open it up to questions or comments. FASKIANOS: Thank you, Tammi. That was fantastic. So we're going to go to all of you for your questions. (Gives queuing instructions.) OK, so I'm going to take the first question from Mojúbàolú Olúfúnké Okome. Q: Thank you. Mojúbàolú Olúfúnké Okome. I'm a professor of political science at Brooklyn College. And I'm just wondering about this financial architecture that is much criticized, as you said. And I'm wondering the extent to which the criticism informs new decisions that are taken. So the criticisms about people who say the organization should be abolished is coming from the Global South, where there's been feeling since the 1970s that these organizations are not sufficiently sympathetic or understanding of the challenges faced by the countries that had unsustainable debt, and are still in a deeper state of unsustainable debt today. So how is the global architecture on these—in these organizations dealing with these challenges? I heard for the first time, like, in the last five years—Lagarde, I think it was—that said, oh, we made mistakes in some of the advice that we were giving. So who pays for those mistakes? People's lives are damaged, economies are wrecked. And you know, so what are the—what's the good of these changes, really? GUTNER: Yeah, thank you so much for that question, because that's a really good reflection on some of the harsh criticism that these institutions face. And I also would not be someone who says they do everything right, because they don't. But it has been interesting to watch some of the ways that they've evolved. So, for example, they do interact much more with civil society than they used to. I mean, it used to be in the old days when the IMF and World Bank had their annual meetings, civil society actors would protest outside on the street in Washington, DC. And I would tell my students, feel free to go down there but please maybe try not to get arrested, you know? So there were—there were very large protests. Now, when they have the annual meeting, civil society actors are in—are part of it. They're engaged in seminars. They're engaged in discussion. The institutions have strengthened some of their accountability measures, although I could argue some of them are also still weak. But there have been changes. So for example, the IMF now addresses and thinks about social protection, which it didn't used to do, and social safety nets, which it didn't used to do in the past. So you can argue that these changes aren't enough, and they're too late, and it's still harmful. But I think there is evidence that they do try to evolve and adapt, maybe not perfectly. And also, it's really difficult to change a huge institution. It's like turning a large ship. You know, it doesn't happen quickly. But the narrative today is different from the past. I mean, there is—there is more focus on climate change, for example. Which you can argue some countries, it's not really their priority. But even that's changing. More countries, more developing countries, are realizing that issues of climate change are related to them, whether it's through natural disasters, you know, hurricanes, floods, mud—you know, all of this. So I think it's—I think this criticism is still out there. And it exists. The institutions are imperfect. But they do—they do slowly try to adjust and adapt. And if you dig into it, if you go into detail, you'll find that they do a better job in some issues than others, in some countries than others, in some periods of time than others. So as a scholar I would argue that you—it's hard to make a blanket statement about them without kind of unpacking, you know, specific cases and over time. FASKIANOS: Thank you. I'm going to take the next written question from Jon-Paul Maddaloni, a military professor at the U.S. Naval War College: For the World Bank, what is the definition of creditworthy? Is this a debt-to-GDP ratio? Is there a standard here that may be part of the developing world grievance against the World Bank? GUTNER: So there are complex ways of assessing that. But basically, one of the major ones is to decide if a country is eligible for IBRD loans, which are International Bank for Reconstruction and Development, the main part of the World Bank, which are loans that have to be repaid. And if a country is relatively less creditworthy or poor countries can access grants, or no-interest loans, or concessional funding from the World Bank's arm that's called IDA, the International Development Association—or, Agency. (Laughs.) I just—I just call it IDA. So if you're—if you're able to access IDA funding, you're relatively less creditworthy. The World Bank also has other facilities to offer—both the bank and also the IMF—capacity development, which is just money given for technical assistance. And those are the different categories for the World Bank. So countries can change category. So if a country becomes more economically stronger, it can graduate from IDA concessional financing. If it becomes weaker, it can access that financing. And there are some countries which can get a blend. In other words, they're creditworthy enough to be able to take some amount of loans, but not enough so that all of their financing can be a loan form. So these are some of the ways that the World Bank responds to different categories of creditworthiness. FASKIANOS: Fantastic. I'm going to take the next question from Fordham's International Political Economy and Development Program. They have a raised hand. If you can just say who you are. (Laughter.) Q: Thank you for being with us today. I'm Genevieve, part of the Fordham IPED Program. My question is, what are some specific examples of how a country's national political landscape and private interests cause these setbacks for cross-sectoral collaboration in these development banking efforts? And how do these large banking institutions work around corruption, for example? GUTNER: I'm sorry. Can you repeat the first part about collaboration—cross-sectoral collaboration? Q: Yeah. What are some specific examples of how a country's national political landscape and private interests cause setbacks for cross-sectoral collaboration for these development banks? And then we could take corruption as an example. GUTNER: So I'm not 100 percent sure what you mean by the—by the cross-sectoral collaboration. When I'm focusing on collaboration, or when the narrative is focusing on collaboration, it's really focusing more on collaboration between, for example, the World Bank and IMF. How do they collaborate? And the answer to that is, they haven't collaborated well for almost eighty years. But that's not—what I think you're asking is, what happens between these institutions and the national level? Well, one issue—the issue of corruption has become much more widely discussed in both the World Bank and the IMF. In the past, it was seen as a domestic political issue, which is really outside their articles of agreement. They're not supposed to get involved in these domestic political issues. But there's much more awareness today that corruption—for example, in the IMF—corruption impacts a government's health—the fiscal health, their ability to have money to spend on development. And the same is true for the World Bank. So there's much more attention on these issues. The institutions still have to navigate carefully so that they don't look like they're getting involved in politics, even though they can't really avoid it. But so corruption is much higher on the priority list. And it can impact a country's ability to get funding from either institutions. So from the World Bank, and they have—they have lists of companies they won't work with in procurement, for example, who are barred from engaging in procurement. And it's part of discussions. It shows up in the partnership—the framework documents that both countries produce for individual countries. So a kind of a—this is a long way to say, it's on the radar and it matters. But a lot of the collaboration issues are related to how the institutions work with each other. But also in country, I should add, that in some countries the donors collaborate on the ground. So they meet together and they try to make sure they're not overlapping. There's—it doesn't always work very well. You know, in some cases it works better than others. But for the institutions to collaborate more with each other, they have faced many challenges in doing that. FASKIANOS: Thank you. I'm going to take the next question from Joshua McKeown, associate provost and director of the international education at State University of New York at Oswego: For context, how much lending does the World Bank do in comparison with regional development banks? GUTNER: Well, I guess it depends. I don't have all that data at my fingertips, but the World Bank in the last—in—let's see, I do have the World Bank data at my fingertips. Let me just pull it up. See where I had it. The World Bank in its current annual report, the IBRD committed $38 and a half billion in 2023. IDA committed $34 billion. The regional banks are much smaller, so the World Bank tends to be the largest. But there's also a lot of variation across the regional banks as well. Now it's important to say that they will often cofinance projects with each other. So the regional banks will engage with the World Bank, and they'll have shared projects, and they'll work together. There are times where they also will compete with each other on occasion. They might both be interested in funding an airport—building an airport somewhere. And one of them may offer more attractive terms than the other. But the competition is not kind of a serious problem, because basically wherever you look in the world, there's almost an infinite demand for infrastructure finance. You know, show me a city that doesn't need a new metro, or the roads repaired, right? So there's a lot of demand out there for these banks to be able to do what they do. And but that has to be tempered with the, on the other side, how much debt can an individual country take on? And that's where we're seeing more serious problems today. FASKIANOS: Thank you. I'm going to take the next question from Samia Abdulle from Professor Fazal's class. And she is at the University of Minnesota: How has COVID-19 renewed the debate about the World Bank's role in international development? GUTNER: That's a great question, because when it comes to crisis, member states turn to these institutions right away. And this is a little separate from your question, but before the global financial crisis, for example, the IMF and the World Bank had seen their demand for their services drop dramatically. There were questions about the legitimacy of the IMF. Then the global financial crisis hit and, boom, they were kind of the go-to organizations to help respond to these issues. So the World Bank and the IMF both responded pretty rapidly to the pandemic. And they each came up with new facilities, they got money out the door quickly, they relaxed some of their conditions. So they both had a kind of a robust response. Now, there are people who are saying, well, it was not enough. It should have been more. But, you know, they did a lot. And in an emergency situation, also, you have to remember, they all had to work at home as well. So everybody was working at home. Nobody could travel, but yet they got a lot of money out the door quickly, in different kinds of ways. And I think what we're going to have to revisit down the road is, did any of that money disappear? You know, where—was there accountability for all this money, because it was moved out the door so quickly. And the head of the IMF, Kristalina Georgieva, would say: Just save your receipts. (Laughs.) Just save your receipts. But that's going to be something to see, what happened with this money, where did it actually go, how did accountability work? But the World Bank alone got $30 billion—it dispersed $30 billion in fifteen months at the beginning of the pandemic in emergency support. So they really did step up. And whether it was enough or not is a matter of opinion. But they moved—they did move quickly. And I should just add, since you asked about—I just want to add one thing. The World Bank was involved in getting people access to vaccines, helping weak health infrastructures in countries, and all kinds of issues related to the pandemic. FASKIANOS: Fantastic. So I'm going to take the next written question from Yiagadeesen Samy, who's the director of the School of International Affairs at Carleton University in Canada: You already covered the AIIB in your opening remarks, and we will be circulating this transcript in the video later, but let's look at the second part of the question. Can you comment a little bit on whether the proposed changes to MDBs are a reaction to China's growing influence? And if so, what your views are about the changing geopolitical economic dynamics? GUTNER: It's so great people are asking these simple questions. (Laughs.) FASKIANOS: I know! GUTNER: Yes. FASKIANOS: Keeping you on your toes! (Laughs.) GUTNER: Yes. So let me preface by saying this: China has different strategies in development banking. On one side, you have the AIIB, for example. On the other side, the Belt and Road Initiative. The AIIB is not—in my research, it's cut from the same cloth as other development banks. It's not a threat. It's a part of the landscape of development banks. It's part of the community. It was designed by an international group of experts. In fact, the person who wrote the AIIB's articles of agreement was an American. And the person who designed the AIIB's environmental and social framework was an American. So it was a—it was a real international effort. And in fact, the World Bank helped the AIIB get set up. So the World Bank volunteered staff and gave the AIIB advice on things like vacation policy and office furniture. This is the Beijing office of the World Bank. And the World Bank even ran the AIIB treasury at the beginning, and it cofinanced projects. So the AIIB is cut from the same cloth as development banks. Now, it does have some differences. It's has—it's much smaller. It has a staff under four hundred. The World Bank is ten thousand, for example. And so there are some people who think it might have spurred the World Bank to pay more attention to doing more on infrastructure, which it had moved away from a little bit because that's the AIIB's focus. But the Belt and Road is something different. It's a bilateral initiative. It's an umbrella for Chinese financial institutions to lend money for infrastructure. It's not actually an organization. It's just an umbrella term. And there are differences, because the banks lending under the Belt and Road, Chinese institutions, they don't follow global norms on environmental and social framework, on safeguards. They're not transparent. We can't—we don't know how the loan is structured. They don't report the lending numbers to the Paris Club, for example. So there's a real difference between China's strategy in the AIIB and China's strategy in the Belt and Road, which reflects the different natures. There's not one Chinese strategy. So I think, in a way, the existing development banks help the AIIB more, and their staff help the AIIB more. The Belt and Road is a separate thing. But what I think is going to be interesting is to see if the borders, the boundaries between what is done following global norms, and rules, and procedures, if there's any kind of crossover with what's inside those borders and what's outside those borders. So for example, the AIIB is hosting a facility to help countries better design infrastructure projects that might be undertaken under Belt and Road. And so we just have to keep an eye on that. But it's not—it's not a bleak or black and white picture, the way some people describe it. FASKIANOS: Fantastic. A good follow up question from Steven Shinkel, who's the military professor of national security affairs at U.S. Naval War College: Can you compare the relative use of concessional loans between the World Bank and China? What about loan forgiveness, especially in regions such as Africa and South America? GUTNER: Right. So most of the Chinese lending under Belt and Road is not concessional. Most of it is not concessional. And often interest rates are higher than a comparative loan, even from the IBRD, even non-concessional lending. So they will often charge higher interest rates, but they will have less conditionality. So a country trying to decide who to take a loan from will have to weigh that. Do we want a lower interest rate loan from the World Bank that might have more policy conditionality, we might have to adjust our policy, we might have to think about environmental impacts more? Or do we want a slightly more expensive loan from a Chinese lending institution, but it doesn't have any strings attached? So that's kind of the part of the decision-making that borrowers have to go through. On debt—the second part was on, I'm sorry, the question disappeared. On debt? FASKIANOS: Oh, sorry. Yes, the second question is: What about loan forgiveness, especially in regions such as Africa and South America? GUTNER: Well, that's something that's being widely discussed right now, because Chinese institutions haven't been as comfortable about that, or as used to that. And they're—you know, they're being pushed by other institutions. Hey, you have to take a haircut too. We all have to—we all have to do that. There is a little bit of that going on. But it's something—I mean, if you read the article suggested in the email about this talk by Deborah Brautigam, she really unpacks that in great detail. And she makes an argument that there's some kind of learning and give and take that's happening and we need to see more of it. FASKIANOS: Fantastic. Next question from Lindsey McCormack, who's a graduate student at CUNY Baruch College: There's a lot of activity in the U.S. and Europe with new disclosure standards on climate and social impacts of corporations. How do the multilateral development banks relate to this activity? Are they seeing more pressure to discuss—oh, sorry—disclose climate and social impacts of their lending? GUTNER: Yes. (Laughs.) Yes. Now, they already do a lot. They already have environmental and social safeguards. And they've all moved away from funding oil and gas, or mostly oil and some gas. So they're moving away from that. And they're all working together, actually—I mean, I think it's an important example of networking—of the network of MDBs—that they're all moving toward meeting—complying with the Paris Agreement and showing how they're doing that. Now, some of this is how they measure things, and how they label things, and how they account for things. So there's still some debate on whether they're doing enough. But there's, for sure, pressure from NGOs and others. And the banks are moving in that direction. And they're—they're proudly touting how their projects comply. A high percentage of their projects are complying with the Paris Agreement. But there's still some interesting criticism coming out. So, for example, there was a recent report by a German NGO that said the World Bank's private sector lending arm, the IFC—that the IFC was making loans for trade support where that money might go into oil and gas. But you can't tell, right? So they were calling for more transparency on how the IMF is—how the IFC is doing trade credits. So that's something that's very recent. You can look that up and read more about it. FASKIANOS: Just to follow on, how are the multilateral development banks structured? And how effective do you think they are? GUTNER: Structured in terms of what? I mean, I can talk generally in case—so they— FASKIANOS: Yeah, I think corporate structure. GUTNER: So they have—they all have board of governors, which are all the top relevant officials of their member states, typically the finance minister or the central bank head. And they meet once or twice a year. And they make the big decisions. So one thing that's important to realize is a lot of these countries are members of a lot of development bank—there's a lot of overlap in membership. And that's also a way to cross-fertilize ideas, and policies, and things like that. They all have boards of directors, which are more engaged with the day-to-day business. And the—voting is based on your shareholding in the development bank. And that is based broadly on your economic strength. So the economically stronger companies have—stronger countries have a larger share and more voting power. And then you have the presidents of these organizations that have an important leadership role. And then you have the staff. So that's basically the structure of these development banks. And meeting next week are the board of governors and the directors in Marrakech for the World Bank and IMF. And you can see how they engage with staff and how they help set the strategic tone for the institutions. FASKIANOS: Fantastic. And I just want to remind everybody to raise your hand if you want to ask a question. Everybody's a little bit shy today, or else Tammi's been so thorough that you have no questions. (Laughter.) But I have more questions. But first, I'm going to go to Don Habibi, who is a professor at the University of North Carolina Wilmington: With yesterday's stock market plunge and political instability in the U.S., how much concern should we have over the multitrillion-dollar national debt? GUTNER: So that's not an issue that directly impacts the international financial institutions, the IMF, and the World Bank, right now. I mean, the U.S. is the largest shareholder of both, and they both—or, the World Bank has a AAA credit rating. So it's not really—we might be concerned over national debt, but so far it's not having a big impact on the dollar. So far, it's not having a big impact on investment. So there's always kind of some concern, but it's not—it's not translating into anything that's making people nervous about how these organizations operate. But, you know, one place to look for an answer, I'll tell you this, is when the IMF does surveillance, it does—which are its reports on the economic health of individual member states. It does these surveillance reports even on the rich countries. It does them for everyone. So I would suggest you look for the latest article for surveillance report that the IMF has done on the United States, and see what it has to say about concerns about debt. FASKIANOS: Fantastic. You recently completed a book manuscript on the Asian Infrastructure Investment Bank. Some policymakers and scholars have argued it is a threat to the World Bank. Can you talk about if you agree with that or disagree? GUTNER: Oh, right. So I answered a little bit of that earlier, actually, which is: I don't think it's a threat because I think it's cut from the same cloth as these other development banks in terms of it has similar policies, it has similar governance rules. The World Bank—it's signed MOUs, memoranda of understanding, with all these other development banks. It cooperates with them. It cofinances projects with them. So I think the narrative of the AIIB being a threat is not correct. Could something change in the future? Who knows. But there has been a recent scandal at the AIIB. And we don't know how that will yet be resolved, where this past summer the Canadian director of communications resigned dramatically, suddenly, arguing that Communist Party committees were somehow involved in the work of the bank. And we—so, Canada froze its membership. So that's a bit of a scandal and a crisis at the AIIB. And Canada is doing its own report on what happened. So I kind of think we have to see what comes out of that report. If Canada decided to leave the AIIB, would it impact any other members? Too early to say. But so far, there's nothing directly threatening about its work. It's walked and talked and behaved like other development banks. It does have some differences. It has a nonresident board, which was seen as a cost-saving measure. You know, why have all these people sit around and cost a lot of money? But there are some civil society actors who think that that could produce less accountability. If the board is not there, you know, the bank has more kind of autonomy to do—more independence. So there are some differences. But so far, it's been just another member of the multilateral development bank system. FASKIANOS: Thank you. All right. We have more hands raised, which I'm very excited about. Tanisha Fazal, who is the Weinstein chair of international studies at University of Richmond: You mentioned the difficulties of collaboration between IMF and the World Bank. Can you please elaborate on what you see as the primary obstacles to collaboration between MDBs? GUTNER: Yes. I'm happy to talk about that. So that was the topic of my year—my Council on Foreign Relations fellowship at the International Monetary Fund's Independent Evaluation Office. And we were evaluating Bank-Fund collaboration. And I was part of the overall evaluation, which you can find online. And I also wrote a separate paper on the history of Bank-Fund collaboration. And I found it to be absolutely fascinating, because these two institutions were created together at the Bretton Woods Conference. And they're called the Bretton Woods twins. They're literally across the street from each other. There's an underground passage that connects the two. They interact all the time. They have a joint orchestra. I don't know if anybody knew that. (Laughs.) They used to share a library. So there's a lot of—if any two organizations should be able to work closely together, it's these two, right? This should be your best case, and yet they've struggled for their entire existence. And I think one of the obstacles is that over time their issues have overlapped. So an example of that is today, when the IMF is doing more on climate change, gender, and inequality, which traditionally is the work of the Bank. So their work has kind of—over time, given the issues facing the world, it's kind of naturally overlapped. And what I found that was very interesting is in over twenty-five different formal attempts the two institutions produced to collaborate with each other—memos and announcements by the heads of the institutions—for decades, what they meant by collaboration was turf delineation. Collaboration meant you stay out of my territory. (Laughs.) I don't think of that as collaboration. It's working together on a common objective, right? So that was what they meant by it, and for many years what they—what the solution was, that the institution that's not in charge of this issue should yield to the judgment of the other one—the yield to the judgment one. So I think turf overlap has been a problem. But even when they make an effort, often they have different incentives, they have different budget cycles, they have different—you know, it's just not that easy. And the IMF's latest strategy for collaboration has been when IMF staff encounter an issue that they don't have expertise in, they should leverage the expertise of the World Bank and other partners. Well, that, to me, sounds like one-way collaboration, which is an oxymoron, right? That if the IMF needs help, it should call the IMF and get help—I mean, call the World Bank and get help. But for the World Bank, they might be busy. (Laughs.) So those kinds of challenges persist. There have been times where they do create a truly collaborative effort, like the HIPC Initiative, or the FSAPs, or the PRSP—sorry for all the acronyms—but where they—where they have a shared work program and shared guidance and shared expectations. Those have tended to work better than big umbrella exhortations by the leaders saying: Collaborate! You know, do more collaboration. Those have tended to work better, but they also run into individual problems. So really, the upshot is, even though you would expect collaboration to be the easiest and make most sense between these two institutions, in fact, it's often been a struggle. And some people found, when I mentioned the IMF's resilience trust, that's something that would normally have been undertaken by the World Bank. So they have not—they have had challenges collaborating, and those continue. FASKIANOS: Thank you. And I need to correct the record, my apologies. So that question was from Tanisha Fazal, who is an associate professor of political science at the University of Minnesota. So the next question is from Sandra Joireman, who is the Weinstein chair of international studies at University of Richmond. So my apologies. So this this question is from Sandra: Some of the previous efforts to address the environmental impacts of certain projects were ineffective. Do you think new efforts to address the environment and climate challenge change will be better? If so, why? GUTNER: So I'm guessing you're referring to the World Bank? And, yes, there's a whole long history of the Bank addressing environmental issues. And it really started in the 1980s, when NGOs identified projects that had gone horribly wrong and caused enormous environmental degradation. Like the Polonoroeste highway in Brazil. It was a famous—infamous example. And the Narmada dam in India. These are infamous examples. But when you look over the years, there have been improvements to what kinds of things the Bank can lend money to, how strong the environmental and social safeguards are. So when I look at the whole history of the World Bank and environment, I basically see it is not a one-way trajectory, and as forward or backward. I see it as more zigzag steps, some forward steps, some backward steps, some forward steps, some backward steps. So overall, because climate change is becoming one—it's about to become a major part of the Bank's mission and vision. So before it was shared prosperity and poverty reduction, and now it's going to—if it's all approved next week—it will be shared prosperity, poverty reduction, and a livable planet. So climate change is kind of moving the front row and center. And that will make it harder for the Bank to fund projects that can be criticized. It will make it much more important that it follows these solid environmental and social framework rules. So I think it's a move in the right direction. But as I mentioned earlier, we're still seeing criticism from NGO about things slipping through the cracks, like trade finance, right? Or another area that's weak is the World Bank—the IFC and the World Bank will sometimes lend money to financial intermediaries. So it's like—it's like lending money to a local bank that then lends it out for something else. And there's been less oversight about how that money is on lent, and whether that can go for something that's damaging to climate change or the environment. So they're moving in the right direction. I think there's been progress. I think there's been backward steps and forward steps over the whole arc of the World Bank's efforts in this area. And I think there's still going to be some criticism as they address some of these areas where there's slippage. FASKIANOS: Thank you. I'm going to take the next question, a raised hand from Sheri Fink. So, Sheri, if you can say who you are and accept the unmute prompt. Q: Oh, I'm sorry. I think I pressed the wrong button. I didn't mean to raise my hand. Sorry about that. FASKIANOS: OK. No problem. All right. I will take the next question from Eric Muddiman, master's student at Norman Paterson School of International Affairs in Ottawa, Canada: In terms of mobilizing more private capital and development, there has been discussion on MDBs' role in mitigating risk. Private sector are not allowed to invest in BB/BBB ZIP code investments from a regulatory perspective. Are there concrete proposals advancements in these discussions? GUTNER: Yes. Do I know what they all are? No. It's kind of a live discussion. And I know, in the new World Bank—the latest version of the evolution roadmap, there's talk about creating, like, a lab—an innovation lab, or a private sector lab, to try to do more. Some of the banks have hubs in some areas where they—areas in the developing world where they might have better access to private sector actors. And they're trying to engage with private sector actors in conferences and find ways of discussing project ideas. So that's not as concrete as you like, perhaps, but there are efforts to think about this. And there was a seminar at the spring meetings with private sector actors who are also saying that they felt they could do more to engage colleagues and find ways to bring the private sector and public sector together. So there are initiatives, seminars, hubs, labs. You know, all of this stuff is kind of lively and happening right now. And I do think it will be interesting to see what, if anything, catches on. Because, as I mentioned earlier, this discussion has been going on even before 2015, but the turning billions into trillions discussion. And it just hasn't worked out that well, because of these issues like risk, right? Private sector actors may not want to involve in countries where the risk is too great and where countries don't have capacity, where they have weaker capacity. So there are many challenges in this area. And just a variety of activities and ideas being put forward to try to respond. FASKIANOS: Thank you. Next, a raised hand for Walton Brown. You can accept the unmute. There you go, Walton. Q: So I too—I didn't intend to hit anything. I'm so sorry. FASKIANOS: OK. That's OK. GUTNER: You can still ask a question. (Laughter.) FASKIANOS: That's OK! You can still ask a—exactly, Tammi. We can—we can still—we love hearing from you all. So, all right. Well, we will continue on— Q: And my phone is troubled. FASKIANOS: Phone is troubled. (Laughs.) No problem. That's just fine. OK, so I'm going to go next to—let's see, we've got several who don't have affiliations, but let me go to Holley Hansen: A lot of previous questions have focused on the World Bank or IMF operations. But going back to your original remarks, there also been discussion on how internal rules and procedures, such as voting, leave stakeholders out of the decision-making process. What major suggested reforms to internal decision-making do you think are viable? And what are the pros and cons of changing those rules? GUTNER: Well, the voting is part of internal decision-making. So the voting is part of that. And the real issue has been, how can—well, one of the real issues is shouldn't China have a greater stake? Shouldn't China have a higher stake? Because China is now the number-three largest stakeholder in the World Bank and the IMF, after the U.S., number one, and Japan, number two. But its stake, at around 6 percent, is really less than it should be if you follow the kind of formula they use to calculate a state's economic strength. It's been calculated that really it should be more like 12 percent, right? So part of the discussion is how to give developing countries, and especially China, more weight in governance through the—through the voting share. And that's an ongoing discussion. Right now, in today's kind of more tense political—global political environment, it's hard to imagine the U.S. supporting something like that at this juncture of time, although there have been reports that the managing director of the IMF is open to it. So I think this is going to be one of the issues that is discussed in Marrakesh next week, what to do with these voting shares? But they do adjust them every so often. So China did move up from having a lower ranking to now being number three in the IMF and World Bank. So it does happen over time. Internal decision-making is a whole complicated other kind of issue. And these development banks, you know, they all face internal decision-making challenges. They all face kind of common tensions. So one of them is how you balance authority between the country—people who work in the country and people who work on sectoral issues. So how do you—who should—who should have more decision-making authority, the country level or the sector level? There are decision-making issues and tensions between the public sector lending arms of these development banks and the private sector lending arms, because they have different incentives and different goals. So there have been challenges inside these development banks with kind of internal silos and where power and authority should be held. And it's hard to come up with what the right answer is. You know, there are pros and cons to giving more power to the country or more power to the sector. And in fact, these banks restructure from time to time. And if you look at kind of the history of the restructuring of some of the major development banks, they sort of move back and forth between where they think authority should be located. So these issue—it's a whole other can of worms than voting power on the board of directors. But it's important, because it can affect their performance. It can affect their performance and their ability to function effectively. FASKIANOS: Thank you. I'm going to take the last question. We have several quick questions from Fordham again. Let's see. There you go. Q: OK, thank you. So in the worst case scenario that the U.S. and China engage in conflict in Taiwan, how would the World Bank respond to the economic shocks of this in geographically vulnerable neighboring countries, such as Vietnam, Laos, and the Philippines? GUTNER: That's a tough question. Thank you for ending this with a really tough question. We're not supposed to say I don't know. (Laughs.) We're supposed to have—that's a tough one, because, again, China is number three at the World Bank. So if China—couldn't—most of the time voting doesn't happen. Most of the time, it's consensus. So it's hard to predict. I mean, you'd have to unpack a lot of different things there. You'd have to unpack what kind of—what would the World Bank normally do? Would it normally—would it affect development lending to neighboring countries? I mean, it's interesting to look at the case of Russia's invasion of Ukraine and how—what the response to that has been, because Russia's a member of all these institutions too. But the development banks mostly froze lending to Russia. Also, the AIIB did, because it had to comply—to comply with these sanctions. So Russia lending has been frozen. And these institutions are all giving money to Ukraine to help Ukraine rebuild. So there is kind of a situation that can be—that can be used to compare, to kind of get ideas about what might happen, right? And even at the AIIB, Russia is number three largest shareholder in the AIIB. It's China, India, and Russia. And the AIIB immediately froze lending to Russia. So we could—we could kind of play out different scenarios, but there's a lot of unknowns in that case. And I do think looking at the response of MDBs to Russia's invasion of Ukraine could provide some useful lessons. FASKIANOS: Tammi, we are at the end of our time. And I apologize that we couldn't get to all the questions. I wonder if you could just take a minute. You were awarded a CFR Fellowship for Tenured International Relations Scholars, which allowed you to work—be placed in a government office. So if you could just take a minute to talk about that experience and encourage other professors to apply. The deadline's coming up. It's the end of October. So it just would be great for you to just give us your— GUTNER: Absolutely, yes. All the professors in the audience, please apply for this, because it's a special, invaluable experience. When you're—when you're studying something, and you have the opportunity to be an insider for a year, I can't even tell you how much you learn. I learned being—and it's a two-way street. They benefit from the expertise of the scholars who are coming in because we bring a different perspective. We bring different analytical and methodological tools. And I just can't tell you how much I learned that I could never find out as an outsider, including the IMF-World Bank orchestra, or the—(laughs)—yeah, actually, maybe some outsiders know that. But really, to open up the black box of an organization and see firsthand about how things work internally, what the culture's like, how things get done, what happens in the hallways. I mean, all that stuff, all of those kinds of details really enhanced my scholarship and shaped my research direction, working on these issues of collaboration, for example. So if any of you are considering applying, please feel free to get in touch with me if you have any questions about the fellowship. I'd be happy to discuss it with you. FASKIANOS: Thank you. Thank you for that, and for your amazing insights into these issues. And to all of you for your great questions. You can follow Dr. Gutner on X, the app formerly known as Twitter, at @TGutner. And for the students on this call, CFR has paid internships. So to learn more about the internships you can go to—and also the fellowships—you can go to CFR.org/careers. Follow us at @CFR_Academic, and visit CFR.org, ForeignAffairs.com, and ThinkGlobalHealth.org for research and analysis on global issues. And the next Academic Webinar will take place on Wednesday, October 11, at 1:00 p.m. (EDT). Landry Signé, senior fellow at the Brookings Institution, will talk about Africa on the global stage. So, again, thank you to Tamar Gutner. And to all of you, have a great rest of your day. GUTNER: Thanks for having me. And thanks to everyone for attending. (END)

*Key news articles for today*The General Authority for the Suez Canal Economic Zone (SCZone) is on course to take out a 15-year, EGP30 billion loan from a syndicate of local banks to finance the infrastructure for a number of green hydrogen projects. Part of the loan will be paid in USD to finance imported components.The Asian Infrastructure Investment Bank is considering financing the winning consortium to develop and operate the second container terminal, “Tahya Masr 1,” in Damietta, at a value of USD100 million.The average daily production of the Zohr natural gas field in Egypt declined by about 11% YoY in FY2022/23, according to the CEO of Petrobel, an EGPC subsidiary. He pointed out plans to start production from well No. 20 in the field next October to compensate for the natural decrease and maintain production rates.The Administrative Capital for Urban Development, developer of the New Administrative Capital, plans to sell 5-10% of its shares on the EGX in 1H24.Eagle Hills, the real estate company owned by Mohamed Alabbar, started negotiations with the Sovereign Fund of Egypt to acquire a government-owned real estate company.MASR (FV: EGP5.24, OW) launched its latest project in Taj City called Origami, the first project by Minka since its acquisition by MASR. The project offers residential BUA of 0.4 million sqm.EGTS's court date for the 20.0 million sqm third phase Sahl Hasheesh land plot lawsuit is postponed to 23 December 2023.Three local steel companies, namely Al Gioshy Steel, El Marakby Steel, and El Garhy Steel, are interested in acquiring government-owned Delta Steel Mill Company. Brent, which has risen more than 30% since its March low, came close to surpassing USD95/bbl yesterday. Some crude grades are already trading above USD100/bbl.Misr Fertilizers Production Co- Mopco stated that it did not receive any selling offer from any shareholder. This came as a response to yesterday's news of the government's intention to sell 15% of its stake in Mopco to ADQ. MENA fertilizers firm Fertiglobe — a JV between Adnoc and the Sawiris-owned OCI — signed a non-binding MoU with Abu Dhabi Ports to explore opportunities for storing and shipping urea and ammonia at ports in Egypt and the UAE. The partnership also aims to enable Fertiglobe to ship and store green ammonia. EFID (FV: EGP22.80, OW) announced that it signed two medium-term loan agreements with seven-year maturity for Fancy Food acquisition. The first loan amounts to EGP190 million to finance 50% of the acquisition, while the second loan amounts to EGP200 million to finance the investment cost needed for the new subsidiary Edita Frozen for Food Industries (previously Fancy Food).SUGR announced in a release yesterday that it did not receive any stake sale offers, as a response to the news of the government's interest in selling 20-25% of its stake in the company. EFIH's digital cards subsidiary eCards and Dubai-based fintech firm Network International signed an agreement to expand smart banking card services in the Middle East and Africa. Reliance Lifes Sciences, an Indian company, is interested in acquiring a stake in PHAR, but no official offers have been submitted yet.A number of Gulf investors are interested in acquiring a stake in the distressed pharma distributor United Company of Pharmacists (UCP). The company is looking to find new sources of finance to solve a growing financial crisis at the firm caused by the accumulation of large amounts of debt.Mohamed Farid, Chairman of the Board of Directors of the Financial Regulatory Authority, said that the Authority has developed a time plan for insurance companies to implement the international standard IFRS17.

Today we are off to an undisclosed beautiful countryside in Italy and speaking with the founder and CEO of “The Passion MBA”, a global coaching company. Mr. Mustafa Ammar is a life coach who has coached hundreds of professionals around the world to find their dream careers and build their dream businesses, by applying his coaching methodology “The Passion Blueprint”. Mustafa is also the author of “Time to Move On” & the upcoming book “The Passion Project”. He has truly managed to cram several very diverse careers into one single life. Starting as a pharmacist out of a passion for chemistry, and then switching to become an international diplomat out of a passion for building bridges among different cultures and traveling the world.  This role led him to places such as Beijing China, Malawi, and the United Nations HQ. Switching career and industry once again to this time work as an investment specialist at The Asian Infrastructure Investment Bank, where he was in charge of business development and bringing investments to various regions including Africa, The Middle East & Latin America. Mustafa successfully brought in more than $1.1 billion worth of finance in infrastructure projects in the Middle East alone during his tenure. Somehow along the way, Mustafa has obtained his MBA, together with his master's degree in diplomatic studies & negotiations and BA in pharmaceutical sciences. During our conversation, we touched on some of the mentors Mustafa continues to work with. People such as Jack Canfield, the author of Chicken Soup for the Soul series, and Dr. Ivan Misner, founder of the world's largest networking and referral organization – BNI. I found Mustafa to be a true serial entrepreneur with an insatiable appetite for growth – his own and his clients. Visit our website to access the episode notes, guest links, and full transcript - Coaching 4 Companies

With over a decade of existence, the Blavatnik School of Government at the University of Oxford is championing a world that is better led, better served, and better governed through its programs and centers that educate experts in public policy and governance to tackle the world's most pressing issues. In ten years, the institution has grown from a vision to a cutting-edge institution that advances practical skills and hands-on experience for its students through the incorporation of simulations, internships, and experiential learning. Students leave the school with the tools and knowledge to enact change in policy and governance.In this episode of Oxford Policy Pod, host Wantoe T Wantoe speaks with Professor Ngaire Woods, the founding Dean of the Blavatnik School of Government at Oxford University and a Professor of Global Economic Governance. Together, they discuss the Blavatnik School's achievements over the past decade and its impact on shaping global leaders.Professor Ngaire Woods is renowned for her research on enhancing the governance of organizations, grappling with the challenges of globalization and global development, and the role of international institutions and global economic governance. She established the Global Economic Governance Programme at Oxford University and co-founded the Oxford-Princeton Global Leaders Fellowship program with Robert O. Keohane. Professor Woods also played a key role in the creation of the Blavatnik School of Government.In addition to her academic work, Professor Woods serves as a member of the International Advisory Panel of the Asian Infrastructure Investment Bank, a Non-Executive Director at Rio Tinto, and a trustee for the Mo Ibrahim Foundation and the Stephen A. Schwarzman Education Foundation.This episode was created by Wantoe T. Wantoe a current master of public policy student and supported by the Oxford Policy Pod Team.

Four ridings held by-elections yesterday, in which the Conservatives and Liberals each held onto their two seats. Even so, the Conservatives had a tougher fight than usual to win the southwestern Ontario riding of Oxford, while the People's Party of Canada and its leader Maxime Bernier failed to live up to their 2021 performance in Portage–Lisgar in rural Manitoba. True North's Andrew Lawton breaks down the results and what they mean for the Conservatives and the PPC moving forward. Also, Canada is reassessing its relationship with the Asian Infrastructure Investment Bank after a Canadian staffer from the bank resigned citing rampant Chinese Communist Party influence. Former finance minister Joe Oliver joins to discuss why Canada should have stayed out of the AIIB in the first place. Learn more about your ad choices. Visit megaphone.fm/adchoices

One of the many affirmations that my guest, "career shapeshifter" and author, Mustafa Ammar uses is "you can only get what you want by having a vision." He adds, "concentrate on yourself." He got to know his own insecurities and didn't compare hhimself to anyone else and found that it was easier to be happy that way.Originally from Egypt and has lived in dozens of countries around the world, Mustafa is the author of "Time To Move On-the 7 Career Myths and What to Do About It."He's learned from experience. My guest has had a number of different career opportunities throughout his life-including everything from a pharmacist, diplomat, investment banker and more.He acknowledges all that his mom did for him throughout his life and is joining us for this conversation from Italy.Mustafa  shares  poignant stories of how his mother helped him get stronger by facing his adversities and explaining how she stood by him through all of his career transitions.Speaking seven languages has helped Mustafa throughout all of his different career choices, including years as a chemist, Egyptian Diplomat, working in banking and completing his MBA and becoming an author and starting his own business.Najat has played a crucial role in her son's  life. As in the Muslim culture, mothers play a significant role in the family. And Mustafa has always respected and adored his mother. He sees so many genuine similarities in their personalities and he's very proud to be her eldest son.When Najat was six years old, her father died. When Najat was sixteen, her mother died and she was left to raise her four younger brothers. She did have help from her grandmother but Najat went left school to work in a factory until her brothers were older and married. "She was the salvation of everybody around her," explains Mustafa. "She always had a smile on her face. She was kindhearted and she loves to hug." BOOK: Time To Move On, the 7 Career Myths and What To Do About It https://thepassionmba.comhttps://mustafaammar.com › .Social Media:Facebook, Twitter, Instagram and LinkedIn

Today, we're looking at Canada's population hitting a new high: 40 million people. Plus, Prime Minister Justin Trudeau is taking on Facebook's parent company, Meta, over his plan to force social media companies to pay news outlets. And finally, keeping with the Trudeau Liberals, the federal government has halted all activity with the Chinese Communist-led Asian Infrastructure Investment Bank.

The company that runs Facebook, Meta, is disputing Alberta Premier Danielle Smith's claims that she was blocked from posting on Facebook. Experts are wondering why the Trudeau government didn't pull out of the China-led Asian Infrastructure Investment Bank sooner. And Canadians are not happy with the current approach governments are taking to address the rising issues of crime and addiction. These stories and more on The Daily Brief with Rachel Emmanuel and Andrew Lawton! Learn more about your ad choices. Visit megaphone.fm/adchoices

The Public Safety Minister faces more calls for his resignation over the Paul Bernardo prison transfer; Alberta is giving a thumbs-down to the federal government's plan to protect workers during the transition to net zero; And more on Canada's decision to freeze government ties with the Asian Infrastructure Investment Bank.

Host Alex Pierson speaks with Tom Korski, Managing Editor of Blacklocks Reporter, about Paul Bernardo and how Cabinet is handling the case, Privy Council President Bill Blair says how he never saw a secret memo warning because it was sent to the ''wrong office'', Canada's spending involvement with the Asian Infrastructure Investment Bank after a high-ranking executive left the organization saying it was a ''toxic culture'', Cabinet having no choice but to spend billions on a Volkswagon battery plant in Ontario, Finance Minister Chrystia Freeland said yesterday. All this and more! Learn more about your ad choices. Visit megaphone.fm/adchoices

Blickt man auf die Weltkarte, so ist die neue Seidenstraße ein weit verzweigtes Netz aus Handelsrouten, das China mit Asien, Afrika und Europa verbindet. Für den chinesischen Staatschef Xi Jinping ist sie zugleich der zentrale Weg, um sein Land dauerhaft an die Spitze der Weltwirtschaft zu führen. Dabei macht er nicht nur Tempo, sondern legt den Fokus auch auf die digitale Infrastruktur des Handelsnetzes.Innerhalb von zehn Jahren hat die chinesische Seidenstraßen-Initiative die Weltwirtschaft entscheidend geprägt: Häfen, Bahnlinien und Container-Umschlagplätze sind klar sichtbare Resultate. Die digitale Seidenstraße hingegen wird erst auf den zweiten Blick deutlich - trotz ihrer Bedeutung: Denn digitale Infrastruktur soll die Transportwege überziehen und die Knotenpunkte auf den bestehenden Routen noch effizienter machen. Das könnte wegweisend sein im internationalen Wettbewerb.Der Wirtschaftswissenschaftler Rolf Langhammer hat die digitale Seidenstraße am Kiel Institut für Weltwirtschaft genau im Blick: "Das Land möchte den Welthandel mit dieser Initiative papierlos machen", erklärt er im Podcast "Wirtschaft Welt & Weit": "Die Abwicklung von Dokumenten und Akkreditiven könnte man in eine Blockchain packen, die im Rahmen von Smart Contracts auch eine Finanztransaktion auslöst, wenn ein Produkt beispielsweise in einem Hafen angekommen ist."Wenn chinesische Unternehmen aus IT und Finanzbranche bei der Digitalisierung der Seidenstraße zusammenarbeiten, dann könnte laut Langhammer eine neue Softwarekompetenz entstehen, die es so noch nicht gibt. Eine Entwicklung, der europäische Beobachter durchaus mit Misstrauen begegnen. So sehen Kritiker erhebliche Lücken im chinesischen Datenschutz. Sie befürchten, dass chinesische Kooperationen zu "chinesischen Standards" führen, die nicht mit europäischen Datenschutzregelungen mithalten können. Neben Fragen zur Datensicherheit auf chinesischen Servern stehen auch Umweltkriterien im Fokus, denn die Kühlung riesiger Datenmengen ist sehr energieintensiv und geht mit einem hohen CO2-Fußabdruck einher.Ludger Schuknecht, Vizepräsident der Asian Infrastructure Investment Bank, gibt sich optimistischer: "Das Einhalten von Standards ist das Entscheidende", sagt Schuknecht aus der Perspektive einer multilateralen Entwicklungsbank. Klare internationale Regelungen seien für beide Seiten von Vorteil - egal ob beim Datenschutz oder im Straßenbau. Schuknecht glaubt, dass die Chinesen aus Anfangsfehlern der Seidenstraßen-Initiative gelernt hätten: So lege das Land etwa mehr Wert darauf als vor zehn Jahren, dass sich weniger finanzstarke ausländische Partner bei Projekten nicht überschuldeten. Schon aus Eigeninteresse achte China heute mehr auf internationale Standards.Ob das ausreicht, stellen Kritiker infrage. Wie entgegenkommend China beim Ausbau der digitalen Seidenstraße sein wird, bleibt für auch für Rolf Langhammer fraglich. Denn er bemängelt ja gerade, dass es noch keinen internationalen Standard für Cybersecurity gibt: "Wir bewegen uns in unkartiertem Gelände", konstatiert der Ökonom. China, so seine Befürchtungen, könnte genau diese Lücke ausnutzen. Top-Informatiker habe das Land reichlich, genug Geld ebenfalls. Für ihn hat China die besten Voraussetzungen, um auch auf der digitalen Seidenstraße schneller unterwegs zu sein als andere Länder - auch als Europa.Schreiben Sie Ihre Fragen, Kritik und Anmerkungen an www@n-tv.deUnsere allgemeinen Datenschutzrichtlinien finden Sie unter https://datenschutz.ad-alliance.de/podcast.htmlUnsere allgemeinen Datenschutzrichtlinien finden Sie unter https://art19.com/privacy. Die Datenschutzrichtlinien für Kalifornien sind unter https://art19.com/privacy#do-not-sell-my-info abrufbar.

In his address to the IIEA, Gabriel Makhlouf, Governor of the Central Bank of Ireland, spoke about the path for monetary policy in the euro area in 2023 and beyond. He highlighted the range of incoming data that plays an important role for near term developments, as part of the ‘meeting-by-meeting' approach to interest rate decisions. Governor Makhlouf then outlined his thoughts on some more medium-term factors that could influence inflation and monetary policy beyond 2023. About the Speaker: Gabriel Makhlouf took up his position as Governor of the Central Bank of Ireland on 1 September 2019. He chairs the Central Bank Commission, is a member of the Governing Council of the European Central Bank, a member of the European Systemic Risk Board, and is Ireland's Alternate Governor at the International Monetary Fund. Before joining the Central Bank, Governor Makhlouf was Secretary to the New Zealand Treasury and the Government's chief economic and financial adviser from 2011 to 2019. During his time as Secretary, he led reviews of New Zealand's three macroeconomic pillars (monetary, financial stability and fiscal policy) and the development of a new framework for the development of economic and public policy focused on intergenerational wellbeing. In addition, Governor Makhlouf was New Zealand's Alternate Governor at the World Bank, the Asian Infrastructure Investment Bank, the Asian Development Bank and the European Bank for Reconstruction and Development. He was also co-chair of the Trans-Tasman Banking Council.

The Bank of England says the future of the UK economy looks bleak, with a recession guaranteed and half a million jobs likely to be lost. Amidst the doom and gloom, we ask University of Cambridge economist Diane Coyle what the government could do now to improve the situation. Former Chief Secretary to the Treasury, Danny Alexander, now at the Asian Infrastructure Investment Bank, tells us that austerity will be tougher now than in 2010. Plus: no pre-Christmas election in Northern Ireland. Bloomberg's Stephen Carroll and Yuan Potts get reaction from Alliance Party deputy leader, Stephen Farry.See omnystudio.com/listener for privacy information.

Danny Alexander, former Chief Secretary to the UK Treasury and central to austerity policies in 2010, says the Sunak government will have an even more difficult job balancing the public finances now. Alexander, who is now Vice-President of the Asian Infrastructure Investment Bank, tells Bloomberg's Caroline Hepker the multilateral institution is not beholden to any one member country, adding that the AIIB is committed to funding the energy transition.See omnystudio.com/listener for privacy information.

China has been actively involved on the international platform over past decade, establishing itself as a major player in global development. It has dutifully participated in the affairs of multinational organizations, such as the UN, the IMF and the World Bank. It also initiated the Asian Infrastructure Investment Bank, the Belt and Road Initiative and a few other global governance mechanisms. How effective have China's efforts been on the global stage during this period? Host Liu Kun is joined by Dr. Lee Pei May, Assistant Professor of Political Science at the International Islamic University Malaysia; Hamzah Rifaat Hussain, former visiting fellow at the Stimson Center; Wang Yiwei, Jean Monnet Chair Professor at the School of International Relations, Renmin University of China.

Remittances from Egyptians abroad fell 15% y-o-y and m-o-m in July to USD2.38 bn, from USD 2.8 bn.Egypt wants to attract USD7.7-8 bn in foreign investment into the oil and gas sector in the current fiscal year.Fees for most vessels crossing the Suez Canal will rise 15% starting 1 January 2023, except for dry bulk ships and cruise ships which will witness a 10% hike instead. The expected increase in revenue is USD600 million from the higher fees.The Ministry of Finance received the applications of 1.4k companies wishing to join the fifth phase of the “immediate reimbursement of export subsidies” initiative.The Qatar Investment Authority is interested to invest in the Egyptian tourism sector, and the hospitality sector in Egypt, whether in existing hotels, or through new investments.The Asian Infrastructure Investment Bank is considering lending the Abu Qir-Alexandria metro project, about EUR250 million.The government wants to attract private sector investment to state-owned Heliopolis Hospital under a wider plan to open up the healthcare sector to private sector players.EFIC stated in an EGX release that the new cabinet decisions of raising natural gas cost won't have a material impact on the company since it produces phosphate fertilizers and not nitrogenous fertilizers. BINV highlighted that it is not in a position to respond to Adnoc offer for Total Energies Egypt on the 15th of September due to unresolved legal issues related to the validity of the transfer notice from current owner TotalEnergies Marketing Afrique (TEMA).Some Active Pharma Ingredients (APIs) utilized in the production of medicine will be exempted from VAT, as per Customs Authority decision.AstraZeneca Egypt plans to invest USD30 million in the local market over the next three years.

Kia ora,Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the International edition from Interest.co.nz.Today we lead with news the drive to 'fix farming', especially livestock farming, might be igniting a new and potentially dangerous round of food price increases, dangerous especially for the poor.But first, the western-backed Asian Development Bank has been funding projects in China, even though China has built its own 'development bank', the Asian Infrastructure Investment Bank which has delivered funding for emerging economies along its Belt & Road projects, in its own interests. The ADB plans to provide China with up to US$7.5 bln in financing from 2021 to 2025, down from US$9 bln between 2016 and 2020. But now the ADB is saying time is up on these projects and is moving to end what has become a charade by China. China's Belt & Road projects now top US$1 bln in 'investment'.China is claiming a big increase in foreign investment in July. But there are reasons to be sceptical. Markets are. They expect a -10 bps trimming of both their 1yr and 5yr Prime Loan Rates when they are reviewed later today. It says a lot if China is cutting rates while the rest of the world is raising them. The Chinese Government 10yr bond yield is near its 20 year low (excepting the brief pandemic low).Also low is the flow in the Yangtze River and that is now critical. It seems it will be at least a month yet before any relief is likely. The implications for some regions and cities are rather grim.Japan's inflation rate rose to 2.6% in July from 2.4% in the prior month. This was the 11th straight month of increase in consumer prices and the fastest pace since April 2014, amid surging fuel and food cost following Russia's invasion of Ukraine, as well as a sharply weakening yen.In the US, in the heart of their summer holidays, all eyes are turning to the central bank shindig at Jackson Hole, WY, and especially the Powell speech upcoming on Sunday August 29 NZT. It is likely that a contingent from our RBNZ will be there, but no word yet on who.The US dollar has resumed its rally and yields on US Treasury bonds have risen as markets come to realise they can't beat the Fed and that interest rates will keep on rising until inflation is beaten - even if that means enduring a recession. This makes the Powell signals all that more interesting.It does raise the question of whether any sort of 'soft landing' can be achieved through this process.Across the US and Canada, assessors are out this coming week looking at the corn and soybean crops. Yield is the one thing satellite imagery can't assess, so the results of these annual 'tours' are crucial in working out how much grain is about to come to market.North of the border, Canadian retail sales fell by -2% in July from June, preliminary estimates showed. That is a back-track from June, when retail sales rose +1.1% from May, and May was upwardly revised.In Australia we should note that at the end of last week, energy from renewables were the largest feed into their electricity networks nationwide, for the first time ever.We should also note that cattle prices have hit all-time highs in New Zealand recently. Not only are schedule prices up (especially in the South Island), but saleyard prices are too. However some saleyard activity will be constrained by wet weather, which may boost prices further. What is unusual is that this record is coming three months earlier than the usual October seasonal rise. Lamb prices are rising too, and out of season as well, but they aren't yet at record levels even if very close.Meanwhile, carbon prices are on the rise again, after having flatlined for the past six months. At NZ$85.50/NZU they are matching their February 2022 high. The EU carbon price is also rising again, up to €96/tonne (NZ$155) and also matching their February 2022 high. It is hard to escape the sense that these prices are just getting started. One consequence will be that livestock and grain prices are about to follow them sharply higher as land is converted from food production to 'forests'. Only the wealthy will be able to keep up, sadly.And speaking or carbon taxes, Indonesia has confirmed it will impose these on its nickel exports soon, almost certainly before the end of 2022 and probably announced at the upcoming G20 meeting to be held there in Bali (which is also the epicenter of their FMD outbreak). Indonesia is home to almost a quarter of global nickel reserves, and the metal is one of its major exports, along with coal and palm oil.The UST 10yr yield starts today at 2.97% and up +9 bps from this time on Friday and up +15 bps from this time last week. The price of gold will open today at US$1748/oz which is up +US$3/oz from this time Saturday but down -US$54 for the week.And oil prices start today at just on US$89.50/bbl in the US, while the international Brent price is now just under US$95.50/bbl. These levels are little-changed.The Kiwi dollar will open today at 61.7 USc which is almost -1c lower than this time on Friday. A week ago it was at 64.5, so a weekly devaluation of -4.3%. Against the Australian dollar we are also lower at 89.8 AUc. Against the euro we have fallen to 61.5 euro cents and also a -½c drop. That all means our TWI-5 starts today at 70.8.The bitcoin price is now at US$21,446 and very little-changed from this time Saturday. A week ago it was US$24,076, so an -11% fall from then. Volatility over the past 24 hours has been modest at just on +/- 1.9%.You can find links to the articles mentioned today in our show notes.And get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston and we'll do this again tomorrow.

Lo scorso lunedì il governo ha approvato un decreto legge dal valore pari a 14 miliardi di euro. Di questi fondi, circa 6 miliardi, provengono dalla tassazione degli extraprofitti delle aziende energetiche che sale dal 10% al 25%. Già quando era stata annunciata la prima parte della tassazione, le aziende interessate avevano minacciato ricorsi, che puntualmente stanno arrivando. Facciamo il punto con Gianni Trovati, del Sole 24 Ore Von der Leyen annuncia lo stop Ue al petrolio russo entro 6 mesi La presidente della Commissione europea Ursula von der Leyen ha annunciato il sesto pacchetto di sanzioni economiche contro la Russia sulla scia dell'invasione dell'Ucraina rispecchia le attese dei giorni scorsi. L'aspetto più interessante riguarda l'embargo al petrolio russo da attuare in sei mesi. Ne parliamo con Adriana Cerretelli La Cina potrebbe cambiare rotta nei confronti della Russia. E la Germania apre al ritiro delle sanzioni Le quattro principali banche cinesi (Bank of China, ICBC, New Development Bank, Asian Infrastructure Investment Bank), come certifica l'osservatorio della School of management di Yale, hanno ridotto l'accesso russo ai mercati dei capitali finanziari. Sempre in questi giorni UnionPay, la rete di servizi finanziari diretta dalla Banca centrale di Pechino, dopo attenta valutazione ha lasciato cadere la richiesta di aumentare la sua presenza sul mercato russo, per evitare il rischio di incorrere in «sanzioni secondarie» occidentali. Pechino finora ha avuto un approccio piuttosto compiacente nei confronti della Russia e questa misura potrebbe essere il preludio di un'inversione di rotta. Ce lo spiega Alessandro Plateroti, direttore di Notizie.it

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Qatar plans to invest some USD 5 bn in Egypt, in addition to the USD 2 bn that Abu Dhabi's ADQ has pledged; Egypt might get USD 3 bn from the Saudi Public Investment Fund and USD 2 bn from KuwaitHouse of Representatives approved two financing agreements with the International Bank for Reconstruction and Development, and the Asian Infrastructure Investment Bank worth USD720 millionSuez Canal Authority recorded revenues of USD1.6 billion during January-March 2022, +18.5% YoYTurkey and Israel are in discussions to build a gas pipeline running between their two countries, which would pose competition to Egypt Gas Hub. This is why Egypt and Greece are considering establishing a new subsea pipeline that would allow Egypt to export gas directly to Europe.The usage of Mazut in electricity generation stations has gone up from 3% of the energy mix to about 12%; Volume of natural gas consumption reached 47 million tons in FY20/21, of which the electricity sector accounted for 60%, the industrial sector 12%, and the household sector 6%The House of Representatives has approved a law that expedites public sector wage hikes and pension increases, who will receive an 8% raise on their gross monthly salaries at the beginning of April MTIE reported weak but expected net attributable profit came in at EGP40 million in 4Q21 (-42.9% YoY, -54.0% QoQ), and EGP368 million in 2021 (+0.5% YoY); Muted revenue growth (+3.7% YoY),  Flat GPM (+0.2pps YoY), and booked provisions were the reasons; MTIE is currently trading at 2022 P/E of 9.6x and EV/EBITDA of 6.2x Finance Ministry will launch its e-receipt system for B2C transactions this Friday, 1 April (EFIH)IDHC opens a new Al Borg Scan branch in Sheikh Zayed, to reach a total of three new branches in the past six monthsCar brands' agents (importers and assemblers) will be the ones to determine the consumer selling prices for passenger cars (thus fixing the distributor margins) and car dealerships are not allowed to change these prices. The decision is effective today. The "Go Green" initiative to replace old cars with new dual-fuel ones is still offering cars at the old prices declared in 2021, but producers have the right to request a rise in those prices. This came as many producers placed a halt on the booking with the initiative until a new fair price has been decided. DOMT hiked its selling prices by 10-20% due to the rise in raw materials costs and EGP depreciationPRDC reported a net profit of EGP359.0 million in 4M2021 GDWA recorded earnings attributable to shareholders of EGP104.5 million in 4M2021Arab Moltaqa for Investments has signed a syndicated loan with ATLC that is worth EGP60 mn aiming to support the company's capital baseA Cairo court has upheld AIH's appeal in its years-long EUR150 mn lawsuit against Peugeot

A China-led development bank has suspended all business with Russia and Belarus, a sign of the limits of Beijing's support for Moscow as it faces sanctions and censures over its war in Ukraine. The Asian Infrastructure Investment Bank says it had put all activities related to the two countries on hold in light of the evolving economic and financial situation. The bank however did not elaborate on the reason for its decision but extended its thoughts and sympathy to everyone affected. The announcement comes after several Chinese state-owned financial institutions, including the Bank of China, ceased financing for deals involving Russian oil and firms.

Domenico Nardelli, treasurer at the Asian Infrastructure Investment Bank, joins Marcin Stepan, managing director of OMFIF's Sovereign Debt Institute, to discuss the borrowing landscape in Asia. In the current potentially volatile environment, with risks of raising rates challenging market conditions, they discuss the AIIB's issuance ambitions and strategies. They reflect on the growth of the green, social and sustainable bond market and take a look at some important developments for 2022.

China's growing influence in America and around the world is at the point of alarm, and it doesn't help that we have a president whose reputation is feckless and weak and whose son is too-close-for-comfort with the communist regime. The One Belt, One Road Initiative, also called the Belt and Road Initiative, along with the Asian Infrastructure Investment Bank, are rapidly opening doors for China to spread its anti-freedom messages, influences and controls in dozens of countries. Jack Brewer, former NFL player and the chairman of the America First Policy Institute's Center for Opportunity, speaks about the Olympics, the AFPI's China Policy Initiative, and the danger of allowing a godless country to spread its atheist, communist influences around the world.

Is China a rising financial superpower with a currency, the yuan, on course to become a dominant world reserve currency at the expense of the US dollar? This episode will examine the evidence on many sides, looking at the latest research by DICK BOVE of Odeon Capital Group, and at a mountain of other evidence and statistics. MAT VAN ALSTYNE, Odeon co-founder, will offer a fresh perspective on how this complex geo-political and economic game could change the course of history. Your host is journalist, JOHN AIDAN BYRNE "There is no question as to what the Chinese want to accomplish," writes BOVE. "It has publicly stated its intentions and it has been supported in its efforts by the Russians and other countries in its political orbit. This raises the question as to what American financial companies can do for China." China is seen as the most influential economic power in Southeast Asia, according to a new poll, although there's caution over Beijing's territorial positions over the South China Sea. A survey of 1,677 Southeast Asians by the ISEAS-Yusof Ishak Institute showed 76.7% regard China as the most influential economic power in the region, followed by the U.S. at a distant 9.8%. Washington trailing in second place comes after the Biden administration finally unveiled its strategy to engage with Asia last week. Half of those with a positive view of China however say that perception could be negatively impacted if Beijing continues to expand its influence in their country. Source: Bloomberg Catalogue of modern developments in China's economic evolution & development, compiled by DICK BOVE: · The country joined the World Trade Organization · It obtained the IMF approval for the yuan to be considered a global reserve currency. · It established the Asian Infrastructure Investment Bank as an IMF/World Bank alternative. · China has developed its own cryptocurrency and forced other similar currencies out of the country. · It has loaned an estimated $5.6 trillion to 165 countries o An estimated 42 of these countries owe more than 10% of their GDP to China o The total amount owed relative to global output is not known but has been guesstimated to be 6% of total world output. o The United States owes China over $1.1 trillion. · China has structured trade deals with multiple countries where the only currency used is the yuan o Russia o Iran o North Korea · The country's banks are the largest in the world. o They are funded with yuan o They have developed investment banking skills learned from the Americans. China has exerted increased political control over companies that are supposedly owned by public investors.

Plans were already afoot. The country got some hints about it a month ago, when reports on the proposed formation of management trust by Mukesh Ambani surfaced. Now, Asia's richest man has finally announced a leadership transition at Reliance Industries, saying “all seniors should yield to the highly-competent and extremely committed young leadership talent”. Ambani's three children -- twins Akash and Isha, and Anant -- are already part of the company, playing different roles.  During his address, Ambani said that Reliance has completely re-engineered its energy business despite the pandemic. Let us see what experts think about post-pandemic economic recovery. The Asian Infrastructure Investment Bank recently came out with global value chain ratings across various economies. Erik Berglöf, chief economist of the bank, speaks to Business Standard's Jyoti Mukul about the economic recovery and how sustainability is the most important step in that direction.  This year also saw companies defying odds to rise above the rest. New-age companies, including Paytm, Zomato, and Nykaa cornered nearly 40 per cent of the funds raised during 2021 via public offers. However, corrections in their stock prices drove valuations below the levels sought during private funding rounds. What led to this divergence in private and public market reaction? And how should we interpret the changes by Sebi regarding the lock-in period for anchor investors in an IPO?  Apart from tightening the IPO framework, the government is also busy finalizing the contours of 5G roll out in selected cities in 2022. Telecom service providers are currently testing 5G in several pockets of the country. Recently, Vodafone Idea Limited claimed to have hit a speed of 1.5 gigabits per second (GBPS) as part of its ongoing 5G trials in Pune and Gandhinagar. But the contention over the allotment of crucial millimeter-wave spectrum remains unaddressed. Let us find out what it is and more in this episode of the podcast. Watch video

Under its ambitious president, the five-year-old Asian Infrastructure Investment Bank has developed into an outfit with its own distinct personality and ambitions. Jin Liqun sits down with Euromoney to discuss climate financing, private-sector capital and why a post-Covid ‘normal' is least two years away.

Ludger Schuknecht, vice-president and corporate secretary of the Asian Infrastructure Investment Bank, and Dennis Shen, Dennis Shen, a director of sovereign ratings at Scope Ratings, join John Orchard, chief executive officer of OMFIF, to discuss sovereign debt sustainability in both developed and developing economies. Their conversation focuses on the fiscal response to Covid-19, the debt ratio problem and its potential solution, the readiness of some countries to end their quantitative easing programmes and the best measures to keep in place to maintain fiscal sustainability.  

On this edition of Fixed Income in 15, Joe Cass is joined by Sir Danny Alexander, Vice President and Corporate Secretary at the Asian Infrastructure Investment Bank and Susan Gray, our Global Head of Sustainable Finance Business and Innovation. Topics included the evolution of sustainable finance in infrastructure and platforms issuers are using to ensure their ESG strategy is being heard. There was also some off-topic discussion on politics, with Danny talking about his time as the Chief Secretary to the Treasury in the UK and Susan describing her experiences as a policy advisor in the Australian government.

In conversation with Mustafa Ammar, author and coach. He has enjoyed success in different and fascinating fields including pharmacy, global diplomacy (ten years as a diplomat in China, in Malawi, and at the United Nations) and multinational infrastructure banking (developing business as an Operations Investment Specialist in the Asian Infrastructure Investment Bank). He is also the founder of The Passion MBA (https://thepassionmba.com) Listen to him talk about book publishing and marketing & how he uses a structured plan for his writing process on my website: https://www.jasveersinghdangi.com/podcast-1 Spotify - https://open.spotify.com/show/2N7uR5nBLtfliMppBukd9U Anchor - https://anchor.fm/jasveer-singh-dangi Google Podcast - https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy80NjZlYTAzYy9wb2RjYXN0L3Jzcw== Reach out to Mustafa on https://thepassionmba.com/author/mustafaammar101gmail-com/ His first book is coming up shortly: The Passion Project: Rebuild Your Career, Live a Regret-Free Life & Find Your Life Purpose Audio source - Wondershare Filmora (Track - Sand: Takes me to the lake) Jasveer is an Author, Behavioral trainer, award -winning Health and Safety professional & Founder of The Cog Publication LLP, India. He is currently based in Canada. His Amazon Author Central profile is - https://www.amazon.com/~/e/B07M6KS48Q , www.jasveersinghdangi.com #jasveersinghdangi #author #podcast #blog #blogger #youtuber #amazon #amazoncanada #mustafaammar #socialmedia #socialmediainfluencer #canada #toronto #vancouver #mississauga #authorinterview #amazon #book #author #spotify #googlepodcast #anthology #contentwriter #happiness #bookwriting #writing #corporatetrainer #motivationalspeaker #coach #podcastuk #thepassionmba

ICMA’s Mushtaq Kapasi speaks to Sir Danny Alexander, Vice President and Corporate Secretary of the Asian Infrastructure Investment Bank about the AIIB's mission and strategy to develop sustainable infrastructure in Asia. Sir Danny discusses in particular the AIIB’s Climate Change Investment Framework and COVID-19 Crisis Recovery Facility, along with other innovations in the sustainable capital markets.

As the Asian Infrastructure Investment Bank celebrates its fifth anniversary of operation this week, the multilateral development bank is rethinking its strategy. From financing traditional infrastructure to those that are green and human-centered, the bank has also been active in making the best use of technology.

Today we sit with Sebastian Mallaby, a successful author and esteemed Senior Fellow for International Economics at the Council of Foreign Relations. He has also been a contributing columnist for The Washington Post and previously served on the editorial board. To open the show, we put Sebastian's career into a nutshell before asking him to expand on his background. He tells us about some of his earliest memories as a young roving correspondent in Africa, cutting his teeth in journalism for The Economist. We go on to talk to Sebastian about the World Bank and discover facts about its inception and the evolution of its role since 1944. He discusses some of the World Bank's constraints before turning his attention to former president of the World Bank, Jim Wolfensohn. Listeners will learn about the life and times of Jim as a human being and as a global leader. Dissecting Jim's achievements, Sebastian analyses Jim's structural adjustment programs and comments on the American-Australian's charisma and knack for communication. In the latter half of the show, we talk about the benefits of the Ease of Doing Business Index and find out Sebastian's stance on the matter. We continue our conversation and hear from Sebastian on how the world has changed since he published his book in 2004, as he contrasts between the classical left-vs.-right and modern populist-vs.-technocratic divisions. To find out more from Sebastian, his thoughts on Jim Wolfensohn, and the position of the World Bank, be sure to join us today. Key Points From This Episode: ●     Introducing today's guest, Sebastian Mallaby. ●     We take a look at some of Sebastian's career highlights before we begin. ●     Sebastian reminisces when he covered Nelson Mandela's 1990 release for The Economist. ●     Hear about the motives behind establishing the World Bank's. ●     Sebastian elaborates on the constraints of the World Bank. ●     Hear about Jim Wolfensohn's private and public life. ●     Sebastian's answers to: Is the World Bank due for a shakeup? ●     Hear Sebastian's thoughts on the Ease of Doing Business Index and its efficacy. ●     We cover the changes since Sebastian published his book in 2004. ●     Sebastian's opinion on Charter Cities, and whether or not it has changed. Links Mentioned in Today's Episode: https://twitter.com/scmallaby?lang=en (Sebastian Mallaby on Twitter) https://www.linkedin.com/in/sebastian-mallaby-13a24936/?originalSubdomain=uk (Sebastian Mallaby on LinkedIn) https://www.britannica.com/biography/James-Wolfensohn (Jim Wolfensohn) https://www.worldbank.org/ (The World Bank) https://www.carnegiehall.org/ (Carnegie Hall) https://www.aiib.org/en/index.html (Asian Infrastructure Investment Bank) https://www.imf.org/external/index.htm (IMF) https://www.britannica.com/biography/Robert-S-McNamara (Robert McNamara) https://www.forbes.com/profile/robert-zoellick/?sh=61f707032374 (Robert Zoellick) https://www.britannica.com/biography/Paul-Romer (Paul Romer) https://www.stanford.edu/ (Stanford University) https://www.britannica.com/biography/Alan-Greenspan (Alan Greenspan) https://twitter.com/tylercowen?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor (Tyler Cowen) https://www.amazon.com/gp/product/B003SNJZ3Y/ref=dbs_a_def_rwt_hsch_vapi_tkin_p1_i0 (More Money Than God: Hedge Funds and the Making of the New Elite) https://www.amazon.com/gp/product/B01CDVCAXS/ref=dbs_a_def_rwt_hsch_vapi_tkin_p1_i1 (The Man Who Knew: The Life & Times of Alan Greenspan) https://www.washingtonpost.com/ (The Washington Post) https://www.economist.com/ (The Economist) Support this podcast

①Trump vetoes massive defense bill, threatens government shutdown. ②Brazilian institute says vaccine from China's Sinovac is effective. ③Asian Infrastructure Investment Bank turns 5. ④US prepars new sanctions to impede Russia's Nord Stream 2 pipeline. ⑤Chinese swimmer Sun Yang's eight-year doping ban is overturned.

 Just World Educational's President, Helena Cobban, hosts the second session of the groundbreaking “US-China public dialogue” that JWE is holding in collaboration with the Chongyang Institute for Financial Studies at Renmin University in Beijing. This dialogue session features two great specialists who discuss some of the currently contested issues in the trade, investment, technology, and other aspects of the two countries' relations.The featured experts are:Dr. Yukon Huang, a senior fellow with the Carnegie Endowment for International Peace. Dr. Huang was formerly the World Bank's country director for China and, before that, director for Russia. Dr. Huang is an adviser to the World Bank, the Asian Development Bank, the Asian Infrastructure Investment Bank, and various governments and corporations. His latest book was Cracking the China Conundrum: Why Conventional Economic Wisdom Is Wrong (Oxford U.P., 2017).Mr. He Weiwen, a Senior Fellow with the Chongyang Institute and Vice Chairman of the Global Alliance of SMEs. Mr. He worked as Economic and Commercial Counselor in the Chinese Consulates General in San Francisco and New York, 1997-2003. He is the author of three books and 200 articles on economic and trade affairs.The full video of this conversation and the full video, audio, and transcript of the earlier dialogue session on security affairs are posted along with many related materials at this page on the Just World Ed website.Support the show (http://justworldeducational.org/donate/)

TORCH Goes Digital! presents a series of weekly live events Big Tent - Live Events! Humanities and Policy Week Part of the Humanities Cultural Programme, one of the founding stones for the future Stephen A. Schwarzman Centre for the Humanities. The World After COVID: In conversation with Professor Peter Frankopan (Stavros Niarchos Foundation Director of the Oxford Centre for Byzantine Research) and Professor Ngaire Woods (Dean of Blavatnik School of Government). Biographies: Professor Peter Frankopan Peter Frankopan is Professor of Global History, Stavros Niarchos Foundation Director of the Oxford Centre for Byzantine Research, and Senior Research Fellow at Worcester College. Peter works on the history of the Mediterranean, Russia, the Middle East, Persia, Central and Southern Asia, and on relations between Christianity and Islam. He is particularly interested in exchanges and connections between regions and peoples. Peter specialises in the history of the Byzantine Empire in the 11th Century, and in the history of Asia Minor, Russia and the Balkans. Peter works on medieval Greek literature and rhetoric, and on diplomatic and cultrual exchange between Constantinople and the islamic world, western Europe and the principalities of southern Russia. Professor Ngaire Woods Professor Ngaire Woods is the founding Dean of the Blavatnik School of Government and Professor of Global Economic Governance at Oxford University. Her research focuses on how to enhance the governance of organizations, the challenges of globalization, global development, and the role of international institutions and global economic governance. She founded the Global Economic Governance Programme at Oxford University, and co-founded (with Robert O. Keohane) the Oxford-Princeton Global Leaders Fellowship programme. She led the creation of the Blavatnik School of Government. Ngaire Woods serves as a member of the Asian Infrastructure Investment Bank’s International Advisory Panel, and on the Boards of the Mo Ibrahim Foundation and the Stephen A. Schwarzman Education Foundation. She is an Independent Non-Executive Director at Rio Tinto (effective September 2020). She sits on the advisory boards of the Centre for Global Development, the African Leadership Institute, the School of Management and Public Policy at Tsinghua University, and the Nelson Mandela School of Public Policy at Cape Town University. She is Chair of the Harvard University Visiting Committee on International Engagement and sits on the Harvard Kennedy School Visiting Committee. She is a member of the UK Government National Leadership Centre's Expert Advisory Panel, and of the Department for International Trade’s Trade and Economy Panel. She is an honorary governor of the Ditchley Foundation. Previously, she served as a Non-Executive Director on the Arup Global Group Board and on the Board of the Center for International Governance Innovation. From 2016-2018, she was Co-Chair of the World Economic Forum’s Global Future Council on Values, Technology and Governance.She has also served as a member of the IMF European Regional Advisory Group, and as an Advisor to the IMF Board, to the Government of Oman’s Vision 2040, to the African Development Bank, to the UNDP’s Human Development Report, and to the Commonwealth Heads of Government. Ngaire Woods has published extensively on international institutions, the global economy, globalization, and governance, including the following books: The Politics of Global Regulation (with Walter Mattli, Oxford University Press, 2009), Networks of Influence? Developing Countries in a Networked Global Order (with Leonardo Martinez-Diaz, Oxford University Press, 2009), The Globalizers: the IMF, the World Bank and their Borrowers (Cornell University Press, 2006), Exporting Good Governance: Temptations and Challenges in Canada’s Aid Program (with Jennifer Welsh, Laurier University Press, 2007), and Making Self-Regulation Effective in Developing Countries (with Dana Brown, Oxford University Press, 2007). She has previously published The Political Economy of Globalization (Macmillan, 2000), Inequality, Globalization and World Politics (with Andrew Hurrell: Oxford University Press, 1999), Explaining International Relations since 1945 (Oxford University Press, 1986). She has published numerous articles on international institutions, globalization, and governance. She has also presented numerous documentaries for BBC Radio 4 and BBC TV2. She was educated at Auckland University (BA in economics, LLB Hons in law). She studied at Balliol College, Oxford as a New Zealand Rhodes Scholar, completing an MPhil (with Distinction) and then DPhil (in 1992) in International Relations. She won a Junior Research Fellowship at New College, Oxford (1990-1992) and subsequently taught at Harvard University (Government Department) before taking up her Fellowship at University College, Oxford and academic roles at Oxford University. Ngaire Woods was appointed Commander of the Most Excellent Order of the British Empire (CBE) in the 2018 New Year's Honours for services to Higher Education and Public Policy. She is a Fellow of the Academy of Social Sciences and an International Honorary Member of the American Academy of Arts and Sciences.

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market: The Asian Infrastructure Investment Bank has appointed Erik Berglof as its first Chief Economist Berkshire Hathaway has bought a 5% stake in each of Japan’s five biggest trading houses, together worth over $6 billion, marking a departure for chairman Warren Buffett as he looks beyond the United States to diversify his conglomerate London-headquartered Tysers Insurance Brokers has appointed John Lentaigne as its new Global Head of Political Risk Trade Like what you hear? Hit subscribe to stay up to date and for all the latest news online visit www.txfnews.com today.

读书嘉宾：对外经济贸易大学英语学院副院长。2016年获得第12届北京市高等教育教学名师称号。2008年主持“高级商务英语听说”国家级和北京市精品课程，2013年主持国家网络精品资源共享课程，2019年主持双万“一流”国家级课程建设，主持中国大学慕课“商务英语听说”（爱课程和智慧树双网上线）。曾担任两门国家级商务英语考试组组长。2017年和2008年获得北京市优秀教学成果一等奖，二等奖各一次，两次校级优秀教学成果一等奖。2003和2007年两次获得对外经济贸易大学“十佳”优秀教师, 2013年获得首届校级“教学标兵”，2014年获得首届校级“师德标兵”。主持和参研国家级、省部级教学、科研项目8项，发表专著1部，译著4本，论文10余篇。撰写商务英语教材9套，其中两套获得北京市级精品教材和校级精品教材。英文文本：Enrich the Thought on the socialist Economy in the New EraIn the past five years, the Standing Committee of the Political Bureau of the CPC Central Commit-tee, the Political Bureau of the CPC Central Committee, the Leading Group for Further Reform under the CPC Central Committee, and the Leading Group for Financial and Economic Affairs under the CPC Central Committee have held over one hundred meetings at which major decisions and judgments concerning overall national economic development have been made. This process – from practice to understanding and from practice to understanding all over again – is extraordinary, helping us to constantly sum up the underlying laws of the economy, enhance our understanding, unify our thinking, and make the right decisions. Practice is the sole criterion for testing truth. Practice has proven that the Central Committee's assessment of the economic situation, its decisions on economic work, and its adjustments on development ideas are sound, and this has guided us to achieve historic transformation and results in economic development.First, our economic strength has reached a new level. In the past five years, our annual economic growth has averaged 7.1 percent, reaching over RMB 80 trillion this year and making up 15 percent of the world total – 3.5 percentage points higher than five years ago. Our contribution to world growth was over 30 percent on a yearly basis, exceeding the US, Europe and Japan combined. Our country has become the major engine and anchor of world economic growth. Our market has expanded and attracted investors at an unprecedented rate.Second, major changes have taken place in the economic structure. We have advanced supply-side structural reform, cutting overcapacity, reducing excess inventory, deleveraging, lowering costs, and strengthening areas of weakness. These measures were taken to reduce excess capacity, clear goods from the market, and promote balance between demand and supply. New technologies, new products, new industries and new business models have flourished, and innovation has played a more obvious role as the major driving force of the economy. The agricultural sector has witnessed stable growth and further structural adjustment. As a result of our concerted efforts, our economic growth now relies more on industry and services combined rather than industry alone, and more on consumption and investment combined rather than investment alone, and China has changed from a major exporter to both an importer and exporter. We have finally achieved long sought-after major structural changes.Third, more vitality and resilience have become apparent in our economy. We have stated that we will let the market play the decisive role in allocating resources, let the government play its role better,and drive deeper reform in the economic system. On the whole we are making gradual and steady progress and have made breakthroughs in certain areas. The Leading Group for Further Reform under the CPC Central Committee reviewed and approved 105 major measures in structural economic reform. This reform was then rolled out across the board and major breakthroughs were made in key and fundamental fields, which served to emancipate the productive forces immensely.Fourth, China has opened up further to the outside world. The Belt and Road Initiative, the Asian Infrastructure Investment Bank, and the Silk Road Fund that we have initiated and promoted,and the win-win cooperation philosophy we have advocated, have expanded our space for development. Foreign trade and foreign direct investment have seen stable growth. The Renminbi was included in the International Monetary Fund's special drawing rights (SDR) basket, a major step towards the internationalization of the Renminbi. Towards the goals of promoting free trade and investment, we have actively guided economic globalization onto the right path. Our influence on global economic growth and our voice in global economic governance have markedly increased.Fifth, people's sense of gain and happiness has been heightened. Over the past five years, a total of over 65 million jobs have been created in urban areas. Income growth surpassed the overall rate of economic growth, and decisive progress was made in eliminating poverty, with over 66 million people helped out of poverty. The quality of education has improved. A social security network covering rural and urban residents is in place. Access to health and medical services has significantly improved, and basic public services have become equally accessible to more people. China now has the world's largest middle-income population.Sixth, noticeable progress has been made in protecting the eco-environment. In the past five years, we have been firm in accelerating the pace of eco-civilization, leading to greater initiative and aware-ness of green development within the Party and the nation. Tangible results have been seen in the control and prevention of air, water and soil pollution. The average concentration of PM 2.5 declined by 30 percent in key areas, energy intensity fell by 20.7 percent, and forest acreage and stock volume increased by 10.87 million hectares and 1.9 billion cubic meters respectively. Regarding the eco-environment, our commitment, measures and achievements are unprecedented.These historic economic achievements and transformations of the past five years have been made under the strong leadership of the Party Central Committee, and with the joint efforts of the Party and the whole country.

Episode 26. Amanda Song recently completed her PhD in Cognitive Science at UC San Diego. She studied at Fudan University and has done internships at Qualcomm, Tesla, TuSimple, and the Asian Infrastructure Investment Bank. Since we recorded the podcast, Amanda defended her dissertation and started an internship at The Bill and Melinda Gates Foundation. Congratulations Amanda!

This week on Sinica, Kaiser chats with Sir Danny Alexander, vice president and corporate secretary of the Asian Infrastructure Investment Bank and former Liberal Democrat MP and chief secretary to the Treasury of the United Kingdom. Sir Danny gives an overview of how Asia’s financial sector has been impacted by COVID-19.5:27: The United Kingdom’s decision to join AIIB11:49: AIIB and its accountability framework in decision making25:16: How U.S.-China relations have affected AIIB34:00: What AIIB is pushing investors toward nowRecommendations:Danny: Tengger Cavalry, a heavy metal band from Inner Mongolia. Kaiser: The heavy metal bands Ego Fall and Nine Treasures.

Today on The Negotiation, we speak with Wei Liang, Professor of International Policy Studies at Middlebury Institute of International Studies at Monterey. She discusses the current state of the Belt and Road Initiative in-depth, as well as China's current reputation on the world stage amid a variety of crises, not least of which are COVID-19 and the country's strained relationship with Hong Kong.The Belt and Road Initiative was first announced in 2013 by President Xi Jinping with the ambitious (and ever-evolving) plan to connect Asia, Europe, the Middle East, and Africa. The belt begins in the northwest part of China and connects to Central Asia through to Europe. The road refers to the 21st Century Maritime Silk Road which connects China to Southeast Asia, the South China Sea, the Indian Ocean, all the way through to the Middle East and Africa.China's goal is to connect with regions that it never had much economic influence in previously, while at the same time trying to bypass the influence of the United States by going through the “backyard” of Russia and India. China is intentionally keeping the BRI a “vague concept” striving to make it “open and inclusive”. One thing that has remained constant since its inception is that the United States has not been included thus far and does not seem likely to participate in any capacity any time soon.China's relations with other powerful countries has been unsteady for a variety of reasons. China's exponential rise as a global exporter in Asia is one factor. The language and cultural barriers are others. Recently, certain issues have influenced China's image for the worse, two of the biggest being the impact of COVID-19 and the country's turbulent relationship with Hong Kong.China's focus is on infrastructure investments, which is why it put a tremendous amount of resources into the BRI. Its current relationship to the US, particularly after the trade war and the COVID-19 outbreak, is a confirmation to many scholars who have been following the unique relationship between the two countries: China has always sought to remain prepared with alternative markets to do business in.Regardless of which party wins the US presidential election in November, China will continue to have to deal with the profound mistrust between the two countries. Economic issues are one thing. Geopolitical and security considerations are another, and the two nations have continually stoked the embers of conflict throughout the past few years.

In the first edition of the OMFIF-KPMG Asia Pacific podcast series, Jang Ping Thia, principal economist at the Asian Infrastructure Investment Bank, joins KPMG's Sharad Somani and OMFIF's Adam Cotter to discuss the future of infrastructure as an asset class. What can be done to ensure funding for infrastructure projects? Is the pandemic accelerating the adoption of technology to improve project delivery? Are governments implementing reforms quickly enough to support sustainable infrastructure projects? Does the Covid-19 crisis offer a golden opportunity for policy-makers to build a clear pipeline of greenfield and brownfield projects in emerging markets?   Music: https://www.bensound.com/royalty-free-music

Jorge Dajani is the chief ethics officer of the World Bank Group, and has been in the position since June 2018. Dajani directs the Ethics and Business Conduct Department, which promotes the development and application of the highest ethical standards by staff members. He provides overall strategic leadership on ethics and business conduct, ensuring ethics and values are fully incorporated into the strategy of the entire World Bank Group. Dajani possesses a deep knowledge of multilateral development banks, a proven track record in corporate strategy and development, and a reputation for effective stakeholder engagement. He is widely recognized for his management skills and stewardship of policies and procedures within international financial institutions with a focus on strategy, ethics and governance.  Prior to his current role, Dajani was alternate executive director at the International Monetary Fund. Previously, he served as director general for macroeconomic analysis and international finance at the Ministry of Economy of Spain. He has served on the boards of several multilateral banks, including the World Bank, the Inter-American Development Bank, CAF-Development Bank of Latin America, and the African Development Bank. He was Spain’s chief negotiator for the establishment of the Asian Infrastructure Investment Bank and the Green Climate Fund, and has been a member of the economic policy committees of the European Union and the Organization for Economic Co-operation and Development.   What You’ll Learn on This Episode  [0:49] How did you come to find yourself in a career in ethics? What was the path that's taken you to this point? [1:54] How did he get to the World Bank? Where did he start his career? [2:50] What are his main priorities s chief ethics officer? What is he trying to accomplish? [4:46] How often is ethics training offered? What types of trainings are offered? How can technology improve the engagement and knowledge retention of employees and stakeholders? What are some new ways he is using to send ethics messages, beyond training? [6:58] What is the World Bank doing to educate about sexual harassment and issues similar to that? [10:20] World Bank has taken an innovative step by adopted a reporting system where people can file the complaint, but then they can choose when and with whom they want to share it at their time. What’s the benefit of that? [12:34] What does Dajani look at when he measures to decide if what he is doing is successful, or not?

Intervention de Me. Natalie Lichtenstein lors de la conférence "Modern Times and Digital Regulation" du 11 octobre 2018 co-organisée avec la Chinese Academy of Social sciences (CASS) Language : English Page évènement Version vidéo

In a week full of world-shaping history, from the 75th D-Day anniversary to the 30th anniversary of the Tianamen Square massacre, our feature interview is with former U.K. Cabinet minister Danny Alexander. He flew in from Beijing to discuss his new work as vice president at the Asian Infrastructure Investment Bank. They're bringing the annual meeting to Luxembourg next month. The podcast panel is Alva Finn and Ryan Heath flying solo on the Trump visit, a center-left win in Denmark's election, and whether or not the European Parliament is a "kangaroo court" as Nigel Farage claims.

I talk about the AIIB, and possible implications of it's activities --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/tstuch/support

I discuss some recent moves by the AIIB, and how European countries are being tied closer and closer to China --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/tstuch/support

This episode explores the relationship between China and the current postwar international order, drawing from the RAND Corporation’s May 2018 report titled China and the International Order. Our guest and the report’s co-author, Mr. Timothy Heath, analyzes China’s perceived challenges to the current order, including the development of multilateral institutions like the Asian Infrastructure Investment Bank and Shanghai Cooperation Organization, as well as policies like the Belt and Road Initiative. He also details policy recommendations for US strategy toward China and how China’s approach to the international order may evolve in the future. Mr. Timothy Heath is a senior international defense research analyst at the RAND Corporation in Washington DC. Prior to joining RAND, he served as the senior analyst for the USPACOM China Strategic Focus Group for five years. He has extensive experience analyzing China's national strategy, politics, ideology, and military, as well as Asian regional security developments.  

On this episode, Yale School of Forestry and Environmental Studies master student Nicholas Lo talks about his field work that looked at Chinese infrastructure and natural resource investments in Myanmar, and how Chinese capital can bring specific challenges and some potential gains, to creating sustainable development outcomes in the country. This episode is based on Nicholas' article for the Beijing-based NGO Global Environmental Institute http://www.geichina.org/en/challenges-of-greening-the-belt-and-road-myanmar-case-study/Erik's Recommendation:China Challenges Global Governance? The Case of Chinese International Development Finance and the Asian Infrastructure Investment Bank https://www.chathamhouse.org/publication/ia/china-challenges-global-governance-case-chinese-international-development-finance-andNick's recommendation:Burma: Insurgency and the Politics of Ethnicity by Martin Smithhttps://www.goodreads.com/book/show/1649910.Burma

This week on Sinica, Kaiser speaks with Danny Russel, career diplomat and former assistant secretary of state for East Asian and Pacific affairs from 2013 to 2017, and currently vice president for international security and diplomacy at the Asia Society Policy Institute (ASPI). The conversation centers on all things diplomatic in East and Southeast Asia: the Trans-Pacific Partnership; internet freedom in China; the country’s “illiberal turn”; espionage and intellectual property theft during his time in Washington; the Obama administration’s position on the Asian Infrastructure Investment Bank (AIIB); and, finally, reflections on the current state of the U.S.-China relationship. What to listen for on this week’s Sinica Podcast: 3:20: Kaiser begins the discussion with a question about the characterization of the Obama administration’s regional strategy, the “Pivot to East Asia.” Russel maintains that “[Barack Obama]…understood intellectually and understood viscerally, that America’s economic development, that America’s security interests and America’s future, was inextricably linked to the Asia-Pacific region, which was clearly the driver of global growth.” 38:25: Assistant Secretary Russel elaborates on the driving forces behind the “illiberal turn” that has fueled anxieties among China-watchers. “It felt as if the impact of the 2008 financial crisis had sent a pulse through Chinese thinking. This pulse seemed to dispel the long-held notion that there was something to respect, and to perhaps imitate, in the Western economic model.” 57:31: “If China’s going to throw a lot of money behind the laudable objective of promoting infrastructure development in Asia, why doesn’t it use the Asian Development Bank, or the World Bank, or some of the existing mechanisms that are proven institutions? And if then, if China is going to create not a national bank, but an international development bank, the starting point for any new multilateral banking institution had better be the high-water mark in terms of standards and operations that have been achieved over the last 70 years by the existing multilateral banks.” 59:00: “Early on in the time of the Asian Infrastructure Investment Bank’s conception, it was all label and no substance. What we were seeing, and hearing was that China was asking governments to buy what was a pig in a poke.” 1:05:36: Kaiser raises a question regarding the anxieties that have taken root between Washington and Beijing and now are straining the relationship, some deserved and others unfounded. “We’re seeing what’s almost a perfect storm in which the accumulated frustration and unhappiness among so many different elements of U.S. society, and so many stakeholders that traditionally have supported the U.S.-China relationship,” Assistant Secretary Russel comments on the continually worsening state of affairs, as there is a the “diminished willingness to speak up” in defense of the relationship. Recommendations: Assistant Secretary Russel: No book or show, but rather a plea for public service; the Foreign Service, joining a non-governmental organization, nonprofit work, etc. Kaiser: Educated, by Tara Westover, a memoir of a young girl raised in a fundamentalist, survivalist Mormon family in Idaho.

In the second of this four-part series on China's Belt and Road initiative, we talk to Haslinda Amin, who hosts the second episode of Bloomberg's TV series on the initiative and has traveled extensively through Southeast and Central Asia for the project. She looks at the complex ways countries in the region view China's sprawling infrastructure investment. India, for example, has one of the world's largest rail networks, and the Asian Infrastructure Investment Bank has committed in excess of 3 billion dollars to the country's transportation system. This episode explores the political and strategic reasons China is interested in contributing to boosting India's infrastructure.

In the fourth episode of Rethinking Asia, we interviewed Matthew Goodman, the William E. Simon Chair in Political Economy at the Center for Strategic and International Studies (CSIS). At CSIS, he leads the Reconnecting Asia program, which tracks how infrastructure is shaping economic and geopolitical realities in Asia. Our discussion touched on Asia’s huge demand for new infrastructure and the complex geopolitical tensions among regional and multilateral actors. Matthew addressed how countries deal with the risks associated with these large projects and unpacked the role of national strategy, including China’s Belt and Road Initiative. Some of our key takeaways include: The Asian Development Bank estimates that between 2016 and 2030, Asia needs $26 trillion of infrastructure investment to reduce poverty and expand growth. International investors see infrastructure projects as a source of long-term return, but often must contend with underlying issues of corruption, land rights, and political risk. While donor countries seek to lead infrastructure projects to gain commercial or geopolitical benefits, recipient countries pursue projects for growth and domestic political support. Japanese banks lead the world in infrastructure financing, but recent Chinese efforts – the Belt and Road Initiative and the Asian Infrastructure Investment Bank – are expanding trade connections and raising China’s profile in developing countries. Most global trade currently takes place via sea, but improved land-based transportation infrastructure in Asia may mean more commerce travels over upgraded freight and truck networks. To plan and finance physical infrastructure, countries also need many forms of soft infrastructure, like functioning capital markets, customs procedures, credible legal and regulatory regimes, and human capital.  

Conversation With talks to AIIB President Jin Liqun about infrastructure projects in Malaysia and India.

Launched by China in June 2015, the Asian Infrastructure Investment Bank ("AIIB") currently has eighty-six members and, with $100 billion in capital, has lent around $4 billion to infrastructure projects throughout Asia. The AIIB's very creation is an important marker in China's economic and strategic rise over the past forty years, from a poor country that was entirely outside of the Bretton Woods financial system, to the largest borrower from the World Bank, and now, to the creator of a competitor institution designed to address some of the World Bank's deficiencies. In this episode, the inaugural general counsel of the AIIB, Natalie Lichtenstein, discusses with Neysun Mahboubi the background and early history of the Bank, informed by her distinguished thirty-year career in the legal department of the World Bank, where she advised on lending operations in China from their inception. The episode was recorded on January 23, 2018. Natalie Lichtenstein was chief counsel for the establishment of the AIIB, and the principal drafter for its Charter, before serving as the Bank's inaugural general counsel. She has just published a new book with Oxford University Press, A Comparative Guide to the Asian Infrastructure Investment Bank, which is the most comprehensive account of the AIIB thus far. Earlier in her career, she served in the legal department of the World Bank for thirty years, including as Chief Counsel for East Asia. Before that, as a junior attorney in the U.S. Treasury Department, she worked on legal issues related to normalization of relations between the U.S. and China. She has taught Chinese law as an adjunct professor since the 1980s, most recently at the Johns Hopkins School of Advanced International Studies. Music credit: "Salt" by Poppy Ackroyd, follow her at http://poppyackroyd.com  Special thanks to Kaiser Kuo and Nick Marziani

China verovert de wereld met de nieuwe Zijderoute. Goed of slecht nieuws? Lodewijk Hof mailde de volgende vragen: 1. Wat is die Chinese zijderoute precies? De Chinese Han-dynastie bouwde ruim 2250 jaar geleden een handelsroute vanuit de toenmalige hoofdstad Xian naar Antiochië in Zuid-Turkije, voor de export van zijde en de invoer van vee, graan en heel belangrijk kennis. Het moderne China laat die gedachte herleven met een landroute via Rusland, Oost-Europa naar Rotterdam, en een zeeroute, via Singapore, Pakistan, India, de Hoorn van Afrika, via de Rode Zee naar Athene en Rotterdam. Ze noemen het Eén Gordel, één Weg. 2. Klinkt spannend. Wat wil China? Hangt ervan af wie je het vraagt. Ze stoppen er een biljoen dollar in, met projecten in meer dan zestig landen. In Oost-Europa bouwen de Chinezen spoorlijnen, ze hebben de Griekse haven Piraeus in handen, en ook grote belangen in de haven van Rotterdam. Dat biedt enorm perspectief voor groeiende handel. Critici zeggen: het zijn allemaal Chinese investeringen, waarin partnerbedrijven hooguit een minderheidsbelang hebben. Dus China koopt langzaam de wereld op. 3. Wat is daarop tegen? Die Chinese investeringen zijn aantrekkelijk, maar andersom, dus investeren in Zijderoute-projecten is vrijwel onmogelijk. Bovendien zien tegenstanders het als een van de Chinese trucs om westerse kennis te bemachtigen. Net als de oorspronkelijke Zijderoute, die ook diende om westerse uitvindingen naar China te halen. Het gaat dus om intellectueel eigendom. En om macht. Om hegemonie in de wereld. 4. In de Belgische luchtvaartmaatschappijen VLM en Air Belgium zit Chinees geld. Is dat onderdeel van de Zijderoute? Je kunt zeggen: het gaat om land- en een zeeroutes, geen luchtroutes. Aan de andere kant, volgens de Belgische media is het doel in dit geval: veel nieuwe vluchten naar China. 5. Wat hebben we er in Nederland aan? Hangt er ook weer vanaf aan wie je het vraagt. Logistieke bedrijven vinden het grandioos. Nederland participeert in de Asian Infrastructure Investment Bank, die de projecten financiert. Maar in regeringskringen en in Brussel heerst er veel wantrouwen. Chinees imperialisme, zoals het wel wordt genoemd daar willen we niet graag aan. Dank, Lodewijk Hof. In de Wereld volgens Hammelburg beantwoord ik elke zaterdag vijf vragen over een internationaal thema. Hebt u een onderwerp? Stuur dan een mail naar onlineredactie@bnr.nl See omnystudio.com/listener for privacy information.

In 2014, China announced the creation of the Asian Infrastructure Investment Bank (AIIB), an ambitious multilateral project aimed at fostering economic development throughout Asia. The AIIB, to be led by China, raised concerns for policymakers in Washington: would AIIB undermine the existing global financial infrastructure and lead to a lowering of standards? Yet, in a dramatic setback for the United States, nearly 60 nations ultimately announced their intentions to join AIIB in 2015, including close allies such as the U.K., Germany, France, Korea, Australia and Israel. In the two years following the bank’s official launch in January 2016, AIIB has emerged as a regional powerhouse, financing numerous diverse projects throughout Asia. AIIB now commands an impressive capital holding which rivals that of the Asian Development Bank, and a AAA credit rating on par with that of the World Bank. Amid growing economic tensions between the United States and China, the AIIB has remained largely unknown to the American public. In a new book, A Comparative Guide to the Asian Infrastructure Investment Bank, former AIIB General Counsel Natalie Lichtenstein draws upon her role as an architect of the AIIB charter to provide an in-depth analysis of the bank’s operations, and how the bank compares to other development banks. Ms. Lichtenstein discussed her book and the future of the AIIB with the National Committee on May 2nd in New York City.   Natalie Lichtenstein is a U.S. lawyer who has specialized in legal issues at international financial institutions, and legal development in China, since the 1970s. She was the inaugural general counsel of the Asian Infrastructure Investment Bank and the principal drafter of the AIIB Charter. Her work for AIIB drew on her 30-year legal career at the World Bank, where she advised on lending operations in China and other countries for 20 years. During her last decade there, she served in senior positions, specializing in institutional governance issues and reforms. As a young lawyer at the U.S. Treasury Department, she worked on international financial institution matters and normalization of U.S.-China relations. Ms. Lichtenstein has taught Chinese law in the U.S. since the 1980s, and has consulted on Chinese legal development projects. She is an adjunct professor at the Johns Hopkins School of Advanced International Studies, and a member of the advisory board of the Duke-Kunshan University. In addition to her book on the AIIB, she is the author of numerous articles in professional journals. She received her AB summa cum laude in East Asian Studies and JD from Harvard University.

In conversation with NCUSCR President Stephen Orlins, former AIIB General Counsel Natalie Lichtenstein discusses the process behind drafting the bank's charter.    Natalie Lichtenstein is a U.S. lawyer who has specialized in legal issues at international financial institutions, and legal development in China, since the 1970s. She was the inaugural general counsel of the Asian Infrastructure Investment Bank and the principal drafter of the AIIB Charter. Her work for AIIB drew on her 30-year legal career at the World Bank, where she advised on lending operations in China and other countries for 20 years. During her last decade there, she served in senior positions, specializing in institutional governance issues and reforms. As a young lawyer at the U.S. Treasury Department, she worked on international financial institution matters and normalization of U.S.-China relations. Ms. Lichtenstein has taught Chinese law in the U.S. since the 1980s, and has consulted on Chinese legal development projects. She is an adjunct professor at the Johns Hopkins School of Advanced International Studies, and a member of the advisory board of the Duke-Kunshan University. In addition to her book on the AIIB, she is the author of numerous articles in professional journals. She received her AB summa cum laudein East Asian Studies and JD from Harvard University.

The Asian Infrastructure Investment Bank is a $100 billion multilateral development bank that first opened in 2016. Initiated by China, its membership is global, with regional powers, from Korea to Saudi Arabia, and key players from Europe, Africa, and Latin America. Its arms reach far: in its first two years, it has financed a geographically and sectorally diverse set of projects in Pakistan, Oman, India, Azerbaijan, Tajikistan, and Indonesia. Please join the Simon Chair's Reconnecting Asia Project for a conversation with Natalie Lichtenstein, Chief Counsel for the 57-country negotiations that led to the AIIB's founding and the principal drafter of the Bank's charter, to discuss her new book: A Comparative Guide to the Asian Infrastructure Investment Bank.   This event is made possible through general support to CSIS.

Welcome to the 10th installment of the Caixin-Sinica Business Brief, a weekly podcast that brings you the most important business stories of the week from China's top source for business and financial news. Produced by Kaiser Kuo of our Sinica Podcast, it includes a business news roundup, conversations with Caixin reporters and editors, and a selection of complete stories from the news, read by Kaiser and Sinica rotating co-host Ada Shen. This week, we hear how the China-backed Asian Infrastructure Investment Bank approved its first equity investment, for infrastructure development in India. We examine the news that China has approved imports of new varieties of genetically modified corn and soybeans, and that global toy-maker Mattel will embark on a new joint venture to create play clubs in China with private equity giant Fosun Group. We give an update on the kindergarten bombing in eastern Jiangsu Province. We also talk to Caixin Global editor Doug Young about a massive overhaul planned for Shanghai's landmark department store, and chat with Caixin reporter Li Rongde 李荣德 about the brain drain of China's rust belt in the northeast. In addition, we bring you five complete stories: How a poorly done Chinese remake of a popular Japanese television drama has drawn fire from audiences in China. How social fitness apps and a growing middle class has sparked interest in running in China, prompting many cities to hold marathons. The ongoing crackdown against celebrity gossip on the wildly popular app Weixin, otherwise known as WeChat. China's crayfish craze and how farming the “little lobsters,” as they're called in Chinese, has become a massive and growing industry. How Chinese netizens are angry that the ubiquitous Xinhua Dictionary is now charging for word lookups on its smartphone app. We'd love to hear your feedback on this product. Please send any comments and suggestions to sinica@supchina.com.

James Chau talks about development, social inequity and One Belt One Road – China's new global strategy – with Sir Danny Alexander. A Vice President of the Asian Infrastructure Investment Bank and a former Secretary of State for Scotland in the UK government, he lives in Beijing.

The battle over the planet earth is coming to an end as the final Khazarian mafia underground bases and strongholds fall, White Dragon Society sources report. However, there is still some heavy duty last minute horse trading going on between East and West as the January 20th start of the presidency of Donald Trump approaches, according to sources involved in the negotiations. The future of our planet and our species is what is at stake. The big battle still to be concluded is the one over who exactly will be controlling the process of creating and distributing money, which is the real source of power on this planet. Put another way, what is at stake is the process of deciding what we, as a species, do in the future. With a little over one week to go before the Trump presidency begins, it is a good time to take note that, despite his name, he is not the one holding the trump cards in this high stakes world poker match. When the US dollar became the de facto world currency after World War 2, it was backed by gold and US GDP was worth 50% of world GDP. Now, the so-called US dollar is backed by nothing (the US has no gold) and US GDP, as measured by the IMF, is just 15.6% of world GDP on a purchasing power parity (real) basis. Furthermore, the US was the worldâ??s greatest creditor nation at the end of WW2 and now it is the most deeply indebted nation in the history of this planet. By contrast, China now controls 17.9% of world GDP, has plenty of gold and is the worldâ??s greatest creditor nation. The members of the China led Asian Infrastructure Investment Bank, now over 100 countries, control close to 80% of world GDP while the US and its slave state Japan, the final anti-AIIB hold outs, control less than 20%. This means that if China and its Western allies make a grab for control of the worldâ??s financial system, they will succeed. http://benjaminfulford.net/

Jason Burack of Wall St for Main St interviewed returning guest, editor of the Hat Trick Letter at Golden Jackass http://www.goldenjackass.com/, Jim Willie. During this hour+ long interview, Jason asks Jim questions about the global economy and markets including: 1) Former Goldman Sachs alumni and current Minneapolis Federal Reserve Bank President recently said in public that the Federal Reserve serves Main St. Do you agree with him? 2) Will the powerful politicians and bureaucrats running the EU allow Brexit to occur? Look inside the ECB's asset buying (manipulation) program (of propaganda) http://www.zerohedge.com/news/2016-06-13... 3) Do you think the economic and political elites were meeting at the recent Bilderberg meeting to discuss how to implement fully digital currencies and a cashless society on a global scale? 4) Do you think the US wants a new president in place in Brazil to allow US oil companies to buy up assets from PetroBras as Petrobras faces financial problems from low oil prices and too much debt? Are the Chinese also planning how to get involved in this with strategic investments into mining and oil in Brazil? 5) China is now issuing RMB bonds from it's BRICs bank and Asian Infrastructure Investment Bank. In your opinion what does this mean for the global financial system and the Petro Dollar? 6) Bloomberg recently ran an article saying that the Chinese want to have more control over how all commodities are priced since China is the largest buyer of many commodities. Do you think China is doing a step by step process to castrate the LBMA and the COMEX? 7) Do you think there's a manipulation tug of war in the oil market between Russia/Saudis who want the higher cost producers all bankrupt while Wall St banks want to move oil prices higher to avoid declaring tens of billions in bad oil loans?

In his History of the Peloponnesian War, ancient Greek historian Thucydides told us the tale of a dominant regional power (Sparta) that felt threatened by the rise of a competing power (Athens). Sparta felt so threatened, in fact, that all the moves they made to keep the Athenian rise in check eventually escalated the power struggle into an all out war. Modern political scientists call this the Thucydides Trap. The idea is that when, out of fear, a dominant power takes certain steps to keep its competitor at bay, these actions ultimately lead to war between the two. There's a lot of concern that the US and China will fall into the Thucydides Trap. This is certainly a valid concern. Both are nuclear superpowers with some of the largest militaries in the world. But in 2016, modern warfare is not about tanks and aircraft carriers anymore. Modern warfare is insurgent, cyber, and financial. In fact, if you look at the state of the financial system and the tactical brinksmanship between the US and China, it's clear that the two are already in a Thucydides Trap. This power struggle is leading to financial warfare of nuclear proportions; and as with any war, there will be a lot of casualties. Just over the last several months we've seen many exchanges of fire between the two nations. The US government claimed legal jurisdiction over the Bank of China, one of the largest banks on the mainland. The Chinese launched the Asian Infrastructure Investment Bank, a supernational bank designed to compete with the Western-dominated IMF. The US blacklisted one of China's largest telecom companies, forbidding any US company from doing business with China's ZTE. China has been rapidly expanding its global payment network, UnionPay to become a direct competitor with Western systems like Maestro, Visa, and Mastercard. And don't forget, China could unleash its nuclear option at any time-- dumping its vast trillion+ pool of US government debt, which would potentially cause a major crisis for the US dollar. It's a bit sad, because almost EVERY action of the US government only escalates the conflict further… and the Chinese eagerly follow suit. This is how World War III starts. And it will be financial. Listen in to today's podcast and learn more about how this conflict will unfold… and how to not to end up as collateral damage.

In his History of the Peloponnesian War, ancient Greek historian Thucydides told us the tale of a dominant regional power (Sparta) that felt threatened by the rise of a competing power (Athens). Sparta felt so threatened, in fact, that all the moves they made to keep the Athenian rise in check eventually escalated the power struggle into an all out war. Modern political scientists call this the Thucydides Trap. The idea is that when, out of fear, a dominant power takes certain steps to keep its competitor at bay, these actions ultimately lead to war between the two. There’s a lot of concern that the US and China will fall into the Thucydides Trap. This is certainly a valid concern. Both are nuclear superpowers with some of the largest militaries in the world. But in 2016, modern warfare is not about tanks and aircraft carriers anymore. Modern warfare is insurgent, cyber, and financial. In fact, if you look at the state of the financial system and the tactical brinksmanship between the US and China, it’s clear that the two are already in a Thucydides Trap. This power struggle is leading to financial warfare of nuclear proportions; and as with any war, there will be a lot of casualties. Just over the last several months we’ve seen many exchanges of fire between the two nations. The US government claimed legal jurisdiction over the Bank of China, one of the largest banks on the mainland. The Chinese launched the Asian Infrastructure Investment Bank, a supernational bank designed to compete with the Western-dominated IMF. The US blacklisted one of China’s largest telecom companies, forbidding any US company from doing business with China’s ZTE. China has been rapidly expanding its global payment network, UnionPay to become a direct competitor with Western systems like Maestro, Visa, and Mastercard. And don’t forget, China could unleash its nuclear option at any time-- dumping its vast trillion+ pool of US government debt, which would potentially cause a major crisis for the US dollar. It’s a bit sad, because almost EVERY action of the US government only escalates the conflict further… and the Chinese eagerly follow suit. This is how World War III starts. And it will be financial. Listen in to today’s podcast and learn more about how this conflict will unfold… and how to not to end up as collateral damage.

In his History of the Peloponnesian War, ancient Greek historian Thucydides told us the tale of a dominant regional power (Sparta) that felt threatened by the rise of a competing power (Athens). Sparta felt so threatened, in fact, that all the moves they made to keep the Athenian rise in check eventually escalated the power struggle into an all out war. Modern political scientists call this the Thucydides Trap. The idea is that when, out of fear, a dominant power takes certain steps to keep its competitor at bay, these actions ultimately lead to war between the two. There's a lot of concern that the US and China will fall into the Thucydides Trap. This is certainly a valid concern. Both are nuclear superpowers with some of the largest militaries in the world. But in 2016, modern warfare is not about tanks and aircraft carriers anymore. Modern warfare is insurgent, cyber, and financial. In fact, if you look at the state of the financial system and the tactical brinksmanship between the US and China, it's clear that the two are already in a Thucydides Trap. This power struggle is leading to financial warfare of nuclear proportions; and as with any war, there will be a lot of casualties. Just over the last several months we've seen many exchanges of fire between the two nations. The US government claimed legal jurisdiction over the Bank of China, one of the largest banks on the mainland. The Chinese launched the Asian Infrastructure Investment Bank, a supernational bank designed to compete with the Western-dominated IMF. The US blacklisted one of China's largest telecom companies, forbidding any US company from doing business with China's ZTE. China has been rapidly expanding its global payment network, UnionPay to become a direct competitor with Western systems like Maestro, Visa, and Mastercard. And don't forget, China could unleash its nuclear option at any time-- dumping its vast trillion+ pool of US government debt, which would potentially cause a major crisis for the US dollar. It's a bit sad, because almost EVERY action of the US government only escalates the conflict further… and the Chinese eagerly follow suit. This is how World War III starts. And it will be financial. Listen in to today's podcast and learn more about how this conflict will unfold… and how to not to end up as collateral damage.

Drs Matteo Dian and Silvia Menegazzi give a talk on the AIIB at the International Political Economy of East Asia Seminar This presentation will analyse the strategy that led China to establish the Asian Infrastructure Investment Bank (AIIB) and its likely consequences for the regional and global economic order. The creation of the AIIB embodies a considerable shift for the Chinese approach to regional and global governance, constituted by an increasing will to promote a transition from a 'Western-led governance' to a more inclusive 'East-West co -governance'. Is the AIIB initiative just an instrument created to sustain China’s economic prosperity and Xi Jinping’s call for a 'Chinese Dream'? Is it a consequence of China's growing frustration with the Bretton Woods' architecture? Or, is it rather a first stepping stone towards a new China-centered financial and economic order? Does this entail a relevant threat to the world's economic order and its institutions? Or is it more simply a symptom of the increasing normative and institutional plurality of the current international order? In this light, the seminar will scrutinize Beijing's new multilateral project taking into account China's growing regional role, and in particular, it’s renewed centrality in the East Asian region. In the course of the seminar, particular attention will be devoted to the analysis of the challenges and priorities as discussed by Chinese scholars, policy analysts and think tank experts.

今日は、中国の現状について話します。 １月１６日に、中国に関連して二人のトップが誕生しました。一人は、台湾の民進党から台湾総統となった蔡英文です。これまで国民党が「ひとつの中国」の原則を認めて中国と親しくしてきましたが、彼女はこれを認めていません。もう一人が、ＡＩＩＢ(Asian Infrastructure Investment Bank)の金立群総裁です。ＡＩＩＢとは、中国の新シルクロード構想を金融面から助けるために作られたインフラ投資銀行のことです。金総裁はこれまで、アジア開発銀行の副総裁を務めていました。 中国の内政面でも、最近、いろいろなことが起こっています。これまで３０年間続いてきた一人っ子政策をやめて、この１月から二人っ子政策を採用することにしました。一人っ子政策によって生産年齢人口が減り、ＧＤＰの成長率が落ちてきたことが原因です。高齢化も進んでおり、少ない生産年齢人口がたくさんのお年寄りを支えるという、日本でも見られる状況に陥りつつあります。 環境問題も大きくなってきています。これまでは、北京や天津が所在する河北省の大気汚染が大変なことになっていました。河北省だけではなく、昨年末に私たちが大連に赴いた際には、大連の空がかつてないほどに曇っていました。冬になると皆が石炭で暖をとるため、空気がますます悪くなります。このような状況が続くと、外国人や金持ちの中国人が逃げ出してしまいます。とてつもないお金と時間がかかるものの、そろそろ環境問題に真面目に取り組まなければならない状況となってきました。 中国の経済成長には、スローダウンが見られます。先日発表された２０１５年の実質経済成長率は、６．９パーセントでした。株式市場は、昨年の前半には好調であったものの、後半に入ると落ち始め、世界に影響を与えています。一方で、中国の人民元は、ＩＭＦのＳＤＲ（Special Drawing Rights）に２０１６年１０月に組み入れられることになり、世界各国の中央銀行はこれに対応するために、人民元の外貨準備への組み入れを増やすと見られます。 中国は、いろいろな自由化を推し進めています。たとえば、金融の預金金利の上限を撤廃しました。これまでは貸出金利は自由化されていたものの、銀行の利鞘を守るために預金金利を一定以上に上げることはできませんでした。預金金利がインフレよりも低いために、地方の不動産など、シャドー・バンキングと呼ばれるより金利が高いところにお金が流れていました。その結果、ゴースト・タウンができたり、不良債権問題が起きたりと、いろいろな騒ぎとなっていました。今回の撤廃によって、皆が銀行に預金することが期待されます。 中国は、中進国の罠に陥っています。少し前に南アメリカ諸国が中進国になりましたが、その後先進国になることができていません。先進国に進むためには、世界で一番となるような産業を研究開発しなければなりませんが、これがなかなか進展しないのです。中国の労働コストは毎年１０％くらいずつ上がっており、労働コストの面で発展途上国と勝負できなくなっています。もう労働コストが安い途上国として発展するわけにはいかないのです。 中国の産業面では、鉄鋼産業が大きな問題を抱えています。中国は、世界の半分の鉄鋼を生産しています。しかし経済成長がスローダウンしてきたため、そこまで多くの鉄鋼はもはや不要です。そのために余った鉄鋼が安価で世界中に出回り、他国の鉄鋼業が皆赤字に陥るという事態になりました。そこで皆で中国に設備の廃棄や補助金の廃止などを求め、中国の生産能力を減らそうとしています。 中国の労働コストが上がったことで、日本の衣料にも変化が見られます。かつてユニクロは、製品の９割を中国で生産していました。現在では中国生産比率を６～７割に落としていますが、それでもなおユニクロの製品の価格は上がっていく見通しです。またおもちゃや運動靴も中国でたくさん作られていましたが、現在では、より労働コストが安い発展途上国に生産地が移りつつあります。 今日の話をまとめます。 中国では、人件費の高騰や環境の悪化によって、経済成長が鈍化してきました。人民元や株が売られています。鉄鋼や造船など、過剰生産力を抱えているところは、安値で輸出しています。一方で日本では、中国からの衣料の輸入価格が上がり始めました。中国は、世界の工場からサービス・消費国へ転換しつつあり、大国化が確実に進んでいます。一人っ子政策が二人っ子政策に変わり、定年も延長されつつあります。時間はかかるものの、今後は働き手が増えることとなります。一方で預金金利が自由化され、ＩＭＦのＳＤＲに人民元が入ることとなりました。また、新シルクロード構想を実現するために、ＡＩＩＢをこの１月に発足しました。

This is NEWS Plus Special English. I'm Mark Griffiths in Beijing. Here is the news. China is studying the possibility of introducing medical insurance fees for retirees, a move that has split expert and public opinion. In an article for "Seeking the Truth", the official Party magazine, Finance Minister Lou Jiwei said the government should look at the option as a way to tackle rising pressure on the national health system. Unlike in most countries, retirees in China are not required to pay health insurance. By the end of 2014, around 280 million Chinese were included in the employee medical insurance program, a main pillar of the national system. According to the Ministry of Human Resources and Social Security, the national insurance system currently has a surplus of 670 billion yuan, roughly 103 billion U.S. dollars, a figure that has continued to rise in recent years. Yet experts warn that China's rapidly aging society means a deficit will occur if expenditure keeps rising at the current pace. An expert at Peking University says that in the West, the biggest threat to national health insurance systems is an aging population. But in China, in addition to that factor, pressure also comes from the fact that reimbursement levels need to be increased. The expert said that this is the reason why retirees need to contribute. This is NEWS Plus Special English. As China scrapped its one-child policy, the existing social tracking system, a sort of credit rating for parents, was expanded in south China's Guangdong Province to help deter a third baby. Now, the reports will indicate that a couple has exceeded the limit. Couples who have a third child in violation of the rules will have difficulty applying for a loan, buying an airline ticket or benefiting from other social services under Guangdong's amended family planning regulation. The rule was approved by the provincial legislature on Dec 30, three days after the top national legislature approved the two-children rule. Guangdong Province, which has a reputation for bigger families, was the first to add the number of children to its social credit reporting system at the local level. Children born in violation of the rule will still obtain a hukou, or household registration, and can attend school. But their parents will face barriers in receiving some services in the future. The current social maintenance fee will remain in place for births that exceed the legal limit. If the parents pay the fee, they will face no barriers. Under China's new law, couples no longer need to ask for a birth permit beforehand for two children, though they are required to report and register their newborns. This is NEWS Plus Special English. Five minor planets have been named after top Chinese scientists, including the country's first Nobel laureate Tu Youyou. Minor Planet No. 31230 was named after Tu, who won last year's Nobel Prize in Physiology or Medicine for discovering artemisinin to treat malaria and saved millions of lives. Minor Planet No. 12935 was named after Zheng Zhemin, a prominent dynamicist and one of the founders of the field of explosion mechanics. Others include scientist Zhang Cunhao, who is the founder of the field of high-energy chemical lasers in China and one of the pioneers in the field of molecular reaction dynamics. The five scientists also include Xie Jialin, a renowned physical scientist and the founder of particle accelerators in China, as well as Wu Liangyong, an architect, city planner and educator. The five minor planets were discovered between 1995 and 1999 by the Beijing Schmidt CCD Asteroid Program at an observation station in northern China. You're listening to NEWS Plus Special English. I'm Mark Griffiths in Beijing. National forestry and weather authorities have dismissed rumors that trees planted as windbreaks have worsened air pollution in northern China by slowing air movement. Since November, severe smog has frequently engulfed northern China, including Beijing, Tianjin and Hebei province, partly because there have been more windless days. In recent weeks, the average wind speed in the region was around 6.8 kilometers per hour, which is 5 percent lower than the annual average. But experts say the slower wind has no relation to the windbreaks. Windbreaks can affect the wind speed, but only at the surface. Trees can slow wind only to a distance around 10 times their height. For example, if a tree is 20 meters high, it could affect wind within 200 meters. Windbreaks, also known as shelter belts, were created to guard against desertification and soil erosion. The closest major tree belt to urban Beijing is located 200 kilometers from the capital. The authorities say wind is weaker this winter because cold air fronts levels have been below average. This is NEWS Plus Special English. Drones and other high-tech surveillance measures have been making a big impact in the fight against drugs and related crimes in Huidong County in Guangdong province. The place was once known as a major production base for the so-called date-rape anesthetic ketamine. Five drones have provided accurate data for police planning raids on drug labs, while also helping deter drug producers and traffickers. The drones fly every day, mainly over local mountains, forests, large orchards and other target areas where police officers find it difficult to patrol and where secret drug dens might be hidden. The police cracked down three major gangs that were active in the county and the eastern coastal areas of Guangdong during a special operation in October 2013. More than 1,000 officers participated, dealing a heavy blow to the illegal drug trade. Following the success, the local government invested another 100 million yuan, roughly 15-and-a-half million U.S. dollars recently, in a sustained crackdown. This is NEWS Plus Special English. Unequal treatment of male and female scholars has been found in an online survey by a group of Chinese professors. The results showed that only a quarter of 170 professors interviewed believe the gender ratio is balanced in their institutions, while 67 percent said the number of female professors is "quite low". The survey received almost 1,600 responses from more than 40 academic institutions in November. Fifty-eight percent of female interviewees said they had experienced gender discrimination in their academic life. Sixty-seven percent of male interviewees denied stereotyping in academic work. The survey also found that most female professionals feel they are being discriminated against, while very few males feel the same way. Experts say that the discrimination is not a fixed policy or standard, but involves social judgments. The survey found that 77 percent of female professors believe that if they had been born male, their academic careers would have developed further. Among the 1,080 college students interviewed, only 20 percent of females said they would continue their academic career, while 33 percent of the males said likewise. You're listening to NEWS Plus Special English. I'm Mark Griffiths in Beijing. You can access the program by logging onto NEWSPlusRadio.cn. You can also find us on our Apple Podcast. If you have any comments or suggestions, please let us know by e-mailing us at mansuyingyu@cri.com.cn. That's mansuyingyu@cri.com.cn. Now the news continues. Among the most talked-about topics in foreign language education in China last year was the reform of English requirements for college entrance tests. A recent report says the proper priority for English and the drafting of a national standard has a great impact on foreign language education in China. The Beijing Foreign Studies University compiled the annual report of China's foreign language education which was released recently. The debate on English test reform in college entrance exams ended in 2014, when the State Council outlined a new plan in this regard. Under the plan, the Chinese language, English and math would be equally weighted. Previously, many people worried that English was losing its status in the country's educational thinking. Policy changes have been seen in foreign language studies. For example, many universities and colleges have added elective courses for Korean language learning. The Korean language studies have gone beyond traditional means of listening, speaking, reading and writing. But more emphasis has put on general education and cultural competency. The School of Arabic Studies at Ningxia University has revised its curriculum to include lectures for economics and management, political science and the humanities in its Arabic studies. This is NEWS Plus Special English. Scenic attractions associated with Chinese philosophers Confucius and Mencius are now free of charge for the country's 15 million teachers, in an effort to promote traditional culture. Three tourist venues, the Confucius Temple, his Family Mansion and the Cemetery of Confucius, are located in Qufu City in Shandong Province. Born near the present-day town of Qufu, Confucius lived 2,500 years ago. He founded a school of thought that influenced later generations and became known as Confucianism. He was the first person to set up private schools to teach children including those from poor families. A top party official in the city says Confucius is the teacher for all, and free access could make more teachers learn from him and become good teachers. Inscribed on the World Heritage List in 1994, the three scenic attractions, the Confucius Temple, his Family Mansion and the Cemetery of Confucius, received around four million visitors last year and in previous years. Meanwhile, the Temple and Family Mansion of Mencius, in Zoucheng City in the province have also begun offering free access for teachers, except during national holidays. The two spots are also on the country's key protection list. Mencius lived 2,300 years ago and was a student of a grandson of Confucius. Mencius traveled across the country all his life promoting Confucianism. You're listening to NEWS Plus Special English. I'm Mark Griffiths in Beijing. A documentary series on China's deep sea exploration has been aired on China Central Television, the state broadcaster. The three-episode documentary is entitled "China's Deep Dive". It shows how China's ocean scientists conducted deep-sea experiments on the seabed 3,000 meters below the surface. The scientists used the Jiaolong, or the Dragon, China's first deep-sea submarine. The documentary features a variety of deep-sea creatures and oceanic wonders captured by robot-mounted underwater cameras, as well as the life and emotions of the deep-sea divers. The camera men and other crew members have traveled with the exploration team, enduring typhoons, high waves and seasickness. Produced by the state broadcaster and several cooperation partners, this is the first in a series of documentaries featuring China's economic development and scientific achievements. The production of the documentaries was initialed by the Publicity Department of the Communist Party of China Central Committee and the State Council Information Office. Other documentary films include major infrastructure projects and the Asian Infrastructure Investment Bank. This is NEWS Plus Special English. Films screened in China raked in more than 44 billion yuan, or almost 7 billion U.S. dollars last year. That is an increase of almost 50 percent compared with the previous year and a record high since 2011. Domestic films took in 27 billion yuan, or 60 percent of the total, maintaining a clear dominance over the country's film market. Last year, a total of 81 features surpassed the 100 million yuan box office threshold, including 47 Chinese titles. （全文见周六微信。）

Jason Burack of Wall St for Main St welcomed back returning guest, former Wall St executive, whistle blower and author Nomi Prins http://www.nomiprins.com/During this 40+ minute interview, Jason starts off by asking Nomi about her new book, All the Presidents' Bankers, and according to her research when did Wall St try to start buying off/controlling US presidents. Nomi talks about how she started her book in the late 19th century (1800s) and bankers like JP Morgan started cozying up up to bankers then and they ran in the same social and partying circles. Nomi talks about how money and political power enjoy each other's company. Jason and Nomi talk about the Creature from Jekyll Island and then about FDR and how FDR secretly met with lots of Wall St bankers according to Nomi's research for her book. Next, Jason and Nomi discuss corruption on Wall St and if it has increased since Nomi first began her career on Wall St in the 1980s. Nomi thinks corruption has increased massively because of the opaqueness of derivatives and financial products. Jason and Nomi discuss why corruption increased and Jason asks Nomi if the banks don't fear failure because of the Federal Reserve backstopping them.Jason and Nomi discuss the role central banks like the Federal Reserve play in allowing bankers, hedge fund managers, etc to take enormous risk and not fear being fired, going to jail, etc. Next, Jason and Nomi discuss the global economy and why she thinks China is close to announcing a large QE program. Nomi thinks central bankers are coordinating their QE programs to help keep interest rates low and asset prices propped up. She thinks this can continue at least for awhile longer until interest rates go to zero in every major economy. Jason asks Nomi about why China, Russia and other G20 countries are creating the Asian Infrastructure Investment Bank, an alternative SWIFT system and doing enormous currency swaps and bilateral trade agreements. Nomi thinks many economic and political elites know the status quo is collapsing. To wrap up the interview, Jason and Nomi talk about the sickening amount of corruption in politics and if anything can be done to reduce the corruption. 

The advent of the Asian Infrastructure Investment Bank, sometimes called a Chinese-led rival to the World Bank, is one of the most genuinely interesting developments in global affairs. Thought not yet operational, it is being formed despite the strong opposition of the USA. The creation of the AIIB, with many US allies joining as founding partners, reflects the rise of China, waning American global influence, the declining relevance of international institutions created after World War Two, and the ways in which political polarization in the USA is influencing global affairs. Or does it? Scott Morris of the Center for Global Development is on the line to discuss the the new bank and why it matters to international development and international relations.  This is a super interesting conversation about a key development in global affairs. 

In this episode, we bring you a reading from 求是网 about Beijing's proposed Asian Infrastructure Investment Bank, or AIIB. If you'd like to read along, follow the link below: http://www.qstheory.cn/wp/2015-03/15/c_1114645311.htm

57 countries including two from Africa are among the founding members of China's new development bank, the Asian Infrastructure Investment Bank. While the new bank's primary objective will be develop infrastructure projects in Asia, as its name suggests, there is widespread anticipation (mixed with some hope) the bank will expand its scope of work to eventually include Africa and beyond. Tsinghua University Associate Professor and Resident Scholar at the Carnegie–Tsinghua Center for Global Policy, Dr. Tang Xiaoyang, joins Eric & Cobus this week to discuss the new AIIB and what implications it could have on development finance in Africa.

On this show, News Today examines the Asian Infrastructure Investment Bank, the new Chinese-led institution . We then report on a series of so-called “teach-ins” occurring across Princeton University’s campus in conjunction with a student-led divestment initiative. After, we bring you excerpts from a speech by Dr. Lawrence Steinberg on the importance of adolescent development. To close out the hour, Joan Bedinger reviews Noah B and Hayley Roth takes us to a weekend performance of some of Duke Ellington’s most famous work.

Listen to Eric Sprott share his views on the economy, the effect of the Asian Infrastructure Investment Bank on the US dollar, banking turmoil and the potential of bail-ins, and the movement of gold this week. Tune-in to the Weekly Wrap Up!

China’s new Asian Infrastructure Investment Bank has been attracting many nations that are typically within the sphere of American influence, the World Bank's U.S. appointed president has vowed to find "innovative" ways to work with a new Chinese-led Asian infrastructure bank, Gold futures fall, and More...

Het doet de Verenigde Staten en Japan knarsetanden: steeds meer westerse landen, waaronder Nederland, willen meedoen met de ‘Asian Infrastructure Investment Bank' (AIIB). Dat is de nieuwe Chinese investeringsbank die er eind dit jaar moet komen. Ook andere grote internationale organisaties zoals het Internationaal Monetair Fonds (IMF) en de Wereldbank kijken met een schuin oog naar China's nieuwste economische project. Want tot nu toe zijn zij op het wereldtoneel de belangrijke economische spelers. Maar voor hoelang nog? In ons Geobureau nemen we de Chinese investeringsbank en de veranderingen in de economische verhoudingen onder de loep met drie experts: Frank Heemskerk, oud-staatssecretaris Economische Zaken en nu bewindvoerder bij de Wereldbank in Washington. Ook met Age Bakker, oud-bewindvoerder bij het IMF en emeritus hoogleraar monetaire en bancaire vraagstukken aan de VU, en sinologe Ingrid d'Hooghe, eigenaar van adviesbureau China Relations en verbonden aan het Instituut Clingendael.

On this week's broadcast, economist Jerry Robinson explores Europe's recent decision to join Beijing's Asian Infrastructure Investment Bank, a sworn challenger to the World Bank.

详细内容请关注周日微信，或登录以下网址： http://english.cri.cn/7146/2014/11/24/2582s853652.htm This is NEWS Plus Special English. I'm Yun Feng in Beijing. Here is the news. The "Belt and Road" initiatives raised by China to revive the ancient Silk Road and promote shared prosperity are set to make a profound long-term positive impact on Asia and the world. A latest development came when Chinese President Xi Jinping announced recently that China would set up a Silk Road fund worth 40 billion U.S. dollars to support infrastructure, resources, industrial and financial cooperation and other projects related to connectivity for countries along the "Belt and Road". The initiatives are a land-based belt from China via Central Asia and Russia to Europe, and a maritime Silk Road through the Strait of Malacca to India, the Middle East and East Africa. Experts say that the initiatives will create trade and investment opportunities in infrastructure and construction, including transportation, ports, pipelines, power generation and environmental projects, as well as stimulating energy and resource exchanges, consumption and tourism. The initiative is underpinned by a win-win approach and a strong desire from China to export excess capacity, invest abroad and diversify its foreign exchange reserves. China has competitive edges in capital and expertise, while many Asian countries face large financing gaps. The establishment of the China-led Asian Infrastructure Investment Bank in October demonstrated the regional desire to cooperate. This is NEWS Plus Special English. The Chinese government will spend 430 million yuan, roughly 70 million U.S. dollars, to support domestic art projects in a drive to boost the country's cultural influence. As part of the China National Arts Fund, a state fund in its first year, the money will go to some 400 projects in four categories, including stage productions, paintings and photography, communication and exchange, as well as talent cultivation. The fund was in line with President Xi Jinping's remarks last month urging the country's artists to create more works that are artistically outstanding and morally inspiring. Xi regards art and culture as an indispensable contributor to the Chinese dream of national rejuvenation. The lion's share of the fund, 230 million yuan, will go to stage art such as dramas, musicals, traditional local operas and children's plays. More than 70 productions, including stage plays, songs, photography and opera, drew inspiration from the "Chinese dream" theme. Applications were received between June and August. Winners of the funds will be publicized by the end of the year, with one in ten being awarded. You are listening to NEWS Plus Special English. I'm Yun Feng in Beijing. The World Internet Conference has made its grand debut in Wuzhen, a picturesque riverine town in east China's Zhejiang province. The conference is jointly sponsored by the Cyberspace Administration of China and the Zhejiang provincial government. As the world's largest developing country, China has the largest number of Internet users and potentially qualifies as a competitive candidate to build a broadly representative and truly open platform for a new round of dynamic growth of the global Internet industry. The Wuzhen World Internet Conference is the first international Internet event held in China, and the first gathering that draws participation from the world's elitist leaders in the Internet realm. It is also the first panoramic showcase of the achievements of the Chinese Internet trailblazers, and the first world-level cyberspace summit meeting that is named after an ancient town. Under the theme "An Interconnected World Shared and Governed by All", the first conference is composed of 13 forums on current topics of interest regarding Internet management, mobile Internet, Internet safety, and a special session about the role Zhejiang plays in the Internet scene of China. Wuzhen has been chosen as permanent venue for the World Internet Conference. This is NEWS Plus Special English. China and Australia have vowed to deepen cooperation in Antarctica. A memorandum of understanding has been signed between the two countries in Hobart, Australia, when China's only icebreaker, Xuelong, was berthed at the port city to take on supplies on its 31st mission to Antarctica. Under the memorandum, a joint committee that will meet every two years will be established to oversee the cooperation, and a mechanism for environmental, policy, scientific and operational collaboration in Antarctica will be built. A platform for Antarctic official and academic exchanges will be established; and under the memorandum, Australia will be a gateway to Antarctica.