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| The AIIB will provide too vital to China’s prestige, and to the authority of the Xi Jinping’s administration, to be allowed to wither or to be kicked into the tall grass, as the AIF was. |
On the surface at least, China’s efforts to create a $50 billion, Asia-focused development bank to compete with the likes of the World Bank and the Asian Development Bank are going swimmingly. Beijing has spent much of the year courting around 20 nations in the hopes of launching its much-hyped Asian Infrastructure Investment Bank sometime, it hopes, in 2015 or early 2016.
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