Instead, the AIIB will focus on economic development—particularly investing in Asia’s enormous infrastructure needs—and will be based on the rule of law, he said.
US position on investment bank risks isolating it from its partnersThe Obama administration’s mishandling of the emergence of the Asian Infrastructure Investment Bank (AIIB) has meant that the United States now finds itself sitting outside the Chinese-led organization that includes many of Washington’s most significant regional and global partners and promises to be a key driver of regional development.
Ukraine Can Learn from Baltic States’ Experience with Reforms, says Lithuania’s Ex-Prime MinisterAs it struggles to fix its economy, Ukraine would do well to study the reforms successfully implemented by three fellow former Soviet republics in the Baltics, Andrius Kubilius, Lithuania’s former Prime Minister said April 16 at the Atlantic Council.
“I was Prime Minister twice, on both occasions during a quite difficult economic crisis in Lithuania,” said Kubilius who led his country from 1999 to 2000 and again from 2008 to 2012. “Perhaps I have some knowledge what to do during a crisis, but not so much on what to do when life is beautiful.”
Dip in oil prices, European Central Bank’s bond-buying program seen as boonThe European economy is slowly recovering from a double-dip recession aided in part by falling oil prices and a $1.2 trillion bond-buying program by the European Central Bank (ECB), a senior European Commission official said April 16.
“We are seeing the European economy gradually recovering; we are seeing the recovery is actually strengthening; and we believe we have the right policy mix with boosting investments, renewed forms of structural reforms, and fiscally responsible policies,” Valdis Dombrovskis, the European Commission’s Vice President for the Euro and Social Dialogue, said at a meeting hosted by the Atlantic Council’s Global Business and Economics Program.
Terrorist group’s plans to expand to South Asia seen hamstrung by its depleted financesA sharp drop in world oil prices and the presence of other terrorist groups will make it hard for the Islamic State in Iraq and al-Sham (ISIS) to establish a foothold in South Asia, said Omar Hamid, head of Asia Pacific Country Risk at IHS, a global analytics firm.
ISIS and al-Qaeda face problems in Afghanistan, Pakistan, and India because there are “already very strong, established local entities there,” Hamid said at an April 13 event hosted by the Atlantic Council’s South Asia Center. “They are not walking into an empty canvas, and there is a limited pie in terms of recruits and funding.”
“Almost certainly, if they do chose to focus on South Asia they will come up against the local actors who will not have any sort of fraternal instinct for them,” Hamid said in a discussion moderated by Shuja Nawaz, Distinguished Fellow at the South Asia Center.