Liang Haiming: China'S Layout Of The Asian Economy Through APEC?

The 2014 Asia Pacific Economic Cooperation Conference (APEC) annual meeting and leaders summit will be held from 10 to 11 this month in Beijing.

The theme of this year's APEC Leaders Conference is "building an Asia Pacific Partnership for the future". The outside world's eyes are mainly focused on the Chinese government's focus on the Asia Pacific Free Trade Area.

However, many people have neglected that the Chinese government, as the host country of APEC, has not only arranged the "host partner dialogue conference", but also set up the "Asian infrastructure investment bank" (Asian investment bank), which is not only to build a bridge of cooperation between APEC economies and non economies, and to strengthen the infrastructure of interconnection. It also shows that the Chinese government hopes to promote regional economic integration in Asia with the help of APEC platform, and shows that China is gradually promoting the strategic goal of "one belt along the way" (the Silk Road Economic Belt and the twenty-first Century Maritime Silk Road).

In addition to the US's anxiety and openly opposed to the creation of Asia Investment Bank, Australia, South Korea and Indonesia are also limited by the position of the White House.

Although the United States explained that they objected to the reasons for expressing concern about China's ability to ensure that the bank's governance level reached international standards, I believe the US government was lying, and the real reason why the United States was against it was to know who had controlled the development of a country. Even when Asian investment bank was founded, it said it would uphold financing and financing. Other problems respected the principle of "non-interference in internal affairs" by all countries, but the United States was still afraid that China would rely on Asian investment banks to influence the development of the Asian economy and the world economy with financial forces.

However, no matter how the United States opposes it, it can not stop the operation of Asia Investment Bank. There are two main reasons for it.

First, the US led international financial system has been unsafe and difficult.

The so-called unsafe, that is, after the outbreak of the global financial tsunami in 2008, the emerging countries were surprised to find that the United States launched the three rounds of quantitative easing (QE) policy, not only printing banknotes to neighbour, but also making the US dollar no longer an absolute guarantee for asset maintenance, and exporting financial crisis to all countries in the world.

More and more countries have begun to question that the international financial system built by the United States is no longer safe.

The so-called "bad" is that in the international community, many countries are unable to obtain financial support, so that the economy is in a vicious circle.

These countries, whether lending to the world bank, IMF or other multilateral development banks, have to face some low and even unrealistic demands made by European and American countries, especially the United States, in connection with lending business. Many countries have long been disgusted with the harsh demands of Europe and America, and the idea of change has already existed.

Under the current situation that the international financial system dominated by the United States has been insecure and no longer good, the emergence of Asia Investment Bank has brought about the hope of changing the old situation. Moreover, even if the United States is overbearing again, it is not necessary for the world to borrow money from anyone to listen to the United States.

Secondly, the development of China and Asia has become the fate community.

The International Monetary Fund (IMF) estimates that China's contribution to Asia's economic growth has exceeded 50%, and China's economic growth will increase by 1 percentage points.

Grow 0.3 percentage points.

It can be said that Asia's development is inseparable from China, and China's development is inseparable from Asia.

Before the establishment of Asia Investment Bank, China has already participated extensively in infrastructure construction in various Asian countries, such as the construction of new hydropower stations in central and western Nepal.

After its creation, it will play the role of "capital pool" and provide huge funds to speed up the construction of interconnection and interconnection network in the Asian region. This will not only promote the common development of the Asian region, get the support of many Asian countries, but also solve the problem of China's huge foreign exchange reserves and overcapacity. China will then borrow money from Asia Investment Bank to use its huge foreign exchange reserves to build foreign countries.

It can boost domestic surplus infrastructure exports.

Because of the above factors, despite the strong opposition from the United States, both the world bank and the president of the Asian Development Bank welcomed the creation of Asia Investment Bank, and were willing to jointly provide financing to Asia Investment Bank.

It also shows that the Chinese government has not only managed to create an atmosphere for future Asia Pacific Partnership with APEC platform, but also highlights China's role in economic and trade integration in Asia, and shows its strong ability to plan for Asia's future development.

I believe that the upcoming APEC conference will further strengthen China's political and economic influence and voice in the Asia Pacific region.