Britain Strongly Supports Asia Investment Bank, Indicating Its Eastward Shift Of Foreign Trade Focus.

On the 12 th, Britain submitted a confirmation letter to the Chinese side to join the Asian infrastructure investment bank (asib) as an interested Member.

Experts have said that the British decision is in line with its own interests and reflects its pragmatic attitude towards the development of foreign trade and economic relations.

Ke Chengxing, a professor at the school of political economy, told Xinhua that this move shows that Britain will shift the focus of foreign trade and economic policy to a better platform and wider space for its economic development.

He quoted Germany's example as saying that Germany's exports to the United States were larger than other parts of the world in the past, but after the financial crisis, Germany adjusted the focus of foreign trade and economy and vigorously moved eastward.

At present, Germany's exports to Asia, especially the Asian emerging market countries, are far ahead of that of the United States, and the German economy has also become an important driving force for the euro area's economic growth.

In view of the United States' view of Britain's decision, Ke Chengxing believes that the world economic gravity has changed a lot, and the economic weights of emerging economies and developing countries in 2014 have surpassed those of developed countries.

But it is certain that what is good for the global economy is also good for the United States.

London

The chairman of the resources committee, Mr Bao Mo Kai, told reporters that the Asia Investment Bank will provide more capital channels for infrastructure development in the Asia Pacific region.

Britain has a leading position in infrastructure, advanced engineering projects, financial services and green technology. Asian economies are increasing rapidly in demand for sustained growth.

He said: "Britain is more involved in these areas and can create new ways to support the development of comprehensive strategic relations between the UK and its Asian partners."

Chief economic adviser to mayor of London

In an interview with reporters, he also said that the demand for infrastructure in Asia was huge.

The Asian Development Bank has quoted data that Asia needs to raise 8 trillion US dollars for infrastructure in the next ten years.

The advantages of the UK in geographical location and pportation and logistics enable it to play an important role in the world's major financial projects.

It is a great opportunity for the Asian region to have sufficient savings resources to invest in local projects, and it is also the reason why the United Kingdom is actively involved.

He agreed with the British view that the establishment of Asia investment bank would complement the work of multilateral development banks such as the world bank and the Asian Development Bank.

He said that all kinds of development banks can coexist completely, because the market demand and opportunities are huge and diverse. Asian investment bank can find and fill the vacancies that the institutions can not cover in the investment of infrastructure projects.