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AIIB and Internet lighting the way for each other

Editor: Li Kun 丨CCTV.com

12-21-2015 17:14 BJT

By Hou Jun, Phd., International Relations, China Foreign Affairs University and Sun Changsheng, Master, International Relations, China Foreign Affairs University

At the opening ceremony of the 2nd annual World Internet Conference (WIC) on Dec. 16, the AIIB (Asian Infrastructure Investment Bank) President-designate Jin Liqun delivered a  speech, "Building a Digital Silk Road for Win-Win Cooperation" to elaborate on Internet technologies, along with the bank's governance and operations.

 
The AIIB is an emerging international organization, which is new and different from the existing World Bank (WB) and Asian Development Bank (ADB).

He said, "The AIIB is supposed to be an emerging international multi-lateral organization with a governance pattern of the 21st century." The AIIB was born in our Internet times.

"We need to make full use of existing technologies, particularly big data to enable AIIB professionals to make accurate, scientific and reasonable analysis on the infrastructure needs of each country," he said.

The AIIB is dedicated to infrastructure investment, placing emphasis on Internet development. Jin added, "The AIIB would favor investment on back up projects concerning infrastructure and mutual connections, step-by-step."

His brief speech demonstrates the relationship between the AIIB and Internet development, which would mean the AIIB and the Internet light each other's way, hand in hand.

Internet technologies, such as big data and cloud computing have integrated the AIIB with innovative operations, while the AIIB finances Internet construction. The AIIB has a different start from the ADB, only when it is matched with Internet development can the AIIB be endowed with a bright future.

It offers a unique style of leadership and organization that is distinguished from a traditional framework. The significance of AIIB lies in its values, which complement the existing international finance system.

The Internet era is an opportunity and also a challenge to the AIIB. The bank enjoys its status as a first-mover, as well as second-mover advantages. It can learn from other multi-lateral financial organizations to avoid existing disadvantages.

The AIIB would support projects concerning infrastructure that connect more closely with the Internet via smart devices, and drive the growth of traditional manufacturing industry through innovations.

"Ride the horse and I will show you the right path," as quoted from a poem by famous ancient Chinese poet Qu Yuan, which portraits the great potential power that could be generated by "the AIIB plus Internet".

 

( The opinions expressed here do not necessarily reflect the opinions of Panview or CCTV.com. )

 

 

Panview offers a new window of understanding the world as well as China through the views, opinions, and analysis of experts. We also welcome outside submissions, so feel free to send in your own editorials to "globalopinion@vip.cntv.cn" for consideration.

Panview offers an alternative angle on China and the rest of the world through the analyses and opinions of experts. We also welcome outside submissions, so feel free to send in your own editorials to "globalopinion@vip.cntv.cn" for consideration.

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