The “Catfish Effect” in the International Financial System

To some extent, the structures of the Asian Development Bank, World Bank, and International Monetary Fund are obsolete: they can no longer meet the needs of new emerging economies and don’t reflect today’s global economy. The AIIB could serve to invigorate the other banks to become more competitive and efficient.

Ding Yifan, Deputy Director, China Development Research Center via CHINA US Focus http://ift.tt/1H3eior