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Feb 2016 | THE FEBRUARY ISSUE

WILL CANADA MISS ITS OPPORTUNITY TO SHAPE BRETTON WOODS 2.0?
EVA BUSZA, IRIS JIN, & PAULINE STERN, ASIA PACIFIC FOUNDATION OF CANADA

This past summer, representatives from 50 countries met in Beijing to sign on as founding members of the Asia Infrastructure Investment Bank (AIIB), a new multilateral development bank that will provide infrastructure investment loans to Asia. Canada was not among the countries taking up a pen in the Great Hall, nor was it one of the 57 countries that indicated an interest in joining this new and powerful club. This was a missed opportunity—an opportunity to be in on the ground floor in shaping a multilateral institution that is likely to play a key role in the future economic development of the Asia Pacific region. A possible opportunity to shape what may turn out to be a founding institution of Bretton Woods 2.0.

 

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