"When China wanted to set up its answer to the World Bank, it picked Jin Liqun-a veteran financier with experience at the World Bank, the Asian Development Bank, China's ministry of finance and the China Investment Corporation, the country's sovereign wealth fund-to design it. Since 2014, Jin has been the force behind the Asian Infrastructure Investment Bank, including a decade as its first president, starting in 2016."
"When Jin took over the AIIB ten years ago, the world was still mostly on a path to further globalization and economic integration, and the U.S. and China were competitors, not rivals. The world is different now: Protectionism is back, countries are ditching multilateralism, and the U.S. and China are at loggerheads. The AIIB has largely managed to keep its over-100 members, which includes many countries that are either close allies to the U.S.-like Germany, France and the U.K."
Jin Liqun has decades of experience at the World Bank, the Asian Development Bank, China's ministry of finance, and the China Investment Corporation. Since 2014, he designed and led the Asian Infrastructure Investment Bank and served as its first president from 2016 until handing over the presidency on January 16. The international environment shifted from deeper globalization to rising protectionism and U.S.-China rivalry. The AIIB preserved more than 100 members, including U.S. allies Germany, France, the U.K., and countries with tensions with Beijing such as India and the Philippines. Jin supports multilateralism and argues that countries cannot act alone when negotiating trade and cross-border investment.
Read at Fortune
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