Asian Development Bank

Japan will announce a $100 billion plan to invest in roads, bridges, railways and other building projects in Asia, a report said May 19, weeks after China outlined its vision for a new infrastructure development bank in the region.

Indian private banker K.V Kamath was named May 11 as the first head of a new development bank being set up by the so-called emerging BRICS nations, officials said.

By Jeff Black

Asian companies are thinking twice about their dealings with European partners as jitters persist over whether Greece will splinter the euro area, the Asian Development Bank?s chief economist said.

Since the end of the Cold War, the international system has been fluctuating. While the bipolar system has ended, no equivalent is in place yet. In the early days of the post-Cold War era, some talked about the unipolar moment as the United States dominated the world with its unrivalled economic and military power.

The president of the World Bank said on March 13 he welcomed the setting up of the China-backed Asian Infrastructure Investment Bank (AIIB), a day after Britain became the first Western nation to embrace the institution.