SHAFAQNA PAKISTAN (Shia News Agency)
There is an increasing sense across the world that China would soon replace the US as world super power, as it has rapidly increased its economy to manifolds and it is clear that to establish hegemony on the world, as strong economy is the key. US is quite aware of the situation and trying to confront China’s interests on number of fronts. This is the very reason that Obama administration is vehemently opposing the China’s venture into multilateral lending , and is now standing more isolated than the country they sought to isolate. US has been trying to twist the facts that China’s initiative of Asian Infrastructure Investment Bank is undermining the World Bank. It is just a ploy to raise the fears among the Western world. The question is that Whether the World Bank is the only authority to deal with the World’s infra-structure and social development sector? And Second thing is whether World Bank is actively catering the demands of the rising needs of development especially in the third world? Infact World is a bigger place and alone World Bank is not capable of catering the soaring demands, thus its gives a plenty of rooms for the multiple agencies to take this task. China has a growing sense of taking the leading role in development to expand its influence across the world but ultimately it benefits the third world. The painstaking attention being given to governance issues these days is another indication that the bank is likely to be a more serious multilateral enterprise, and not an arm of Beijing’s foreign policy as the US has implied. Thus rather than politicizing this issue US should help out China in this gigantic task, if US really cares the betterment of the third world.
pakistan.shafaqna.com
