Flags flutter ahead of the opening session of Chinese People's Political Consultative Conference (CPPCC) at Tiananmen Square in Beijing (REUTERS/Kim Kyung-Hoon).

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Welcome the new AIIB

April 9, 2015, David Dollar

The positive response to the establishment of the China-backed Asian Infrastructure Investment Bank is indicative of a hope that the new bank can be more efficient than the existing ones. It may even stimulate positive reforms that makes the whole development bank system more effective in achieving its aims. 

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