Last year, China proposed to establish a new international lending institution that will exclusively lend money for the construction of large-scale infrastructure projects in Asia. The proposed institution was tentatively named the Asian Infrastructure Investment Bank (AIIB). Many countries expressed their willingness to participate as founding members, and the high expectations for this new lending institution remind us of the fact that there still exists a huge need for large-scale infrastructure in the region. Anybody who has ever been to developing countries, regardless if they visited urban areas or rural areas, could understand those countries' acute need for new and modern infrastructure in many sectors, particularly, transportation, energy,education, agriculture, and so forth.
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