Structural shifts

Print edition : February 19, 2016

China Railway's Harmony Bullet trains at a maintenance base. China is banking heavily on infrastructure projects, one of which is the Hungary-Serbia railway. It will cut the travel time between Budapest and Belgrade from eight to three hours. Photo: REUTERS

The AIIB headquarters in Beijing. Photo: China Daily/Reuters

Jin Liqun, president of the AIIB. Photo: Andy Wong/AP

Suma Chakrabarti (left), president of the EBRD, with Chinese Premier Li Keqiang in Bejing on January 15. Photo: Mark Schiefelbein/Reuters

Three development banks—the AIIB, launched on January 16, the EBRD and the NBD—point to the emergence of new centres of power and influence in the global financial architecture.
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