US has chance to maintain leadership despite China’s AIIB

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Power has shifted east

China's success in attracting members to its new Asian Infrastructure Investment Bank (AIIB) means the US must face reality and stop trying to be a global hegemon if it is to retain its leadership position in the financial world order, a leading expert on the global economy told Central Banking today.

Danny Quah, professor of economics at the London School of Economics who specialises in studying the eastward shift in global economic power, said the success of China's AIIB initiative thus far sh

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