38 North: AIIB Could Be Tool for Engagement with N. Korea

Write : 2015-05-27 09:18:24 Update : 2015-05-27 09:44:21

38 North: AIIB Could Be Tool for Engagement with N. Korea

An expert on the North Korean economy has suggested that the Asian Infrastructure Investment Bank (AIIB) could be a tool for productive engagement with North Korea.
 
Bradley Babson wrote on North Korea-focused Web site 38 North on Tuesday that the AIIB may provide an incentive for the North to carry out political and economic reforms and could strengthen security in East Asia.
 
The former World Bank official said a gradual, phased approach could begin by according North Korea an observer status within the AIIB.
 
He added the United States and Japan should consider welcoming North Korean engagement with the bank, if only for its potential to offer Pyongyang meaningful new incentives to take concrete actions that would address international concerns about its nuclear and missile programs.
 
Emerging Markets, a London-based Internet news outlet, reported in March that North Korea had expressed interest in joining the AIIB, but was rejected by China as Pyongyang failed to provide detailed information on its financial and economic conditions.

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