In defence of the Asian Infrastructure Investment Bank

One would have thought that the AIIB’s launch, and the decision of so many governments to support it, would be a cause for universal celebration. And for the IMF, the World Bank, and many others, it was. But, puzzlingly, wealthy European countries’ decision to join provoked the ire of American officials, writes professor Joseph E. Stiglitz, a Nobel laureate in economics. 
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