The ADB commemorates its establishment 50 years ago and reflects on the lessons learned from the Asian crisis 20 years ago. The ADB cooperates with but distinguishes itself from the AIIB and focuses on quality projects and poverty reduction. Will Europe look on as China leads the rest of Asia in setting new standards for global infrastructure and trade pacts?
The “who’s who” of Asian financial policymakers and bankers blended all too nicely with the throngs of local ‘Golden Week’ holiday revelers shuffling around Yokohama Bay. Panelists at the 50th Annual Meeting of the Asian Development Bank showed little desire to disturb the cosy conference theme of “Building Together the Prosperity of Asia.” However, this was keeping with good manners in Japan, and apart from debating the challenges ahead, the ADB’s golden jubilee meeting had plenty of history to look back on.