Trump’s protectionism does not worry China’s Asian Infrastructure Investment Bank
The benefits of free trade and cross border investment are so clear that the recently-established Asian Infrastructure Investment Bank (AIIB) is not concerned over President-elect Trump's protectionist policies.
"I think free trade and free cross border investment is important for all of the countries and we don't have to be too much worried about (Trump's protectionist views)," Jin Liqun, president of the AIIB, told CNBC on Monday at the World Economic Forum in Davos.
"Once people see the free trade and cross border investment, like what we do … I'm not very much worried actually," he added.
The AIIB was established a year ago to support infrastructure development in Asia, including on energy and power, transportation and telecommunications. In its first year it approved nine major projects. It lent $1.7 billion last year, above its initial target of $1.2 billion.
Its establishment was somewhat controversial, with some analysts seeing it as China's attempt to challenge the World Bank.
"There's no such thing as competition, actually it's close collaboration," Liqun said about the bank's relationship with the World Bank and the European Reconstruction and Development Bank.
Among its 57 members are Germany, France and the U.K., but the United states opted out.
Liqun told CNBC that the "situation varies from country to country" when deciding on their membership, but he encouraged American manufacturers to consider participating.
"We are open, we are inclusive, regardless of the membership of the United States, we are working with American professionals," he said.
"In the future we really encourage American manufactures to participate," he added.