China clean energy Jiang Aiping/ZumaPress

Más ecología para el sistema financiero chino

PEKIN – La creación por China del Banco Asiático de Inversión para Infraestructura (AIIB, por su sigla en inglés) ha intensificado el debate sobre si una nueva generación de bancos de desarrollo liderados por países emergentes es necesaria para garantizar que las decisiones financieras consideren adecuadamente los principios del crecimiento ambientalmente sostenible. Mucho más importante, sin embargo, resulta si esos principios son capaces de apuntalar a los mercados de capitales más amplios de los países en desarrollo, cada vez más fundamentales para el sistema financiero internacional.

La respuesta, al momento, parece ser positiva. De hecho, China y otras grandes economías emergentes parecen estar comprometidas con el diseño de sistemas financieros que respondan a los imperativos de largo plazo del desarrollo inclusivo y sostenible, pero no pueden crear una economía mundial genuinamente inclusiva y sostenible por sí solas.

Los vehículos de inversión orientados a políticas, cuya cantidad e importancia han aumentado en los últimos años, son fundamentales para este esfuerzo. Si bien el AIIB y el Nuevo Banco de Desarrollo –de próxima aparición y propiedad de los BRICS (Brasil, Rusia, India, China, y Sudáfrica)– son los más visibles internacionalmente, esa es solo la punta del iceberg. Conjuntamente, los dos mayores bancos de desarrollo del mundo –el Banco de Desarrollo de Brasil y el Banco de Desarrollo de China– administran aproximadamente 1,5 billones de dólares en activos.

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