In an interview with Ta Kung Pao, Dr. Geoff Raby expresses why Australia's refusal to become a founding member of the AIIB was a grave misstep, his support for China's constructive role, and his positive outlook on further Asia-Pacific economic development.

"We applaud China's initiative in establishing the AIIB. My own personal view is that it was a mistake for Australia not to be one of the founding members. I'm sure we will join at some stage - I think it's an idea whose time has come, and it's inevitable that such an institution will become a significant part of the regional arrangements."

He goes on to say, "For 30 years we've watched the centre of gravity move to Asia. The second-biggest economy in the world quite legitimately has the right to build institutions in the region that reflect the new order, the new weight in the world economy. That's why i think we need to be a part of it. Even if there's not a commercial dimension, the systemic aspect is very very important.

Watch the full interview on Ta Kung Pao:

http://news.takungpao.com/world/exclusive/2014-11/2812168_2.html