In addition, Schuknecht was Co-chair of the Infrastructure Investment Working Group of the G20. He also acted as the Chief Negotiator for Germany in the founding of AIIB, making him one of the architects of the founding of AIIB and the drafting of its Articles of Agreement. He has extensive experience working with international financial institutions, including the International Monetary Fund (IMF) and the World Bank. Prior to this role, he was Deputy Secretary-General at the Organization for Economic Co-operation and Development (OECD) and was previously Chief Economist and Director General of Germany’s Federal Finance Ministry.
Most recently, he was a Visiting Professor at the Lee Kuan Yew School of Public Policy, Singapore. Before joining AIIB, he has held important leadership posts at the national and international levels. Schuknecht is responsible for AIIB’s relations with its Members, the Board of Governors, the Board of Directors and other aspects of governance including the admission of new Members. Vice President and Corporate Secretary, AIIB Multilateral development banks have a particular responsibility in facilitating investments to help countries join GVCs, assisting in preparing sustainable projects, helping build capacity to manage these projects and protecting global commons. This will imply enforcing decarbonization throughout the chains they control for GVCs to remain viable. More importantly, as the world moves toward Net Zero Carbon, firms will increasingly be responsible for the carbon footprint of their networks. In the wake of the pandemic and faced with trade and geopolitical tensions, multinationals are examining existing networks for vulnerabilities and the effects are still being played out. The report also points to serious challenges.
Case studies of China and India demonstrate the importance of infrastructure-intensive location-based policies to complement sector-oriented horizontal industrial policies in the quest for spatially balanced development.
The report emphasizes the critical nature of infrastructure quality and capacity to the agility and resilience of GVCs. When COVID-19 struck, existing logistics systems quickly sprung back to action, minimizing the damage and bringing deliveries back to pre-pandemic levels. Despite recent slowdown in growth, GVCs continue to expand and transform economies. Accounting for close to half of total exports, GVCs continue to be an important lever for developing countries to transition from investment-led to innovation-led growth. The 2021 edition of AIIB’s publication Asian Infrastructure Finance Report focuses on global value chains (GVCs) and argues that reports on the demise of GVCs are greatly exaggerated.
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