For example, standards and regulations governing the bank may lead to conflicts over upholding standards and making practical decisions.

The AIIB aims to use a variety of channels, including loans, equity investments and guarantees, to boost investment in many sectors such as agriculture, energy, telecommunications, transport and urban development.

And while it is widely accepted that infrastructure projects involve a certain amount of corruption, the bank should try to minimize corruption through a monitoring process.

Only with lots of discussion, experience and wise decisions can China then play the leading role while helping the members find their proper roles.

The new bank can then create a governance structure that avoids many of the problems present in existing multilateral institutions.

It can then set higher standards for international governance and even prompt reforms in existing institutions.