Opinion | How an SCO development bank could shift the global financial order

At the 25th Shanghai Cooperation Organisation summit in Tianjin this week, Chinese President Xi Jinping urged member states to accelerate the creation of an SCO development bank , a proposal that could mark a turning point in Asia's financial landscape. While headlines focused on the high-profile presence of Russian President Vladimir Putin and Indian Prime Minister Narendra Modi, Xi's proposal points to the SCO's evolution from a security bloc into a financial actor. Advertisement Xi also pledged US$1.4 billion in loans over three years to SCO states and called on the bloc to reject the Cold War mentality, rival blocs…