As the world enters the third decade of the 21 st century, the liberal international order founded in the aftermath of the Second World War and has since provided a framework within which world affairs take place, is experiencing a crisis of sustainability, because while on the one hand the Western world that has created the system is going through a period where its own liberal values and norms are eroding, on the other hand the very order has not been able to accommodate the rise of non-Western powers most of which are governed by authoritarian regimes. One of these powers, China, merits greater attention, not only because it has reached the status of a global economic behemoth seeking to making rules rather than taking them by becoming an integral part of the system rather than conflicting it, but also because there is an inherent paradox to its relationship with the liberal international order: China has benefited from the liberal international order for its economic rise, yet at the same time this rise is also said to be a challenge against the very order itself. In an attempt to tackle this paradox, this essay focuses on an institutional form of this country's involvement in the governance of the international economic order, the Asian Infrastructure Investment Bank (AIIB), a Chinese-led multinational development bank that commenced operations in 2016, and investigates whether AIIB complements the structures of the existing order or aims to substitute them, in order to contribute to a better understanding of China's relationship liberal international order.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.