The New Development Bank: Another BRICS in the Wall?

Latino, Agostina

doi:10.1007/978-3-319-57855-2_4

Cited by 2 publications

(1 citation statement)

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“…From the early 2000s, Beijing cultivated its image as a peaceful rising power by offering bilateral economic aid, grants, and loans to developing countries. After the 2008 Global Economic Crisis, Beijing found frustrating the slow pace of governance reforms within the American-dominated IFIs (Latino, 2017;Ocampo, 2006). China had the economic capability to contribute more, but the US Congress was resistant to authorising any changes.…”

Section: Beijing's Involvement In Iosmentioning

confidence: 99%

The Asian Infrastructure Investment Bank: A Qualified Success for Beijing's Economic Statecraft

Haga

2021

Journal of Current Chinese Affairs

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In 2013, China's growing economic capacities motivated Beijing to launch a multilateral bank to advance its diplomatic agenda. Scholars are still debating precisely what Beijing seeks to accomplish through the Asian Infrastructure Investment Bank (AIIB). This article surveys the key literature on the AIIB, identifying twenty scholarly interpretations of Beijing's strategic goals. The purpose of this research is to understand Beijing's initial design for this bank and evaluate whether this new multilateral development bank can function as an effective instrument for Beijing's economic statecraft. Over its first five years, as an economic tool for Beijing, the AIIB has performed quite remarkably well. The bank not only operates smoothly, generating a reasonable amount in net income for its shareholders, but also serves Beijing's strategic purposes in expanding China's regional influence, enhancing its international status, and ascending toward global leadership.

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Section: Beijing's Involvement In Iosmentioning

confidence: 99%