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The Asian Infrastructure Investment Bank: a qualified success for Beijing's economic statecraft
[journal article]
Abstract 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 th... view more
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.... view less
Keywords
China; investment policy; economic policy; multilateralism; foreign policy
Classification
International Relations, International Politics, Foreign Affairs, Development Policy
Free Keywords
Asiatische Infrastrukturinvestmentbank; Außenwirtschaftspolitik; Entwicklungsinstitution; Entwicklungsorganisation; Internationale Entwicklungsbank; One-Belt-One-Road-Initiative; Supranationale Entwicklungsbank; Wechselbeziehungen Außenpolitik - Außenwirtschaftspolitik
Document language
English
Publication Year
2021
Page/Pages
p. 391-421
Journal
Journal of Current Chinese Affairs, 50 (2021) 3
Issue topic
PRC Economic Statecraft Explored: How Uniquely Chinese Are Its Characteristics?
ISSN
1868-4874
Status
Published Version; peer reviewed