China, Multilateral Banking and Geopolitics
China’s recent foray into multilateral banking has brought it multiple financial and geopolitical benefits, argue Chris Humprey and Linda Maduz in this analysis for the
Center for Security Studies (CSS). China recently opted for the creation of alternative institutions, launching two new multilateral development banks in 2016, the
Asian Infrastructure Investment Bank (AIIB) and the
New Development Bank (NDB), with 103 member countries and five member countries respectively. The authors suggest that the establishment of new multilateral institutions championed by China, challenges the US-dominated global order. Building new institutions falls short of outright opposition to the existing regime, but poses a challenge to the Western-led
status quo as they act as nodes of a new international governance structure led by China.
https://css.ethz.ch/content/dam/ethz/special-interest/gess/cis/center-for-securities-studies/pdfs/CSSAnalyse272-EN.pdf
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