The Asian Infrastructure Investment Bank: Multilateralism on the Silk Road
Mike Callaghan and
Development Economics Working Papers from East Asian Bureau of Economic Research
Chinaâ€™s first attempt to establish a multilateral financial institution was met with some suspicion and caution in the west. According to one interpretation, China is frustrated with the United Statesâ€™ reluctance to cede it power at the International Monetary Fund (IMF) and the World Bank, and so is attempting to usurp the United Statesâ€™ economic leadership by creating its own institutions to rival the Bretton Woods institutions, starting with the Asian Infrastructure Investment Bank (AIIB). The AIIB, according to its critics, will not be a true multilateral institution committed to common objectives. Instead it will be a vehicle for China to advance its own unilateral strategic objectives in Asia at the expense of the US.
JEL-codes: E02 F21 G24 (search for similar items in EconPapers)
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