The Asian Infrastructure Investment Bank

Abstract

Abstract In 2016 the Asian Infrastructure Investment Bank (AIIB) opened its doors as China’s first major foray in creating and leading an international organization with global membership. The AIIB is a paradox as a liberal institution created by an illiberal regime. Today the AIIB is a medium-sized multilateral development bank (MDB) with a global membership second to the World Bank’s. This book offers a comprehensive explanation of the factors behind the birth and the design of the AIIB and examines the AIIB in a larger context of Chinese development finance strategies. The bank designed by a group of state and multilateral development bank (MDB) experts, and designed to be deeply networked with other MDBs. While it is largely cut from the same cloth as other major MDBs, it also faces similar criticism. The analysis is a reminder that more nuanced approaches are necessary to understand why and how China’s institutional strategies show great variation, and that at a more macro level, China is neither solely a status quo power nor a revisionist power intent on subverting institutions and norms of the global order.

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