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Is the AIIB a China‐controlled Bank? China’s Evolving Multilateralism in Three Dimensions (3D)

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  • Jiejin Zhu

Abstract

Is the Asian Infrastructure Investment Bank a China‐controlled bank? This basic question highlights the issue of the Asian Infrastructure Investment Bank’s (AIIB) international credibility, especially as a multilateral institution. AIIB president Jin Liqun recognized the ‘multilateral challenge’ for China from the outset of the planning to create the new Bank, and he understood that the new Bank would only be a real success for China if the AIIB is truly a multilateral development bank – inside Beijing circles, he added, ‘and only if the new Bank does better than the long‐established counterpart MDBs’. These sentiments were alluded to in Jin’s remarks in the Financial Times: ‘China benefited a lot from the existing international system. China needs to do something which can help it be recognized as a responsible member and maybe a responsible leader in the future… if it does well, that will enhance China’s credibility, but if this institution does not follow the international best practice, who will believe in China in the future’. Skeptics, however, question whether it is ever possible that China will allow the AIIB to develop into an actual multilateral bank.

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  • Jiejin Zhu, 2019. "Is the AIIB a China‐controlled Bank? China’s Evolving Multilateralism in Three Dimensions (3D)," Global Policy, London School of Economics and Political Science, vol. 10(4), pages 653-659, November.
    • Handle: RePEc:bla:glopol:v:10:y:2019:i:4:p:653-659
    DOI: 10.1111/1758-5899.12763
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    Cited by:

    1. Hang Luo & Lize Yang & Kourosh Houshmand, 2021. "Power Structure Dynamics in Growing Multilateral Development Banks: The Case of the Asian Infrastructure Investment Bank," Global Policy, London School of Economics and Political Science, vol. 12(1), pages 24-39, February.
    2. Ayse Kaya & Byungwon Woo, 2022. "China and the Asian Infrastructure Investment Bank (AIIB): Chinese Influence Over Membership Shares?," The Review of International Organizations, Springer, vol. 17(4), pages 781-813, October.
    3. Kaya, Ayse & Kilby, Christopher & Kay, Jonathan, 2021. "Asian Infrastructure Investment Bank as an instrument for Chinese influence? Supplementary versus remedial multilateralism," World Development, Elsevier, vol. 145(C).
    4. Laerte Apolinário Júnior & Felipe Jukemura, 2022. "A comparative analysis of the environmental and social policies of the AIIB and World Bank," Global Policy, London School of Economics and Political Science, vol. 13(5), pages 694-709, November.

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