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Global Economic Governance between China and the EU: the case of the Asian Infrastructure Investment Bank

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  • Silvia Menegazzi

    (LUISS Guido Carli University)

Abstract

The recent establishment of the Asian Infrastructure Investment Bank (AIIB), the initiative launched by the People’s Republic of China in 2013 underpins Beijing’s intensions to promote its own narrative about global economic governance (GEG) as well as China’s readiness to play a far more proactive role at the international level. In the age of global power shifting and with 14 EU member-states part of the AIIB, the European Union (EU) necessitates to engage further with China, in particular, within the context of multilateral institutions. This article analyses the impact of China’s evolving global governance policies on the EU. China’s and EU’s approaches to the reform of global governance present both differences and similarities, yet, the article highlights EU’s needs to make sense to what extent China’s growing ascent in the realm of global governance is reshaping world’s regional and global architectures vis-à-vis financial multilateral cooperation.

Suggested Citation

  • Silvia Menegazzi, 2017. "Global Economic Governance between China and the EU: the case of the Asian Infrastructure Investment Bank," Asia Europe Journal, Springer, vol. 15(2), pages 229-242, June.
    • Handle: RePEc:kap:asiaeu:v:15:y:2017:i:2:d:10.1007_s10308-017-0477-2
    DOI: 10.1007/s10308-017-0477-2
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    References listed on IDEAS

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    1. Geeraerts, Gustaaf, 2011. "China, the EU, and the New Multipolarity," European Review, Cambridge University Press, vol. 19(1), pages 57-67, February.
    2. Mike Callaghan & Paul Hubbard, 2016. "The Asian Infrastructure Investment Bank : Multilateralism on the Silk Road," Finance Working Papers 25355, East Asian Bureau of Economic Research.
    3. Mike Callaghan & Paul Hubbard, 2016. "The Asian Infrastructure Investment Bank : Multilateralism on the Silk Road," Development Economics Working Papers 25355, East Asian Bureau of Economic Research.
    4. Julia Morse & Robert Keohane, 2014. "Contested multilateralism," The Review of International Organizations, Springer, vol. 9(4), pages 385-412, December.
    5. Mike Callaghan & Paul Hubbard, 2016. "The Asian Infrastructure Investment Bank : Multilateralism on the Silk Road," Macroeconomics Working Papers 25355, East Asian Bureau of Economic Research.
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    Cited by:

    1. Alessandro Del Ponte & Paolo Canofari & Audrey De Dominicis, 2021. "Financial and trade relationships between the Eurozone and China in the age of resilience," Asia Europe Journal, Springer, vol. 19(4), pages 489-506, December.
    2. Margot Schüller & Jan Peter Wogart, 2017. "The emergence of post-crisis regional financial institutions in Asia—with a little help from Europe," Asia Europe Journal, Springer, vol. 15(4), pages 483-501, December.
    3. Thomas Christiansen & Richard Maher, 2017. "The rise of China—challenges and opportunities for the European Union," Asia Europe Journal, Springer, vol. 15(2), pages 121-131, June.

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