Configuring the Asian Infrastructure Investment Bank: Power, Interests and Status


China’s participation in the global financial systemBefore 1980: prepared for engagement-2000: a rising starAfter 2000: confident but unhappyStructure of the bookI. Evolution of the AIIBAn integrative framework: power, interests, status and global responsesA revisionist instrument of powerA result of power transitionChallenging the current international financial systemSecuring strategic and diplomatic alliesTargeting strategic locations and sectorsReinvigorating China’s sluggish domestic economyA race to the bottomSatisfying the Chinese communist partyA complementary institution supporting the status quoIntegrating into the international financial systemPooling additional resourcesConnecting the developed and the developing worldsImproving efficiency through competitionStimulating a reform agenda in the international financial systemIndependent from the Belt and Road InitiativePursuing status and reputationGlobal responses to the AIIBAn integrative frameworkConclusionChina and the evolution of the AIIBPower, interests and statusThe AIIB and China’s status deficitThe launch of the AIIBWho joins the bank?Political and strategic loans?Toward a multilateral institutionThe AIIB and the Belt and Road InitiativeConclusionNotesAIIB in comparative perspectivesDebates surrounding the AIIBPower structures comparisonVoting power distribution in 2015Concentration of voting powersInstitutional designVeto powerInefficient managementMonopolization of the presidencyLoan conditionalityVariety of disciplinesA race to the bottom?Competition for loansConclusionII. Global responses to the AIIBAsia-Pacific participation in the AIIBHow Asia and Oceania view the AIIBIndia: participation and restraintKazakhstan: joining for an admission ticketIndonesia: obsession with infrastructure fundingOceania: too weak to refuseConclusionNotesEuropean participation in the AIIBExplaining Europe’s reactions to the AIIBProbability of becoming an AIIB founding memberGermany: romantic and rational encounterBelgium: enthusiastic but hesitantRomania: show me the moneyConclusionNotesCountries shunning the AIIBImminent strategic concerns and ambiguous economic interestsUnited States: a looming threat aheadJapan: stand with the patronTaiwan: sovereignty firstConclusionConclusion: Crouching tiger, hidden dragonInner ambitionOutward obedienceThe BRI and the future of the AIIBBibliography
 
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