China, Multilateral Banking and Geopolitics

Improving global governance
Posted Oct 12, 2020 | Center for Security Studies, Chris Humprey, Linda Maduz

China’s recent foray into multilateral banking has brought it multiple financial and geopolitical benefits, argue Chris Humprey and Linda Maduz in this analysis for the Center for Security Studies (CSS). China recently opted for the creation of alternative institutions, launching two new multilateral development banks in 2016, the Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB), with 103 member countries and five member countries respectively. The authors suggest that the establishment of new multilateral institutions championed by China, challenges the US-dominated global order. Building new institutions falls short of outright opposition to the existing regime, but poses a challenge to the Western-led status quo as they act as nodes of a new international governance structure led by China.


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