The Palgrave Encyclopedia of Global Security Studies

Living Edition
| Editors: Scott Romaniuk, Manish Thapa, Péter Marton

Asian Infrastructure Investment Bank

  • David MorrisEmail author
Living reference work entry
DOI: https://doi.org/10.1007/978-3-319-74336-3_637-1

Definition

The Asian Infrastructure Investment Bank is a multilateral development bank established in 2016 with a mission to improve social and economic outcomes in Asia, by investing in sustainable infrastructure and other productive sectors.

Introduction

The Asian Infrastructure Investment Bank (AIIB) is a Multilateral Development Bank (MDB), established by China and 56 other member states in 2016, with initial pledged capital of US$100 billion, to address the infrastructure deficit in Asia, the world’s fastest-growing region. By bolstering finance for development, the bank promises improved economic security for its member states, most of which have unmet demand for energy and other infrastructure. The new institution represents, however, a challenge to the international system. Along with a series of other new institutions and platforms for engaging with the developing world, the AIIB marks China’s return to great power status, contributing to global economic governance alongside...

Keywords

Asian Infrastructure Investment Bank Infrastructure finance China United States Multilateralism 
This is a preview of subscription content, log in to check access.

References

  1. Aberg, J. (2016). Chinese bridge-building: The AIIB and the struggle for regional leadership. Global Asia, 11(1), 70–75.Google Scholar
  2. Asian Development Bank. (2017). Meeting Asia’s infrastructure needs. https://www.adb.org/sites/default/files/publication/227496/special-report-infrastructure.pdf
  3. Asian Infrastructure Investment Bank. (2019, November 15). AIIB Investment in India nears USD 3 Billion. https://www.aiib.org/en/news-events/news/2019/20191115_001.html
  4. Asian Infrastructure Investment Bank. https://www.aiib.org/en/
  5. Cable, V. (1995). What is international economic security?” International Affairs (Royal Institute of International Affairs), 71(2): 305–324.Google Scholar
  6. Chan, L., & Lee, P. (2017). Power, ideas and institutions: China’s emergent footprints in global governance of development aid. CSGR working paper no. 281/17, Centre for the Study of Globalisation and Regionalisation, University of Warwick. www.warwick.ac.uk/csgr/papers/281-17.pdf
  7. Chen, J., & Chen, W. (2019). AIIB reaches milestone of 100 members. China Daily, July 15. http://www.chinadaily.com.cn/a/201907/15/WS5d2b7f05a3105895c2e7d54e.html
  8. Christensen, T. (2015) The China challenge. New York: W.W. Norton and Company.Google Scholar
  9. Department of Defense. (2018). National defense strategy. Washington, DC. https://dod.defense.gov/Portals/1/Documents/pubs/2018-National-Defense-Strategy-Summary.pdf
  10. Gåsemyr, H. (2018). China and multilateral development banks. Norwegian Institute of International Affairs. https://www.nupi.no/nupi/Publikasjoner/CRIStin-Pub/China-and-Multilateral-Development-Banks-Positions-Motivations-Ambitions
  11. Gilman, N. (2015). The new international economic order: A reintroduction. Humanity, 6(1), 1–16.CrossRefGoogle Scholar
  12. Hameiri, S., & Jones, L. (2018). China challenges global governance? Chinese international development finance and the AIIB. International Affairs, 94(3): 573–593. https://academic.oup.com/ia/article/94/3/573/4992402
  13. Hodzi, O., & Chen Y. (2017). The great Rejuvenation? China’s search for a new ‘global order’. Institute for Security & Development Policy, Asia Paper.Google Scholar
  14. Hu, W. (2015). De-Sinicization can counter concerns about AIIB. Global Times, December 3. http://www.globaltimes.cn/content/956445.shtml
  15. Humphrey, C. (2015). Infrastructure finance in the developing world: Challenges and opportunities for multilateral development banks in 21st century infrastructure finance. Global Green Growth Institute Working Paper, Seoul.Google Scholar
  16. Ikenberry, G. (2011). The future of the liberal world order. Foreign Affairs, May/June. https://www.foreignaffairs.com/articles/2011-05-01/future-liberal-world-order
  17. International Institute for Sustainable Development. (2019). Budapest Water Summit. BWS Bulletin 82(36).Google Scholar
  18. Larionova, M., & Shelepov, A. (2016). Potential role of the New Development Bank and Asian Infrastructure Investment Bank in the global financial system. International Relations, 16(4), 700–716.Google Scholar
  19. Leng, A., & Rajah, R. (2019). Chart of the week: Global trade through a US-China lens. The Interpreter, December 18, Lowy Institute. https://www.lowyinstitute.org/the-interpreter/chart-week-global-trade-through-us-china-lens
  20. Liao, R. (2015). Out of the Bretton Woods: How the AIIB is different. Foreign Affairs, July 27. https://www.foreignaffairs.com/articles/asia/2015-07-27/out-bretton-woods
  21. Limpach, S., & Michaelowa, K. (2010). The impact of World Bank and IMF Programs on democratization in developing countries. CIS Working Paper 62. https://www.ethz.ch/content/dam/ethz/special-interest/gess/cis/cis-dam/Research/Working_Papers/WP_2010/2010_WP62_Limpach_Michaelowa.pdf
  22. Maliszewska, M., & van der Mensbrugghe, D. (2019). The belt and road initiative: Economic, poverty and environmental impacts (Policy Research working paper) (Vol. 8814). Washington, DC: World Bank Group.CrossRefGoogle Scholar
  23. Manyika, J., et al. (2019, May). A new look at the declining labor share of income in the United States. McKinsey Global Institute discussion paper. https://www.mckinsey.com/featured-insights/employment-and-growth/a-new-look-at-the-declining-labor-share-of-income-in-the-united-states
  24. Mearsheimer, J. (2014). The tragedy of great power politics. New York: W.W. Norton and Company.Google Scholar
  25. Muttalib, H. (2010). Singapore’s embrace of globalization and its implications for the Republic’s security. Contemporary Security Policy, 23(1), 129–148.CrossRefGoogle Scholar
  26. National Development and Reform Commission. Vision and actions on jointly building silk road economic belt and 21st century maritime silk road, Beijing, March 2015.Google Scholar
  27. Oswald, S. (2018). The new architects: Brazil, China, and innovation in multilateral development lending. Public Administration and Development, 39, 4–5.  https://doi.org/10.1002/pad.1837
  28. Overholt, W. (1993). The rise of China: How economic reform is creating a new superpower. New York: W.W. Norton and Company.Google Scholar
  29. Peng, Z., & Tok, S. (2016). The AIIB and China’s normative power in international financial governance structure. Chinese Political Science Review 1.  https://doi.org/10.1007/s41111-016-0042-y
  30. Raiser, M., & Ruta, M. (2019). Managing the risks of the Belt and Road. World Bank Blogs, June 20. https://blogs.worldbank.org/eastasiapacific/managing-the-risks-of-the-belt-and-road
  31. Shambaugh, D. (2013). China goes global: The partial power. Oxford: Oxford University Press.Google Scholar
  32. Shelepov, A. (2018). The AIIB, multilateral and national development banks: Potential for cooperation. International Relations, 18(1), 135–147.Google Scholar
  33. State Council of the People’s Republic of China. (2015, March 30). Action plan on the belt and road initiative. Beijing.Google Scholar
  34. Stephen, M., & Skidmore, D. (2019). The AIIB in the Liberal International Order. The China Journal of International Politics, 12(1), 61–91.  https://doi.org/10.1093/cjip/poy021
  35. United States Government. (2017). National Security Strategy. Washington, DC. https://www.whitehouse.gov/wp-content/uploads/2017/12/NSS-Final-12-18-2017-0905-2.pdf
  36. Woetzel, J., et al. (2019). China and the world: Inside the dynamics of a changing relationship. McKinsey Global Institute. https://www.mckinsey.com/featured-insights/china/china-and-the-world-inside-the-dynamics-of-a-changing-relationship
  37. Yagci, M. (2016). A Beijing consensus in the making: The rise of Chinese initiatives in the international political economy and implications for developing countries. Perceptions, XXI(2): 29–56.Google Scholar

Copyright information

© The Author(s), under exclusive licence to Springer Nature Switzerland AG 2020

Authors and Affiliations

  1. 1.International Relations Multidisciplinary Doctoral SchoolCorvinus University of BudapestBudapestHungary