The Asian Infrastructure Investment Bank: The Construction of Power and the Struggle for the East Asian International Order

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Palgrave Macmillan, Dec 16, 2015 - Business & Economics - 148 pages

This book assesses the strategic significance of the Asian Infrastructure Investment Bank (AIIB) by examining the logic of international power and order, historic trends in East Asian international relations, the AIIB's design in comparison to 'rival' financial institutions such as the World Bank and the Asian Development Bank, recent tendencies in Chinese foreign policy, and the Chinese system of political economy. It focuses on how China 'constructs' international arrangements at a critical juncture in history compared to other great powers, especially the United States and Japan. Viewed in isolation, the AIIB does not represent a radical departure from the existing international order; it is a hybrid institution built on China's integration into the West-dominated international structure and conditioned by the global financial market. But the AIIB does draw in part from a different institutional lineage, a different historical root, and a different national system of political economy. In this context, China's greater success will constitute a partial change to the existing international order, whatever the Chinese intention.

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China Charm is now China Action. This book is a very good reading from IPE persepective the founding of the AIIB and its political symbolic implications for US hegemony. The AIIB can be seen as a humble but steady grouping to Beijing Consensus aiming at rewriting the global finical rules and redesign the US led global financial architecture. However, all these are exagerration to some extent, as the US and Japan, two economic and political giants are still aside. The Book offers good analysis about AIIB, US china power rivalry and asian regional geopolitics. As the AIIB now a reality, going ahead will mark how it contributes, complements, or challenges existing financial system and infrastructural needs of Asia.
Only some more time will give us more insights on the issue.
 

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About the author (2015)

Ming Wan is Professor and Associate Dean at the School of Policy, Government, and International Affairs, George Mason University, USA. His recent books include The China Model and Global Political Economy: Comparison, Impact, and Interaction (2014).

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