The Asian Infrastructure Investment Bank (AIIB): China’s new multilateralism and the erosion of the West

Abstract:

China will launch a new development bank for Asia later in 2015, called the AIIB. 58 countries worldwide have already applied to become founding members, including numerous Western nations.

This policy brief argues​ that the AIIB constitutes an important international development, as it reflects a new geopolitical reality and marks a new turn in China’s practice of multilateralism. It also looks critically at the European uncoordinated response to the AIIB, and what it tells about Europe’s shrinking role in the world.​