October 23, 2014
Making Bank
Later this week, the Chinese government will convene a multilateral meeting in Beijing that is either an act of enlightened global leadership or a not-so-subtle effort to undermine and supplant the Western-led international order.
The issue at stake is China's efforts to create the Asian Infrastructure Investment Bank (AIIB), a multilateral lending institution charged with providing much-needed upgrades to the region's communications, energy, and transportation networks. With China set to provide half of the initial $50 billion, the remaining funds are slated to come from Southeast Asia, South Asia, and the Middle East. Officials from at least 20 founding members are expected to gather in Beijing on Oct. 24 for a signing ceremony to establish the organization, which will be followed by negotiations at a later date to hammer out rules for how the institution will actually function.
Read the full article at Foreign Policy.
More from CNAS
-
Challenging China’s Bid for App Dominance
Commentary
Social media platforms are emerging as central to China’s efforts to shape the global information architecture....
By Kristine Lee & Karina Barbesino
-
Stories from the Backchannel: Season Two Trailer
Podcast
Now more than ever, Americans are interested in the people working behind the scenes on consequential national security decisions. In Season Two of Stories from the Backchanne...
By Ilan Goldenberg, Richard Fontaine, Susanna V. Blume, Kayla M. Williams, Price B. Floyd, Kurt Campbell & Kara Frederick
-
Defense Strategy for a Post-Trump World
Commentary
In a recent piece warning about an emerging arms race in hypersonic missiles, The New York Times quoted Will Roper, the Air Force’s senior acquisition and technology official,...
By Van Jackson
-
Total Competition
Reports
China’s coercive attempts to wield hegemonic control over the South China Sea threaten the sovereignty of Southeast Asian states and international freedom of the seas, both of...
By Patrick M. Cronin & Ryan Neuhard
