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
CommentaryGlobal Supply Chains, Economic Decoupling, and U.S.-China Relations, Part 1: The View from the United States
The trade war has defined the current adversarial relationship between the United States and the People’s Republic of China (PRC). While President Donald J. Trump has at times...
By Sagatom Saha & Ashley Feng
CommentaryHow China Is Exploiting the Pandemic to Export Authoritarianism
The Chinese Communist Party is now undertaking its most audacious effort yet at shaping international perceptions....
By David Shullman
ReportsForging an Alliance Innovation Base
Executive Summary This report presents a blueprint for a community of technology innovation and protection anchored by America and its allies. Unless the United States builds ...
By Daniel Kliman, Ben FitzGerald, Kristine Lee & Joshua Fitt
CommentarySharper: Global Coronavirus Response
As regions across the United States enforce states of emergency and a growing list of countries restrict travel, close schools, and quarantine citizens, the economic and human...
By Chris Estep & Cole Stevens