The creation of the Asian Infrastructure Investment Bank (AIIB) is widely seen as one more affirmation of increasing Chinese power on the world stage. While the AIIB’s starting capital is a modest US$50bn, it could likely shake up development aid at the global level, challenging the current dominance of the World Bank and the Asian Development Bank. In the process, the AIIB is regarded as a challenge to American influence in the Asia-Pacific region. The US has sought to dissuade a host of allies from joining, but to little avail.
Ankara-based Anadolu Agency spoke to Willem Oosterveld about the motives that led China to creating the AIIB, and the likely impact the bank will have on relations between China and the United States. The full article can be read here (in Turkish). An English version is expected to become available later.
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