%0 Journal Article
%T China's new multilateral statement: The Asian infrastructure and Investment Bank
%A Santiago Jaramillo Jaramillo
%J -
%D 2016
%X The creation of the Asian Infrastructure and Investment Bank (AIIB) was one of the lasts movements that confirmed the new found place of People¡¯s Republic of China not only as major exporter, but as a new pillar of the world economy. This instalment comes at a time where Asia and other powers come to terms not only of trove of opportunity out of incredibly robust economic ties, but the anxiousness from facing a new found rival for other powers, or the revival of old disputes in the eyes of neighbours. Beijing has ensured that its dominance upon the bank¡¯s structure and decisions since this bodies often need a major power as guarantor of its functionality. Plus, other similar institutions have been relatively successful but no immune to criticisms and risks like decision-making deadlock out of diverging interests from constituents. To prevent this, the AIIB must be able to produce tangible results, grant a membership worthy of being universal, develop a set of core specific policies and prove to be able to adapt in wake of a traumatic situation. Despite of this, the bank has been in existence for little over a year and the fulfillment of the prior challenges remains to be seen
%K AIIB
%K People¡¯s Republic of China
%K United States of America
%K International Monetary Fund
%K World Bank
%K economic ties
%U http://publicaciones.eafit.edu.co/index.php/map/article/view/4442