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      天发国际娱乐官网:TheAIIBisamajorchangeinthisrespect.LedbyChina,ithasevolvedasaninternationalfinancialinstitutionthataimstogivemuchgreaterspacetoemergingmarketsininstitutionaldecision-makingandprojectfinancing.Intheprocess,ithasattractedcountriesthatarewillingtocontributetoaglobalfinancialarchitectureledbyChina.WhiletheAIIBhasmovedforwardonthelinesofamulti-countryinitiative,thereislittledoubtabouttheleadershipthatChinahasbeenproviding.GivenChina'srapideconomicgrowthformorethanthreedecadesandthegeostrategicinfluenceithasacquiredasaresultofthat,Chinaisnowamajorpowerandaprominentglobalplayer.AnyinitiativeledbyChina,evenifforeconomicdevelopmentthroughinfrastructurebuilding,isboundtoraisequestionsaboutthecountry'sstrategicinterests.TheAIIB,too,isboundtofacesuchquestions.ThesuccessoftheAIIB,tillnow,isbasedonmovingforwarddespitebeinglabeledbymanyasaninitiativebyChinatoexpanditsglobalstrategicinfluence.ButmoreandmorecountrieshavebeenjoiningtheAIIB,anditsmembersincludeseveralcountriesthatareprominentplayersintheIMFandWorldBank.SomeofthesecountriesarealsodefenseandstrategicalliesoftheUnitedStates.ObviouslydisturbedbytheAIIB'sincreasinginfluence,theUShasbeentryingtopersuadeitsalliestostayawayfromit.However,severalUSallies,includingmajoreconomiessuchasAustralia,France,Germany,theUnitedKingdom,andmostrecentlyCanada,havejoinedtheAIIB.Themostlynon-regionalcommitmentofthesemajoreconomiestotheAIIBisindicativeofthebank'spositiveappealtotheglobalcommunityasafinancialinstitution.Inthisrespect,thesecountrieshavenothesitatedtoirktheUSinchoosingtojointheAIIB.SuchachoicebyseveralUSalliesreflectstheflexibilitythesecountrieswishtohavewhenmakingstrategicdecisions.TheissueofchoiceformostmajoreconomiesalsopointtotheemergenceofanothernarrativearoundtheAIIB.Itscommitmenttoinfrastructurebuildingisexpectedtobeatriggerforgeneratingfresheconomicmomentumatatimewhenmanycountriesfaceslowerorzeroeconomicgrowthbecauseoftherisingtrendofanti-globalizationandprotectionism.Indeed,inthiscontext,theAIIBcanbeseenasaforumandinitiativefortakingforwardglobalization.Whileglobalizationisexperiencingabacklashinthedevelopedworld,developingcountriesandemergingmarketsstillsupportfreetrade,becausetheybelieveitbringsconsiderablebenefits.TheAIIBcanbeusefulinthisrespect,byfundinginfrastructureprojectsthatincreasethecapacitiesofitsmembercountriestoparticipateinglobaltradethroughlastingvaluechains.Assuch,muchofthegoodwillenjoyedbytheAIIBisbecauseofthegainsitcanbringforrechargingglobalization.TheauthorisaseniorresearchfellowattheInstituteofSouthAsianStudies,NationalUniversityofSingapore.

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