Skip to main content Accessibility help
×
Home
Hostname: page-component-99c86f546-7mfl8 Total loading time: 0.466 Render date: 2021-12-07T10:36:58.288Z Has data issue: true Feature Flags: { "shouldUseShareProductTool": true, "shouldUseHypothesis": true, "isUnsiloEnabled": true, "metricsAbstractViews": false, "figures": true, "newCiteModal": false, "newCitedByModal": true, "newEcommerce": true, "newUsageEvents": true }

4 - China and the Asian Infrastructure Investment Bank: Undermining Hegemony through Goods Substitution?

Published online by Cambridge University Press:  21 July 2021

Morten Skumsrud Andersen
Affiliation:
Norwegian Institute of International Affairs
Alexander Cooley
Affiliation:
Barnard College, Columbia University
Daniel H. Nexon
Affiliation:
Georgetown University, Washington DC
Get access

Summary

China has begun to take a more active and assertive role in international public goods provision and the results of this are more varied than the duality of revisionism versus status quo orientations would have it. As a goods supplier, China is increasingly identifying gaps in the existing international order and filling them without necessarily challenging the USA directly. In this chapter, Julia Bader shows how China’s Asian Infrastructure Investment Bank (AIIB) became a successful example of asset substitution. The AIIB was initiated as a counter-hegemonic attempt, targeted at the architecture of international finance and at US dominance therein. Yet, as ever more European democracies somewhat unexpectedly joined the Bank – against the wishes of the USA – the institution gradually transformed into an integrated part of the existing international financial architecture. The case of the AIIB illustrates how opportunistic hedging and uncoordinated herding by third states may inadvertently undermine the existing order. Bader shows how the framework of international goods provision, involving producers and consumers alike, directs our attention to non-hegemonic actors as crucial but overlooked players.

Type
Chapter
Information
Undermining American Hegemony
Goods Substitution in World Politics
, pp. 88 - 103
Publisher: Cambridge University Press
Print publication year: 2021

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Send book to Kindle

To send this book to your Kindle, first ensure no-reply@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about sending to your Kindle.

Note you can select to send to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be sent to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Send book to Dropbox

To send content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to Dropbox.

Available formats
×

Send book to Google Drive

To send content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to Google Drive.

Available formats
×