REUTERS - Newly-built residential buildings are seen next to the partially-frozen Songhua River and a bridge in Jilin, Jilin province, China, February 3, 2015.
Opinion | Brookings East Asia Commentary
AIIB: A plank in China’s hedging strategy
Injoo Sohn writes that the new China-led Asian Infrastructure Investment Bank (AIIB) is part of China’s strategy of hedging against over-reliance on existing multilateral financial institutions and overcoming stalled reform in them. He argues that this may result in more fragmented global financial governance, but also may enhance effectiveness and provide checks and balances for existing institutions.