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    China’s “Great Leap Outward”: The AIIB in Context

    Larkin, Stuart | June 2015
    Abstract
    The Asian Infrastructure Investment Bank (AIIB), along with the creation of other institutions such as the New Development Bank, (NDB), the Contingency Reserve Fund and the Silk Road Fund, are major initiatives for China although they will play a complementary role with existing institutions that manage capital exports. There is a tendency to see the AIIB as having two key roles: as a leading agency for implementation of the “Belt and Road” vision expounded by Xi Jinping and as an instrument of “soft power” delivering “public goods” which address the region’s infrastructure financing requirement. However, AIIB can only really be understood when placed in the context of the economic circumstances that confront China at home and abroad. Partly out of necessity and partly out of opportunity, Beijing is now laying the foundations for the next stage of China’s rise. However, the logic of the “great leap outward”, along with the ability to execute, is undermined if the financial surpluses go into reverse due to deterioration in the domestic economy. Xi Jinping’s strategy is not without its risks.
    Citation
    Larkin, Stuart. 2015. China’s “Great Leap Outward”: The AIIB in Context. © ISEAS Yusof Ishak Institute. http://hdl.handle.net/11540/10992.
    ISSN
    2335-6677
    Keywords
    Urban Development Finance
    Trade Finance
    Small Business Finance
    Rural Finance
    Roundtable on International Trade and Finance
    Regional Development Finance
    Public Service Finance
    Public Finance
    Project Finance
    Private Finance
    Nonbank Financing
    Non-Bank Financial Institutions
    Municipal Finance
    Local Government Finance
    Local Currency Financing
    Limited Resource Financing
    International Financial Institutions
    Infrastructure Financing
    Industrial Finance
    Government Financial Institutions
    Government Finance
    Financing of Infrastructure
    Financial Sector Development
    Financial Regulation
    Development projects
    Physical infrastructure
    Soft infrastructure
    Infrastructure finance
    Infrastructure bonds
    Transport infrastructure
    Roads
    Highways
    Railways
    Ports
    Airports
    Pipelines
    Water supply
    Power production
    Power transmission
    Power distribution
    Telecommunications
    Infrastructure connectivity
    Cross border connectivity
    Taxation
    Public Accounting
    National Budget
    Municipal Bonds
    Local Government
    Local Taxes
    International Monetary Relations
    International Financial Market
    International Banking
    Central Banks
    Business Financing
    Capital Resources
    Budgetary Policy
    Capital Needs
    Corporate Divestiture
    Capital Instruments
    Pension Funds
    Insurance Companies
    Banks
    Portfolio Management
    Fiscal Administration
    Economics of Education
    Development Banks
    Use tax
    Taxing power
    State of taxation
    Tax-sales
    Tax revenue estimating
    Tax planning
    Spendings tax
    Special assessments
    Tax administration and procedure
    Sales tax
    Real property and taxation
    Progressive taxation
    Effect of taxation on land use
    Effect of taxation on labor supply
    Intergovernmental tax relations
    Inheritance and transfer tax
    Energy tax
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/10992
    Metadata
    Show full item record
    Thumbnail
    ISEAS_Perspective_2015_27.pdf (743.2Kb)
    Author
    Larkin, Stuart
    Theme
    Finance
    Infrastructure

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    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise