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    Games of Institutional Balancing China, The AIIB, and Future of Global Governance

    He, Kai; Feng, Huiyun | May 2018
    Abstract
    The establishment of the Asian Infrastructure Investment Bank (AIIB) has signified a “charm offensive” by China towards multilateral institutions and existing global financial governance. If the rise of China is inevitable, what will the future world look like and what should other countries be prepared for? Borrowing insights from institutional balancing theory and role theory in foreign policy analysis, this project introduces a “leadership transition” framework to explain policy dynamics in global governance with the AIIB as a case study. It suggests that China, the US, and other countries have employed different types of institutional balancing strategies, i.e., inclusive institutional balancing, exclusive institutional balancing, and inter-institutional balancing to compete for influence and interest in the process of establishing the AIIB. A state’s role identity as a “leader,” a “challenger,” or a “follower” will shape its policy choices regarding different institutional balancing strategies in the process of leadership transition in global governance. Institutional balancing is a new form of balancing among states in the future of global governance. China’s institutional rise in global governance might be more peaceful than widely predicted.
    Citation
    He, Kai; Feng, Huiyun. 2018. Games of Institutional Balancing China, The AIIB, and Future of Global Governance. © S. Rajaratnam School of International Studies. http://hdl.handle.net/11540/8710.
    Keywords
    Agricultural And Rural Development
    Development In East Asia
    Infrastructure Development Projects
    Institutional Development
    Millennium Development Goals
    Policy Development
    Social Development Programs
    Social Development
    Cultural Development
    Development Economics
    Development Issues
    Rural planning
    Aid coordination
    Industrial projects
    Infrastructure projects
    Natural resources policy
    Educational development
    Development Issues
    Social participation
    Political participation
    Community banks
    Business planning
    Infrastructure
    Sustainable urban development
    Social contract
    Government
    Crisis management in government
    Transparency in government
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    Citable URI
    http://hdl.handle.net/11540/8710
    Metadata
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    WP314.pdf (591.7Kb)
    Author
    He, Kai
    Feng, Huiyun
    Theme
    Development
    Governance
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise