CIAO DATE: 04/2015
December 2014
Centre for International Governance Innovation
Although China has been involved in regional financial cooperation for the last 15 years, its recent minilateral initiatives, such as the New Development Bank, the Contingent Reserve Arrangement and the Asian Infrastructure Investment Bank, are far more China-centred. Through minilateral efforts, the Chinese government seeks to use financial minilateralism to stimulate reform of global financial institutions, provide financial public goods for its regional neighbours and fellow developing countries, as well as directly promote China’s economic and political interests. This paper examines China’s minilateral diplomacy in the financial area and explores possible international reaction to China’s new activism and the domestic political dynamics in China.
Resource link: From "Taoguang Yanghui" to "Yousuo Zuowei": China's Engagement in Financial Minilateralism [PDF] - 2.8M