摘要
China＇s Belt and Road Initiative （BRI） is, above all, a connectivity project. Asconnectivity requires financial support, in the past few years China has undertakenseveral institution-building activities at the national and international level, mainlyin the finaneial and economic sector, showing a new propensity to influence globaleconomic governance. In particular, the establishment of the Asian InfrastructureInvestment Bank （AIIB） has drawn attention worldwide. How does this institution-building process connect with BRI？ Are these institutions just a vehicle for exportingChina ＂s capital and overcapacity, or do they signal a potential wider challenge to thepost-World War II liberal international order？ By analyzing the first loans approvedby the bank, the present paper argues that far from representing a China-led challengeto the Western-led liberal order, the AIIB, while promoting Chinese commercial andgeopolitical interests, shows the resilience of the global financial regime created by theWest.
