China’s New Investment Bank
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China’s New Investment Bank

A Premature Prophecy

Mark Fleming-Williams
Stratfor, 2015
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Editorial Rating

7

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Recommendation

In its latest bold move as it leaps onto the global economic stage, China has launched its own version of the World Bank. United States’ officials fret about the Asian Infrastructure Investment Bank, but there’s no need to worry just yet, Stratfor’s Mark Fleming-Williams writes in this brief analysis. He persuasively notes that, while China is gaining fast on the United States, the American position is under no imminent threat. getAbstract recommends this report to international business managers and policy makers seeking insight into global maneuverings.

Summary

Reflecting its global ambitions, China launched the Asian Infrastructure Investment Bank (AIIB) in 2015. United States’ officials, irked at China’s decision, urged its allies not to enlist in the new bank, but many nations signed on despite Washington’s disapproval. Former US Treasury secretary Lawrence Summers even suggested China is usurping America’s economic hegemony. Summers’s prediction may be hasty, as a look at modern financial history shows. America’s ascendancy dates to 1870, when it became the world’s biggest economy, but it didn’t predominate until World War II. In 1944, the “passing of...

About the Author

Mark Fleming-Williams studies political economies, trade and financial trends for Stratfor, a geopolitical intelligence advisory firm.

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