Date of Award
China, International Finance, Regional Integration
China’s initiation of the New Silk Road plan in late 2013 has a potentially huge impact on global development. The purpose of this thesis is to understand, the impacts of the Chinaled on the global financial system. This paper highlights key issues related to finances and governance at the AIIB. The paper focuses on China’s Silk Road Economic Belt framework and on how China’s efforts to increase its economic integration in Asia Pacific Region. The “One Belt and One Road” program is China’s major strategic measure in response to the emerging trends in economic globalization, with the objectives of increasing convergence between nations and constructing a new open economic system. To make this argument, I will focus on the China’s high-speed rail investment around the world and examine available evidence to make a case for a paradigm change in global financing development system. I argue that China is establishing a new international financial architecture, which is shifting the regional economic order and fundamentally changing global economic governance.
Park, Insill, ""U.S. – CHINA COMPETITION IN ASIA-PACIFIC REGION: THE AIIB AND THE NEW GLOBAL ORDER?" (2016). CUNY Academic Works.