Geopolitical shift at a time of Covid-19 and the Asian Infrastructure Investment Bank: A case study of Chinese innovation in multilateralism

Abstract How China will contribute to global governance has become a critical question in international relations, amplified by the linkages between Covid-19 pandemic, escalating geopolitical contest and multilateralism crisis. been doubling down on its authoritarian model of domestic while becoming more internationally assertive, including existing new multilateral institutions. Meanwhile, United States appeared recent years be undermining institutions, norms rules liberal order that it, itself, built. The subsequent decline cooperation poses grave risks public health, economic other forms security. Can cooperate with actors goods stabilisation such deteriorating environment? While there is wide range institutions which examine China's growing role governance, from Nations bodies as World Health Organisation Trade regional initiatives Regional Comprehensive Economic Partnership, this paper examines Asian Infrastructure Investment Bank (AIIB), an example Chinese innovation multilateralism. Established amidst contest, institution seeks address deficit financing for sustainable development. bank challenges number prevailing norms, replacing disproportionate power US advanced economies system proportionate developing countries; focus infrastructure-led development built confidence East model; shift away Bretton Woods practices using conditions drive democratic neo-liberal reforms. At same time representing challenge traditional order, exhibits – at least date best implementation addresses previously unmet concerns world. it not possible extrapolate only one initiative draw comprehensive conclusions about likely future AIIB case nonetheless suggests that, some fields, reform rather than revolutionise order.