Injoo Sohn writes that the new China-led Asian Infrastructure Investment Bank (AIIB) is part of China’s strategy of hedging against over-reliance on existing multilateral financial institutions and overcoming stalled reform in them. He argues that this may result in more fragmented global financial governance, but also may enhance effectiveness and provide checks and balances for existing institutions.

Source: www.brookings.edu

"We should learn to live with China’s evolving hedging strategy and subsequently decentralized global financial governance."

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