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China’s Domino Tactics Boost Infrastructure Bank

President Jacob Zuma receiving the President of the People’s Republic of China, Xi Jinping in Pretoria in March of 2013. Image: GovernmentZA/Flickr

This article was originally published by the CIPS Blog, hosted by the Centre for International Policy Studies on 22 March 2015.

China is looking ever the experienced super-power. In a week it has scooped up all the important European dominos, humiliating a U.S. government which has lobbied hard to block the launch of China’s new $50b Asian Infrastructure Investment Bank (AIIB).

The dominos have fallen quickly. Last week it was the UK’s turn to join, preferring its commercial interest and geo-political judgment over its friendship with the U.S. Now it is a coordinated set of EU announcements from France, Germany and Italy. The driver was their desire to be well-connected economic partners in Asia, but there was also an element of blowback on U.S. geo-political arrogance, be it spying on Angela Merkel or military jingoism towards Russia.