The Asian Infrastructure Investment Bank Means Business

<p>The advent of the Asian Infrastructure Investment Bank, sometimes called a Chinese-led rival to the World Bank, is one of the most genuinely interesting developments in global affairs. Thought not yet operational, it is being formed despite the strong opposition of the USA. The creation of the AIIB, with many US allies joining as founding partners, reflects the rise of China, waning American global influence, the declining relevance of international institutions created after World War Two, and the ways in which political polarization in the USA is influencing global affairs. Or does it? Scott Morris of the Center for Global De...