China Wins (and the U.S. Loses) on the Asian Infrastructure Investment Bank

By Derek Hunter

In October 2014, China launched the Asian Infrastructure Investment Bank (AIIB) -- an Asia-focused, and less United States-dominated, version of the IMF, or World Bank. As one might imagine, the United States was skeptical of the AIIB and viewed it as an attempt to displace American economic influence in the region. But, as the Economist reports, the AIIB would help to quench the nearly inexhaustible demand for infrastructure investment in Asia. As more of the United States’ European and Asian allies opt to join the AIIB, it appears that it will become a financial force in Asia, with or without the United States.