Asian Infrastructure Investment Bank

A screen shows a CCTV state media news broadcast of Chinese President Xi Jinping, addressing the BRICS Business Forum via video link, at a shopping center in Beijing, China, 23 June 2022. (Thomas Peter/Reuters)

Can the BRICS reinvent itself?

In an age where any global economic agenda is hardly viewed outside the prism of geopolitics, it would take enormous resolve for BRICS to make an impactful comeback on the global stage, says ISAS academic Amitendu Palit.
Chinese and Sri Lankan national flags flutter from poles at the Chinese-funded sea reclamation Port City project as sail boats compete in a sailing event attended by Chinese Foreign minister Wang Yi (not pictured) on the occasion of the 65th anniversary of diplomatic relations between the Sri Lanka and China at the Colombo Port city project, in Colombo, Sri Lanka, on 9 January 2022. (Ishara S. Kodikara/AFP)

Funding wars between China and the West: The politics of bankrolling developing countries

While several alternatives to China's Belt and Road Initiative have sprung up, such as the G7’s Build Back Better World and the EU’s Global Gateway, developing countries are not exactly facing a buffet spread of options, as each avenue comes with strings attached. Only time will tell if China will turn out to be a more benevolent lender and if the new Cold War will bring better spoils for developing countries.
Indian Army soldiers stand next to a M777 Ultra Lightweight Howitzer positioned at Penga Teng Tso ahead of Tawang, near the Line of Actual Control (LAC), neighbouring China, in India's Arunachal Pradesh state on 20 October 2021. (Money Sharma/AFP)

Overcoming power imbalances and policy clashes: The quest for a peaceful China-India future

Mind games among the US, China, Russia and India may influence Sino-Indian engagement in the new year and beyond. China could move even closer to Russia in dealing with India, and the US could further call on India as a “major defence partner” in its intense competition with China. External factors aside, a peaceful and cooperative China-India future requires synchronised political will in their bilateral and global diplomacy. Key is unequal power and core interests as China and India each employ the diplomacy of smart power. Will an uneasy status quo be maintained in their long-unresolved boundary dispute, and will they find the impetus for collaboration in a post-Covid-19 order?
George Washington is seen with printed medical mask on the one Dollar banknotes in this illustration, 31 March 2020. (Dado Ruvic/REUTERS)

AIIB, ADB or World Bank: Which is the bigger lender to Southeast Asian countries?

In the fight against the Covid-19 pandemic, various countries have extended support to nations in need, including those in Southeast Asia. There has been talk about possible shifts in the international balance of power. In terms of funding provisions to Southeast Asian countries at least, the pandemic does not seem to have made big dents to long-established patterns. The more established multilateral development banks — the World Bank and the Asian Development Bank — are still ahead of the Asian Infrastructure Investment Bank, but this could change in the near future with the latter stepping up its efforts in the region.