Why the United States Shouldn’t Worry About the AIIB

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In The Media

Why the United States Shouldn’t Worry About the AIIB

The reaction from the United States over the Asian Infrastructure Investment Bank (AIIB) translates into a victory for China.

By Michael Pettis

Published on Apr 16, 2015

Source: CNBC

Speaking on CNBC, Carnegie’s Michael Pettis asserted that it is not yet clear how the governance structure of the Asian Infrastructure Investment Bank (AIIB) is going to operate. Moreover, he argued that the popular narrative contending that the AIIB represents an unprecedented move by China is simply incorrect. He concluded by maintaining that the renminbi would become—at best—a minor reserve currency.

This interview was originally broadcast by CNBC.

About the Author

Michael Pettis

Nonresident Senior Fellow, Carnegie China

Michael Pettis is a nonresident senior fellow at the Carnegie Endowment for International Peace. An expert on China’s economy, Pettis is professor of finance at Peking University’s Guanghua School of Management, where he specializes in Chinese financial markets.

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Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.

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