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Source: Getty

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.

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By Michael Pettis
Published on Apr 16, 2015
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Asia

The Asia Program in Washington studies disruptive security, governance, and technological risks that threaten peace, growth, and opportunity in the Asia-Pacific region, including a focus on China, Japan, and the Korean peninsula.

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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. 

    Recent Work

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Michael Pettis
Nonresident Senior Fellow, Carnegie China
Michael Pettis
EconomyTradeEast AsiaChina

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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