China Can Now Organize Its Own (Financial) Coalitions of the Willing (CFR Blog)

From the article:

Scott Morris of the Center for Global Development has written a new CFR discussion paper on how the U.S. should respond to China’s success in setting up the Asian Infrastructure and Investment Bank.

One of his conclusions is straight-forward. If the U.S won’t support an expansion of the balance sheet of the institutions where it has the most influence and weight—institutions like the World Bank—then the world will likely proceed without the United States. And the current “core” development institutions will over time be surpassed by new institutions where the U.S. has less influence.

Read the full article here.