ISSN 2394-5125
 

Research Article 


AIIB as a Strategic Counterbalance for Western Financial Institutions

Nguyen Hoang Tien, Dinh Ba Hung Anh, Tran Anh Minh, Nguyen Phuong Mai.

Abstract
The Asian Infrastructure Investment Bank (AIIB) is a new international financial institution set up in 2015
with the goal of supporting the construction of infrastructure in the Asia-Pacific region. Meanwhile, the International
Monetary Fund (IMF) and the World Bank (WB) were formed together in Bretton Woods, New Hampshire in July
1944. Both are set up to support the world economy, although each has different roles. The role of the International
Monetary Fund is to protect the monetary system. Meanwhile, the World Bank plays a role in economic
development. Although the size and potential of the AIIB is smaller, it is not so different from the IMF and the WB.
Thus, the AIIB is considered a competitor of the IMF and WB and will bring challenges to the existence of the
Bretton Woods system with the two leading WB and IMF financial institutions. In addition, according to expert
opinion, the AIIB does not have austerity policies such as IMF, so the AIIB will quickly take over many sectors in
the economy outside Asia as well as Europe, especially Eastern Europe. This will alleviate the importance, scale and
potential of the two largest financial institutions in the world, the IMF and WB.

Key words: IMF, WB, AIIB, competitiveness, substitution, ASEAN


 
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How to Cite this Article
Pubmed Style

Nguyen Hoang Tien, Dinh Ba Hung Anh, Tran Anh Minh, Nguyen Phuong Mai. AIIB as a Strategic Counterbalance for Western Financial Institutions. JCR. 2021; 8(1): 740-747. doi:10.31838/jcr.08.01.82


Web Style

Nguyen Hoang Tien, Dinh Ba Hung Anh, Tran Anh Minh, Nguyen Phuong Mai. AIIB as a Strategic Counterbalance for Western Financial Institutions. http://www.jcreview.com/?mno=59216 [Access: April 17, 2021]. doi:10.31838/jcr.08.01.82


AMA (American Medical Association) Style

Nguyen Hoang Tien, Dinh Ba Hung Anh, Tran Anh Minh, Nguyen Phuong Mai. AIIB as a Strategic Counterbalance for Western Financial Institutions. JCR. 2021; 8(1): 740-747. doi:10.31838/jcr.08.01.82



Vancouver/ICMJE Style

Nguyen Hoang Tien, Dinh Ba Hung Anh, Tran Anh Minh, Nguyen Phuong Mai. AIIB as a Strategic Counterbalance for Western Financial Institutions. JCR. (2021), [cited April 17, 2021]; 8(1): 740-747. doi:10.31838/jcr.08.01.82



Harvard Style

Nguyen Hoang Tien, Dinh Ba Hung Anh, Tran Anh Minh, Nguyen Phuong Mai (2021) AIIB as a Strategic Counterbalance for Western Financial Institutions. JCR, 8 (1), 740-747. doi:10.31838/jcr.08.01.82



Turabian Style

Nguyen Hoang Tien, Dinh Ba Hung Anh, Tran Anh Minh, Nguyen Phuong Mai. 2021. AIIB as a Strategic Counterbalance for Western Financial Institutions. Journal of Critical Reviews, 8 (1), 740-747. doi:10.31838/jcr.08.01.82



Chicago Style

Nguyen Hoang Tien, Dinh Ba Hung Anh, Tran Anh Minh, Nguyen Phuong Mai. "AIIB as a Strategic Counterbalance for Western Financial Institutions." Journal of Critical Reviews 8 (2021), 740-747. doi:10.31838/jcr.08.01.82



MLA (The Modern Language Association) Style

Nguyen Hoang Tien, Dinh Ba Hung Anh, Tran Anh Minh, Nguyen Phuong Mai. "AIIB as a Strategic Counterbalance for Western Financial Institutions." Journal of Critical Reviews 8.1 (2021), 740-747. Print. doi:10.31838/jcr.08.01.82



APA (American Psychological Association) Style

Nguyen Hoang Tien, Dinh Ba Hung Anh, Tran Anh Minh, Nguyen Phuong Mai (2021) AIIB as a Strategic Counterbalance for Western Financial Institutions. Journal of Critical Reviews, 8 (1), 740-747. doi:10.31838/jcr.08.01.82