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ASIAN INFRASTRUCTURE INVESTMENT BANK: A NEW PERIPHERAL ELEMENT OF BRICS STRUCTURE
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ASIAN INFRASTRUCTURE INVESTMENT BANK: A NEW PERIPHERAL ELEMENT OF BRICS STRUCTURE
Annotation
PII
S0321-50750000616-3-1
Publication type
Article
Status
Published
Authors
Vladimir Klishin  Vladimir Pavlov
Edition
Issue №6
Pages
49-54
Abstract
The establishment of the Asian Infrastructure Investment Bank (AIIB) secures for China the role one of the leading world powers, controlling credit and loan policy and investment activities of the regional development banks, and the bank itself becomes an essential element of the peripheral structure of the BRICS.The article deals with the prerequisites for establishment and future directions of the credit policy of AIIB. According to the authors, the main aim of creating AIIB  is to eliminate the deficit long-term investment in the development of solid infrastructure industries in the Asian region. Another object of creating AIIB was China’s desire to strengthen the status of the yuan as the base currency of international settlements and payments based on the expansion of credit and loan and investment operations of AIIB  in national Chinese currency. The authors conclude that the creation of AIIB was an important step for the practical restructuring of the international financial and monetary system in the direction of strengthening the role therein of the BRICS countries.
Keywords
Asian Infrastructure Investment Bank, BRICS, AIIB
Date of publication
01.06.2016
Number of purchasers
1
Views
1108
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0.0 (0 votes)
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