China's Strategies Towards Institutional Reform: Creation of the AIIB and Its Development Success

Year 2019, , 151 - 171, 30.08.2019

Mustafa Tüter

https://doi.org/10.30784/epfad.560715

Abstract

While existing studies largely focus on the
implications of China-led new multilateral institutions to international order,
the question of underlying reasons for the establishment of those institutions
and their future development success have received less attention. China’s strategies towards institutional reform are mainly based on its
dissatiffaction with asymmetrical distributional gains within existing
multilateral institutions such as World Bank and International Monetary Fund (IMF).
By using bargaining theory in international relations, this article contributes
to explain the main conditions and mechanisms of the creation of Asian
Infrasturucture Investment Bank (AIIB). In creating AIIB, China aims to
increase its bargaining leverage which provides itself direct and indirect
benefits vis-a-vis the costs emanating from intensified strategic competition
with the US. Thus, it is argued that China’s expectation of success reinforced by direct
and indirect benefits for the development of AIIB reflects both the significant
motivations underpinning its creation and also the possibility of extended
institutional reform into other multilateral regimes. Within the context of
power transition, the political bargaining process in reforming existing
multilateral regimes is likely to be shaped by the tension between
minilateralist strategies of rising powers and truly multilateral operations
within newly emerging financial regime.

Keywords

China, Asian Infrastructure Investment Bank (AIIB), Distributional Conflict, Institutional Reform, Bargaining

Çin’in Kurumsal Reforma Yönelik Stratejileri: AAYB’nin Kuruluşu ve Gelişimindeki Başarı

Abstract

Mevcut
çalışmaların pek çoğu Çin’in liderlik ettiği yeni çok taraflı kurumların uluslararası düzen üzerinde yaratacağı etkilere odaklanırken, bu kurumların kuruluşunun altında yatan nedenler ve gelişimlerinde gösterdikleri başarı konusu yeterince dikkate alınmamaktadır. Çin’in kurumsal reforma yönelik stratejileri en temelde
Dünya
Bankası
ve İMF
gibi mevcut çok
taraflı
kurumlarda var olan asimetrik dağılımsal kazanımlardan duyduğu hoşnutsuzluğa dayanmaktadır. Bu makale uluslararası ilişkilerde pazarlık teorisinden faydalanarak
Asya Altyapı
ve Yatırım Bankası (AAYB)’nın kurulmasında etkili olan ana koşulların ve mekanizmaların açıklanmasına katkı sunmaktadır. Çin, AAYB’nin kurulmasına öncülük ederek ABD ile yoğunlaşan stratejik rekabetinden
kaynaklanan maliyetler karşısında kendisine doğrudan ve dolaylı faydalar sağlayarak pazarlık gücünü artırmayı amaçlamaktadır. Çin’in edindiği doğrudan ve dolaylı faydalarla pekişen başarı beklentisi, AAYB’nin kuruluşunun altında yatan ana motivasyonları yansıttığı gibi diğer çok taraflı rejimleri de içine alan daha kapsamlı bir kurumsal reform
ihtimalini de gündeme getirmektedir. Ancak, güç geçişi bağlamında mevcut çok taraflı kurumların reforme edilmesinde yaşanan politik pazarlık sürecinin, yükselen güçlerin mini taraflı stratejileri ile hakiki çok taraflı uygulamalar arasında var olan gerilime dayalı olarak şekillenmesi kuvvetle
muhtemeldir.

Keywords

Çin, Altyapı ve Yatırım Bankası (AAYB), Dağılımsal Çatışma, Kurumsal Reform, Pazarlık

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