ASIAN INFRASTRUCTURAL INVESTMENT BANK AS INSTRUMENT FOR CHINA’S EMERGING HEGEMONIC POWER: EMERGENT THEORETICAL PERSPECTIVES

Abstract

The Sino-US relations have become the single most significant substance of international politics in the last half a decade or so. It has become the prism through which each of them views her relations with others. An important element of this phenomenon is that it has gradually acquired such multi dimensional and intricate character that is only matched by its delicateness. The import of this paper is to analyse this complex relationship as a natural outcome or corollary of big power dynamism, the movement of power in world history, in which power rises in transition to usurpation of power in a multi dimensional contest. This paper examines the AIIB as a strategic gambit employed by China in an unfolding global challenge to US hegemony. This is essentially as explanatory research to interpret this relationship in the frameworks of two theories: Power Transition Theory and Realist Space Dynamics theory.