Gu Bin is an associate law professor at Beijing Foreign Studies University and the author of “Chinese Multilateralism in the Asian Infrastructure Investment Bank (AIIB)”.
The development bank’s reputational crisis underlined the importance of best practice in crisis communications and staff conduct, and the need for a better understanding of Communist Party membership.
Reform of global economic governance has been slow amid US hegemony and industrial subsidies. China is now forging a better path with new banks and initiatives that secure the voices of the majority.
International organisations must adhere to their founding missions of only allowing economic considerations to influence their decisions. Bullying those who disagree with the US or refuse to take sides is wrong and threatens to poison the heart of multilateralism.
Does China force US companies to transfer technology? To what extent does the Communist Party control the Chinese economy? Is Huawei spying for Beijing? Some common misconceptions must be cleared up, before trade negotiations can restart.