China Uses Development Bank Push to Become Banker to Emerging Markets

(Beijing) – China's rise has been epitomized recently by its push for two international financial institutions, the New Development Bank, or "BRICS bank," and the Asia Infrastructure Investment Bank (AIIB).

What has set the two multilateral financing vehicles apart from established international development banks is that they are spearheaded by emerging economies and have made headway in a short period of time.