Current Look at the Creation of AIIB and NDB in the Context of the Modern Economy

DOI: 10.33917/es-1.205.2026.54-61

The article examines key factors that led to the creation in the mid-2010s of two major international financial institutions as alternatives to the Bretton Woods institutions – the Asian Infrastructure Investment Bank and the New Development Bank. Based on analysis of macroeconomic indicators (gross domestic product growth, share of world trade, gold and foreign exchange reserves), imbalance between the growing economic role of the BRICS countries (especially China) and their limited influence in traditional international financial institutions is demonstrated. It is emphasized that AIIB and NDB have become a response to inability of the existing global governance system to reflect new economic realities.

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