The China-Global South Podcast China's Evolution from "Rules Taker" to "Rules Maker" in Development Finance
Nov 3, 2025
In this conversation, Greg Chin, a political science associate professor at Boston University, and Kevin Gallagher, the director of the Global Development Policy Center, explore China's evolution in global finance. They delve into China's transition from being a 'rules taker' within the Bretton Woods system to a 'rules maker' through institutions like the AIIB. The duo discusses the strategic motivations behind these changes, the implications for the Global South, and how China's approach to debt and green finance reshapes international norms and partnerships.
AI Snips
Chapters
Books
Transcript
Episode notes
China's Rule-Maker Trajectory
- China moved from 'rule taker' to 'rule maker' by learning from Bretton Woods institutions and then building alternatives.
- Creating banks like AIIB and NDB let China exert influence beyond its formal voting weight.
Two-Way Countervailing Power
- China leverages inside-outside power: build alternatives, then influence legacy institutions from within.
- That two-way countervailing power amplifies China's impact despite limited votes.
'Next Practices' In Green Finance
- China pushes 'next practices' like stronger climate commitments through new MDBs.
- AIIB and NDB consciously position themselves to advance Paris Agreement goals.
