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A global-governance challenge for China

AIIB members have an opportunity to establish new standards and shape infrastructure investment as insiders in setting up a new global lending institution.

Until now, China has largely been a follower in shaping the conventions of global governance. But now the country is engaged in global institution building of its own, and that casts it in a new and important role in the global governance debate.

New Haven

CHINA is making waves again, not just in the South China Sea, but in the world of development finance as well. Just as the economy shifts support from external to internal demand, the nation's worldview is going through an equally dramatic transformation.

The inward focus