In recent years, the US-China relationship has been marked by competition. The two powers have been wrestling in the South China Sea and more recently in a trade war, attracting global attention. The development sector is a less well known aspect in bilateral relations. Chinaâ€™s rise as the largest emerging donor is challenging the traditional aid regime led by the United States and other developed nations. Chinese aid-spending has increased dramatically since 2000. Not being a member of the OECD Development Assistance Committee, China is not bound by the requirements of the institution, and insists on â€˜common but differentiated responsibility.â€™ Beijing has become overtly impatient with the slow pace in global governance reform to elevate Chinaâ€™s status and instead established the BRICS New Development Bank, the Asian Infrastructure Investment Bank, and the Belt and Road Initiative.
|Journal||Asia Pacific Bulletin|
|Issue number||September 13, 2018|
|Publication status||Published - 2018|