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Published in Asia & the Pacific Policy Studies, 3(1) 2016: 117-25.
Three foreign policy initiatives under President Xi Jinping over the past three years have considerably enhanced China’s global influence: partnership diplomacy, the Silk Road economic diplomacy, and the new financial diplomacy. Partnership diplomacy seeks to forge a global network of partnership countries for China. The Silk Road economic diplomacy is the signature foreign policy proposal of Xi, and in some sense can be seen as the economic pillar of Xi’s grand strategy for rejuvenating China on the world stage. Its stated objective is to promote common development between China and Eurasian countries, particularly in the field of infrastructure development. China has also been trying with very skillful and proactive diplomacy to create a new financial order to support the Silk Road project and China’s economic diplomacy in general, including, but not limited to, the establishment of the much vaunted Asian Infrastructure Investment Bank.