China’s most consequential diplomatic initiative in recent years has been the launch of the Asian Infrastructure Investment Bank (AIIB). Nearly 60 countries have now joined the bank, suggesting that the new institution is viewed as a useful complement to existing international financial institutions rather than as a threat. But as the architects of the bank construct its foundation under the global spotlight, it remains to be seen how the bank will differentiate itself from its Bretton Woods counterparts and expand China’s influence in the region.