The Asian Infrastructure Investment Bank will help finance billions in infrastructure projects around Asia, and also challenge the existing financial institutions. Curtis S. Chin, provides suggestions on how the new institution should organized to be efficient, environmentally stringent, and respectful of local rights.

Could China’s export infrastructure drive be at risk from its actions in the South China Sea? To win overseas infrastructure contracts, China may have to choose between a trouble free ‘going out’ strategy, and an aggressive ‘island-building’ South China Sea policy.

The recent initiative provides the possibility for RMB internationalization to grow deep roots, but that global outreach could be a “double-edged sword.” Exchange-rate fluctuations will mean greater exchange risks for enterprises, but the RMB cross-border settlements could also help enterprises to hedge exchange-rate risks.

China and India are ready for breakthrough diplomacy that has the potential to reorder the face of Asia, while supporting global growth prospects. Of course, there is also concern on both Chinese and Indian sides, due to the lingering border disputes, the shadow of the 1962 war, and the pivot of multiple powers to Asia.

The Third Session of the 12th National People’s Congress delivered a “Report on the Work of the Government.” Notable advancement was made in conducting economic diplomacy with the Silk Road Economic Belt, 21st Century Maritime Silk Road initiatives, the Asian Infrastructure Investment Bank, and Silk Road Fund. More significant openness to the outside world and expanded economic diplomacy are priorities of diplomatic work in 2015.

A Greek exit from the EU would lead to increased instability in Europe. Yet, it may present opportunity for China, the U.S. EU, and IMF to engage together in a summit to safeguard the stability of the Eurozone and shape a global norm on tax evasion and tax heavens that have adversely affected insolvent states like Greece.

Speaking at the recent Central Conference on Work Relating to Foreign Affairs, Xi Jinping spelled out China’s new foreign-policy vision, which many have characterized as a diplomatic manifesto to secure the “Chinese dream”.

China’s “One Belt, One Road” strategy is Xi’s new scheme to effectively interconnect the trade routes between China and the rest of the world. The United States need not consider it a hegemonic challenge, but rather work to collaborate in the region’s common development.

Reflecting on the recent joint naval exercises between Iran and China, Michal Meidan explores how the strategic relationship between the two nations involves more than just oil and discusses how US-led sanctions against Iran continue to complicate geopolitics.

Shao analyzes the US’ “New Silk Road Initiative” and China’s “Silk Road Economic Belt,”and concludes that though having differences, they go in the same direction: acceleration of regional economic cooperation.