Far from competing with US interests, the two meetings offer blueprints for more and better cooperation with Washington in a new world order.

The new AIIB reflects China’s opportunity to assist the developing world, but how China cooperates with India, and U.S. interests in the Asia Pacific, will determine the effectiveness of the new Bank.

The China-Pakistan Economic Corridor plans connect China to the Persian Gulf through the quickest route. This huge investment can be transformational for South and Central Asia if Pakistan can improve upon its lackluster performance in FDI absorption and transparent governance.

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.

President Xi Jinping’s visit has deepened China-Russia strategic mutual trust. That improves Eurasian cooperation and boosts the preservation and reform of the post-war international order, making it fairer and more just.

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.

Under Xi, China has moved to a proactive posture to shape its external security environment, using trade and investment to expand its sphere of strategic influence while simultaneously asserting territorial and maritime claims against its neighbors. The Maritime Silk Road project is driven by his belief that the maritime domain holds the key to China achieving preeminence in Asia.

To some extent, the structures of the Asian Development Bank, World Bank, and International Monetary Fund are obsolete: they can no longer meet the needs of new emerging economies and don’t reflect today’s global economy. The AIIB could serve to invigorate the other banks to become more competitive and efficient.

China’s investment in Central Asian energy and transportation is impressively promoting regional integration. There is still a degree of fear and caution from Central Asian leadership due to incomprehension of Beijing’s foreign policy goals, a historical legacy of confrontation, and the sensitivity of Moscow to recognize the importance of Beijing’s role.

Though some view the One Belt, One Road strategy as a Chinese version of the Marshall Plan, they are vastly different. Therefore, no single country can dominate its process. There is room to dispel suspicion and build trust by further enhancing transparency of the AIIB institution through reducing China’s shareholding, offering more leadership positions to foreign nationals, and employing international business standards.