TY - JOUR
T1 - The United Arab Emirates and the New Development Bank
T2 - Mutual interests and first-mover advantages
AU - Cooper, Andrew F.
AU - Cannon, Brendon J.
N1 - Publisher Copyright:
© 2023 The Authors. Global Policy published by Durham University and John Wiley & Sons Ltd.
PY - 2024/5
Y1 - 2024/5
N2 - The United Arab Emirates (UAE) joined the BRICS-led New Development Bank (NDB) as part of its first expansion in terms of membership. Questions regarding the interests and rationale of the UAE in joining the Bank, on the one hand, and the NDB's logic in granting membership to the UAE, on the other, immediately jump out. This article sheds light on the BRICS' cautious move away from exceptionality via the expanded NDB in the context of its membership criteria and approach. It does so by also highlighting the UAE's exceptionality, with a focus on the combination of fiscal resources and strategic geography, in the context of shifting global distributions of power. It finds that the UAE's membership in the NDB dovetails with its memberships in other MDBs, which, in turn, are part of the country's ambition to be seen as a globally influential actor. In turn, the NDB was attracted to the UAE fiscal acumen, credit rating and its carefully cultivated culture of cutting-edge, sustainable, infrastructure and connectivity projects, as well as innovation.
AB - The United Arab Emirates (UAE) joined the BRICS-led New Development Bank (NDB) as part of its first expansion in terms of membership. Questions regarding the interests and rationale of the UAE in joining the Bank, on the one hand, and the NDB's logic in granting membership to the UAE, on the other, immediately jump out. This article sheds light on the BRICS' cautious move away from exceptionality via the expanded NDB in the context of its membership criteria and approach. It does so by also highlighting the UAE's exceptionality, with a focus on the combination of fiscal resources and strategic geography, in the context of shifting global distributions of power. It finds that the UAE's membership in the NDB dovetails with its memberships in other MDBs, which, in turn, are part of the country's ambition to be seen as a globally influential actor. In turn, the NDB was attracted to the UAE fiscal acumen, credit rating and its carefully cultivated culture of cutting-edge, sustainable, infrastructure and connectivity projects, as well as innovation.
UR - https://www.scopus.com/pages/publications/85165899826
U2 - 10.1111/1758-5899.13249
DO - 10.1111/1758-5899.13249
M3 - Article
AN - SCOPUS:85165899826
SN - 1758-5880
VL - 15
SP - 398
EP - 404
JO - Global Policy
JF - Global Policy
IS - 2
ER -
