Thank you, Chair.
In the Indo-Pacific strategy, it talks about “reviewing all mechanisms and structures” between Canada and the PRC, so I want to ask about the Asian Infrastructure Investment Bank.
Professor Hampson, you mention that the PRC's intention is building these replacement institutions to replace the Bretton Woods institutions.
On the Asian Infrastructure Investment Bank, the government invested heavily into the bank and called it part of its foreign policy strategy. Now it has regrets. In June last year, it announced it was freezing co-operation. There have been no announcements since then on what's going on and whether they will pull out or not. Was that in the best interest of Canada? Is the AIIB a replacement institution to try to push out Bretton Woods institutions?
I'll go to you, Professor Hampson, and to you, Professor Houlden as well.