China’s Infrastructure Bank Gets Underway

Just what sort of animal will the China-sponsored Asian Infrastructure Investment Bank (AIIB) turn out to be? The United States suffered a major, largely self-inflicted defeat in its opposing its allies’ membership of the China-sponsored Asian International Investment Bank. It is now backing gingerly away from outright opposition, saying that perhaps the World Bank and the Asian Development Bank might have a role in co-financing the new institution.

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