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The World Bank and the International Monetary Fund have long been the only organizations, where developing countries could raise loans.
China has recently initiated the establishment of the Asian Investment Bank (AIIB) as a possible alternative for developing economies. The bank is said to seriously undermine the dominance of the United Statesamong the countries of the “third world”, as the Americans show serious influence on the administration of the World Bank and the IMF that act as tools of their influence in different regions, Pravda.Ru says …. http://english.pravda.ru