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With Plan to Join China-Led Bank, Britain Opens Door for Others
BEIJING — A surprise decision this week by Britain to join China’s new development bank for Asia, despite opposition from the Obama administration, will almost certainly encourage other American allies to become members, particularly Australia and South Korea, analysts said Friday.
Britain’s announcement Thursday that it intends to join the Asian Infrastructure Investment Bank, which China is largely funding in hopes of becoming the dominant influence in Asian affairs, has bolstered the fledgling bank’s reputation even before it begins operations, the analysts said.
Britain said it wanted the new bank — which would provide financing for transportation, telecommunications and energy projects in developing countries across Asia — to address concerns about environmental standards and other lending safeguards before signing the final membership documents …. http://www.nytimes.com
Source: http://luismmx.blogspot.com/2015/03/with-plan-to-join-china-led-bank.html
