US officials have declared a truce in their campaign over China’s new Asian infrastructure bank, claiming that they have secured commitments from Beijing to address concerns as well as “meaningfully increase” its financial contributions to the World Bank and other potential regional rivals to the new institution.
The US has declined to join the new Asian Infrastructure Investment Bank
and has been leading what many allies and others see as a failed campaign against it. Together with the New Development Bank being founded with other Bric economies, the AIIB represents perhaps the biggest challenge ever to the Bretton Woods international financial architecture established in 1944.
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