China’s new development bank bodes poorly for the U.S.

THE OBAMA administration suffered a foreign policy setback last week when three European allies — Germany, France and Italy — decided to join a fourth, Britain, as shareholders in a new Chinese-sponsored multilateral development agency for Asia. When Beijing first proposed the Asian Infrastructure Investment Bank (AIIB) in 2013, Washington […]



Washington Post via CHINA US Focus http://ift.tt/1FHo3uh