U.S. Frets as Key Allies Flock to Join China’s AIIB

Chinese President Xi Jinping at a signing ceremony in the Great Hall of the People, Beijing, China, March 31, 2015 (AP photo by Feng Li).
Chinese President Xi Jinping at a signing ceremony in the Great Hall of the People, Beijing, China, March 31, 2015 (AP photo by Feng Li).

This year’s annual gathering of the World Bank and the International Monetary Fund will be unlike any other in the two institutions’ history. As representatives of hundreds of countries converge in Washington this week, the event will prove historic and remarkable—not for what goes on in the official meetings, but for the intrigue, anguish and anticipation that will unfold on the sidelines. As the official speeches and parties take place, top officials in the hallways and private meeting rooms will come under pressure from both the United States and China. The reason: The fledgling but already formidable Beijing-based Asian Infrastructure […]

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