Major U.S. allies to join China-backed AIIB Bank

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The Deutsche Welle broadcast service reports that several European nations, against the advice of the U.S., have decided to join the China-backed AIIB development bank. Washington had expressed concern over funding transparency and competition for the Wold Bank.

Doug Tsuruoka
Doug Tsuruoka is a US-based newspaper editor and former foreign correspondent who's worked for the Far Eastern Economic Review, Asia Times' original print edition, Newsweek, and other major news media. He has reported from Japan, Korea, Malaysia and Thailand.