The Obama administration is proposing a partnership between the China-led Asian Infrastructure Investment Bank and Washington-backed outfits like the World Bank as key US allies including the UK, Germany and France have lined up to become founding members of the new infrastructure fund, The Wall Street Journal reported. The collaborative approach is designed to steer the new bank toward the economic aims of the world’s leading economies and away from becoming an instrument of Beijing’s foreign policy; indirect support could also help the US ensure the new institution’s standards are designed to help prevent debt buildups, human-rights abuses and environmental risks.
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