Australian leader backs China-proposed bank as long as it is transparent, not run by Beijing

March 25, 2015 4:37 AM

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CANBERRA, Australia – Australia's prime minister said Wednesday that he supported the proposed development of a Chinese-backed Asian regional bank as long as it was transparent and not run by a single country.

Prime Minister Tony Abbott said Australia would announce its decision about joining within a few days. He said he expected skeptical countries including the United States and Japan would also join if China gave the required assurances.

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