With Development Bank, China Challenges Japan’s Role in Asia

March 25, 2015 2:47 AM

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With Development Bank, China Challenges Japan’s Role in Asia

China’s plans for a new development bank to fund infrastructure in Asia pose a challenge to Japan, which has been a major donor in the region and controls a decades-old institution with a similar remit.

Beijing’s efforts to muster international support for the Asian Infrastructure Investment Bank are gathering pace, with a handful of European nations signing up in the past few weeks despite U.S. opposition.

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