March 31, 2015
China’s Asian Infrastructure Investment Bank (AIIB) got several major boosts this past week, when the UK, Germany, France, Italy, Turkey and South Korea all announced plans to join, in addition to India and others already on board. This wave of U.S. allies flocking to join the China-led financial institution demonstrates the limits of Washington’s influence over its allies, at least in financial matters, for U.S. diplomats have been working overtime in recent months to discourage its allies from joining the AIIB.
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