By MANOJ JOSHI
30 March 2015
The decision of key American allies like the UK, Germany, France, South Korea and Australia to join the Chinese-led Asian Infrastructure Development Bank (AIIB) marks another step forward in the shaping of a Chinese-led Asian economic and, possibly, security order.
It also underscores the missteps of the US in dealing with the consequences of the rise of China.
The Obama Administration actively discouraged its allies from participating in the AIIB, in which countries like India are founder members.
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