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International Monetary Fund
U.S. gets little support in its opposition to AIIB
U.S. gets little support in its opposition to AIIB

Editor's note: This article has been updated to reflect the correct amount of money Asia needs to invest annually in infrastructure to sustain its current growth trajectory.  When China rolled out the Asian Infrastructure Investment Bank last October, the stiff resistance from the U.S. (as well as Japan) took the world by surprise. This opposition notwithstanding, AIIB, has so far picked up 27 regional members and seven non-regional members, including the U.K., Germany, France and Italy. In addition, there was a virtual avalanche of applications before the March deadline for founding membership, which included another 23 countries that are currently under consideration. This...