China-led Asia investment bank gains traction with more support

Tokyo

THE China-led Asian Infrastructure Investment Bank (AIIB) grabbed international headlines over the weekend after the UK announced that it would become the first Western founder member of the bank, and Australia indicated that it could also join soon.

"We're looking very carefully at this and we'll make a decision in the next week or so," Australian Prime Minister Tony Abbot said at the weekend. "I would like to think that it is possible for this to be a genuine multilateral institution and I think it could well be an important part of bringing China fully into the international community."