Japan becomes isolated as it continues spurning China-led infrastructure lender
Tokyo
JAPAN has become effectively isolated as it continues to resist joining the proposed China-led Asian Infrastructure Investment Bank (AIIB), which it sees as a rival to the Asian Development Bank (ADB), in which it is a controlling shareholder, together with the US.
Tuesday was the deadline for countries to join the US$100 billion new lender; getting on board commits these countries to taking part in entry negotiations, with a view to finalising a charter in May. The AIIB is slated to start operations by year's end.
Japan's Finance Minister Taro Aso said on Tuesday that the country remained "very cautious" about joining the AIIB; he reiterated concerns about governance at…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Australia regulator flags surge in company insolvencies to 11-year high
Elon Musk stakes fortune on cult following who made him rich
Even without war in the Gulf, pricier petrol is here to stay
Philippine Coast Guard to join military drills with United States
Australia’s March employment unexpectedly falls 6,600, jobless rate ticks up to 3.8%
China education firms learn tough lessons overseas