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Beijing-Tokyo battle rages for mega infrastructure projects

Their rivalry raises questions about the way funding and operational demands on two regional development banks - China-led AIIB and Japan-led ADB - are likely to evolve
Wednesday, December 23, 2015 - 05:50
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In their race to grab major infrastructure projects in Asia, China has secured a US$5 billion contract to build a high-speed rail link between Jakarta and Bandung, a project that Japan had also been eyeing, while Tokyo has won a contract to link Mumbai and Ahmedabad with a high-speed rail system. The project is estimated to cost US$20.8 billion.

AS the formal opening of the Asian Infrastructure Investment Bank (AIIB) draws near with the approach of 2016, it might seem that a struggle for supremacy between the new China-led bank and the long-established Japan-led Asian Development Bank (ADB) is imminent. But the real "war of the giants"