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.