Beijing

FOR almost a year, China has been pitching an idea to its neighbours in Asia: a big, internationally funded bank that would offer quick financing for badly needed transportation, telecommunications and energy projects in underdeveloped countries across the region.

With the public backing of President Xi Jinping and a pledge from Beijing to contribute much of the US$50 billion in initial capital, the plan could be seen as an answer to critics who have long argued that China should take on greater responsibilities as a world power. But the United States has not embraced the Chinese proposal. Instead, in quiet conversations with China's potential partners, US officials have lobbied against the development bank with unexpected determination and engaged in a vigorous campaign to persuade important allies to shun the project, said sources.