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China-led development bank must adopt core standards: US

The US is concerned about the standards AIIB will apply to projects and its procurement policies, for example

Tokyo

THE United States is not opposed in principle to the new China-led Asian Infrastructure Investment Bank (AIIB), but has a number of concerns over the possible adverse impact of some of its policies on regional development, a senior State Department official said in Tokyo on Monday.

Principal deputy assistant Secretary of State for economic and business affairs Kurt Tong, who is in Tokyo for a US-Japan Development Dialogue, said these concerns included the standards which the AIIB will apply to...

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