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China Launches New Asia Development Bank

China and 21 other countries have agreed to start an international development bank to fund infrastructure projects throughout all of Asia.  However, the proposal has drawn criticism from the United States, and three invited countries skipped Friday's bank launch.  China and the other countries have launched what is called the Asian Infrastructure Investment Bank.  The member nations include Myanmar, Vietnam, Laos, Cambodia, Vietnam and the Philippines. Among South...

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