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Australia Ready to Join China-led Bank

Australia is “well and truly” disposed to join the China-led Asian Infrastructure Investment Bank (AIIB), Prime Minister Tony Abbott said on Wednesday, but wants to know how much power Beijing would hold in the institution before a formal decision. Fairfax Media, citing government sources, reported the federal cabinet has approved Australia signing a “memorandum of understanding” on joining the AIIB. Australia, South Korea and Japan are the notable regional absentees from the bank,...

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