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World Bank: Rival Chinese Bank Potential Ally Against Poverty

World Bank President Jim Yong Kim says he will do everything possible to work with a new Chinese-led Asian Infrastructure Investment Bank in the struggle against poverty. Washington opposes the new bank, but dozens of other nations support it. In a Washington speech Tuesday, Kim urged the new bank to adhere to high standards for dealing with environmental and labor issues. The World Bank leader said nearly one billion people are surviving on less than $1.25 a day. While that is...

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