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China’s Influence Grows With New Infrastructure Bank

The multibillion-dollar China-backed Asian Infrastructure Investment Bank (AIIB) was launched Monday in Beijing, with founding members signing an agreement that gives the clearest signals to date about how the bank will operate.  Among them was the confirmation that China will hold the largest block of voting rights of 26 percent. Members of BRICS – Brazil, Russia, India, China and South Africa – will hold a significant chunk of the voting shares as well, with nearly 50...

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