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Asian Infrastructure Investment Bank Opens in Beijing

The new Asian Infrastructure Investment Bank, backed by China as a potential rival to the World Bank and other international lenders, opened Saturday in Beijing. The 57 member nations have contributed $100 billion in capital to the AIIB, making it nearly half the size of the World Bank as it begins operations. "This is a historic moment," said Chinese President Xi Jinping, who first proposed a multilateral Asian bank to support infrastructure development projects more than two...

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