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Title:
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Canada becomes latest US ally to apply for China-backed AIIB
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Author:
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Reuters
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Source:
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The Indian Express
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Date:
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September 1, 2016
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Description:
- Canada will apply to join the China-backed Asian Infrastructure Investment Bank, or AIIB, Canadian and bank officials said on Wednesday, making it the latest ally of the United States to join the new international development bank. The multilateral institution, seen as a rival to the Western-dominated World Bank and Asian Development Bank, was initially opposed by the United States but attracted many US allies including Britain, Germany, Australia and South Korea as founding members.
