Experts: US Makes Mistakes To Oppose AIIB

Added On March 21, 2015

Experts say the United States has made a mistake in resisting joining the China-proposed Asian Infrastructure Investment Bank (AIIB).
Germany, France, Italy and Luxembourg have confirmed their intention to join the AIIB, following Britain's application last week to be a founding member of the 50-billion-U.S. dollar bank.
The AIIB, expected to be formally established by the end of 2015, will be an international financial institution to fund infrastructure projects in Asia.
The United States has insisted that it is not reconsidering entry to the AIIB, although the application deadline is set for end of this month and Australia and the Republic of Korea are expected to rethink their decisions to stay out of the bank. 
C. Fred Bergsten, senior fellow and director emeritus at the Washington-based Peterson Institute for International Economics, says the United States has opposed the bank mainly because it's a Chinese initiative.