It is ironic to read that USA is ‘concerned’ about governance, accountability and transparency in the proposed bank which can create problems for World Bank and IMF in Asia.
Britain’s plan to join China’s ‘World Bank’ angers Washington - Telegraph
Britain has announced plans to become the first major Western country to join a Chinese-led development bank, drawing a concerned response from the US.
The $50bn (£33.6bn) Asian Infrastructure Investment Bank (AIIB) has been feted by Beijing as a way of financing regional development, and is seen as a potential rival to US-based institutions such as the World Bank.
Chancellor George Osborne said Britain would join discussions with other founding members to set out the institution’s governance and accountability structures later this month, in a move to bolster relations with China.
“Forging links between the UK and Asian economies to give our companies the best opportunity to work and invest in the world’s fastest growing markets is a key part of our long-term economic plan,” Mr Osborne said in a statement. …
Re: Chinese rival for World Bank lures British… daddy Washington is angry
Even Israel has applied to join it.
Re: Chinese rival for World Bank lures British… daddy Washington is angry
57 countries hold signing ceremony to set up China-led bank - Yahoo News
The 57 founding member countries of the China-led Asian Infrastructure Investment Bank began signing articles of association setting up the new institution on Monday.
Australia became the first country to sign the document in the Great Hall of the People in Beijing, an AFP journalist at the ceremony saw.
The AIIB, which will have billions of dollars to lend, is expected to go into operation later this year. It has been viewed by some as a rival to the World Bank and Asian Development Bank, and the United States and Japan – the world’s largest and third-largest economies, respectively – notably have declined to join…
Re: Chinese rival for World Bank lures British… daddy Washington is angry
They are smart. They always go with idea that if you cant beat them join them. 
Re: Chinese rival for World Bank lures British… daddy Washington is angry
Rivals Pakistan, India to start process of joining China security bloc | Reuters
Nuclear-armed rivals Pakistan and India will start the process of joining a security bloc led by China and Russia at a summit in Russia later this week, a senior Chinese diplomat said on Monday, the first time the grouping has expanded since it was set up in 2001.
The Shanghai Cooperation Organisation (SCO) groups China, Russia and the former Soviet republics of Tajikistan, Uzbekistan, Kazakhstan and Kyrgyzstan, while India, Pakistan, Iran, Afghanistan and Mongolia are observers…