March 31st marked the deadline to become a founding member of the soon-to-be-established Asian Infrastructure Investment Bank (AIIB), an initiative planned by China to counter the U.S.-dominated international finance structure. Despite U.S. protestations, 42 countries applied to become founding members, with 30 accepted by the deadline. A full list of founding members will be released by April 15.
The bank is part of an effort by China to proactively guide development
March 31, 2015