Obama’s big error

“The Obama administration’s negative response to China’s proposed Asian Infrastructure Investment Bank was a strategic mistake”

World Bank President Zoellick speaks at an opening news conference of the spring International Monetary Fund (IMF)-World Bank meetings in Washington

Robert Zoellick

Former World Bank boss Robert Zoellick tells the Financial Times that the new bank’s purpose – building much-needed Asian infrastructure – is a “good goal”. He said Washington’s policy on the AIIB had been “embarrassing” and wrote: “The greatest mistake the US could make is to lose the initiative in shaping a changing international system.”

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