Abbott Says Australia Is Set to Join China-Led Investment Bank
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Australia is preparing to join China’s development bank, becoming the latest U.S. ally to show support for the Asian nation’s effort to boost its influence in the region.
Australia is finalizing the process to sign a memorandum of understanding committing the country as one of the founding members of the Asian Infrastructure Investment Bank, Prime Minister Tony Abbott said Sunday in a joint e-mailed statement with other cabinet members. His government still has issues to address through continuing consultations, according to the statement.