Pursuits
Canada to Join China-Led Infrastructure Bank in Win for Xi
- Canada’s move leaves the U.S., Japan as only G-7 holdouts
- Trudeau seeks to reset relations with China after rough start
China's President Xi Jinping.
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Canada will join China’s new $100 billion Asian Infrastructure Investment Bank, a diplomatic victory for President Xi Jinping just before he hosts the Group of 20 summit.
In applying for membership in the China-led development lender, Canada will become the first North American country to join, Finance Minister Bill Morneau said Wednesday after a meeting with AIIB President Jin Liqun in Beijing. Earlier in the day, China agreed to ease its restrictions on canola seeds from Canada, the world’s top grower of the crops used to make cooking oil and animal feed.