Australia plans to join the Asian Infrastructure Investment Bank, it said yesterday, reversing a previous decision to stay out of the China-led institution. But it has placed conditions on its future membership of the bank in an attempt to mollify concerns expressed by its main military ally, the US.
“The government is today announcing it intends to sign a memorandum of understanding on the Asian Infrastructure Investment Bank, which would allow Australia to participate — as a
prospective founding member — in negotiations to set up the bank,” the prime minister’s office said in a statement.
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