Why is US so upset with UK for joining China-led development bank?

  • Over last few years, China irked by US refusal to give developing countries bigger role in Bretton Woods institutions (IMF + World Bank, established in wake of WW2).
  • Accordingly, China-led rival institutions have been set up (Asian Infrastructure Investment Bank, New Development Bank, Silk Road Infrastructure fund).
  • US has accused UK of "accommodating" China after UK's decision to become the first G7 country to join the Asian Infrastructure Investment Bank.

Leave a reply