(From Reuters)

The U.S. Treasury’s top international official said on Wednesday that he believes China’s new development bank can be a “constructive addition” to the world’s multilateral lenders if it follows best practices and institutes proper safeguards.

But Nathan Sheets, Treasury undersecretary for international affairs, said that the United States is not presently considering an investment in the new Beijing-based Asian Infrastructure Investment Bank.

Sheets told a U.S. House Financial Services subcommittee meeting that the Treasury would need to see a positive track record from AIIB before considering such an investment in the future. Read more

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