Chinese President Xi Jinping, right, extends his hand as Canadian Prime Minister
Justin Trudeau introduces the Canadian delegation before a meeting
at the Diaoyutai State Guesthouse in Beijing, China on Wednesday, Aug. 31, 2016.
The Obama administration increasingly finds itself on the outside looking in as Canadian officials announced Thursday plans to apply for membership in the Asian Infrastructure Investment Bank, the first North American country to join the China-founded development bank.
Chinese President Xi Jinping hailed the announcement, made as Canadian Prime Minister Justin Trudeau was making his first official trip to Beijing since his election in November.
Canadian Finance Minister Bill Morneau revealed the plan to apply for AIIB membership at a Wednesday press conference in the Chinese capital.
The AIIB opened its doors in December with a capital base of $100 billion. It now has 57 members, and in June the bank’s board said another 24 countries were considering membership.
“The decision of Canada to apply to join AIIB is very welcome and shows its confidence in the strong foundations the bank has built in our first few months,” Jin Liqun, the former Chinese Finance Ministry official who now serves as the AIIB’s first president, said Wednesday.
Mr. Trudeau hailed what he said was a new era in Chinese-Canadian relations, announcing plans to meet annually with Chinese Premier Li Keqiang to discuss issues ranging from national security and climate change to women’s and children’s rights.
He stressed that the relation between Cananda and China is moving to a new era, and more efforts have to be taken in both sides.
Washington Times
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