“So this year the membership will expand quite substantially.” Another 25 African, European and South American nations, including Ireland, Canada, Ethiopia and Sudan, are joining China-led Asian Infrastructure Investment Bank in 2017. The bank is expected to invest more than $1 trillion over the next five years on projects that will help boost economic growth across Asia, Africa and Latin America. This is also in line with President Xi Jinping's defence of globalisation, which he highlighted at the World Economic Forum this month and in contrast to the more parochial stance of President Donald Trump, who has just pulled out of the Trans-Pacific Partnership (TPP). Australia has now mooted the possibility that the TPP could be opened up to the likes of China and Indonesia, who are keen to join.
Another 25 African, European and South American nations, including Ireland, Canada, Ethiopia and Sudan, are joining China-led Asian Infrastructure Investment Bank in 2017. The bank is expected to invest more than $1 trillion over the next five years on projects that will help boost economic growth across Asia, Africa and Latin America. This is also in line with President Xi Jinping's defence of globalisation, which he highlighted at the World Economic Forum this month and in contrast to the more parochial stance of President Donald Trump, who has just pulled out of the Trans-Pacific Partnership (TPP). Australia has now mooted the possibility that the TPP could be opened up to the likes of China and Indonesia, who are keen to join.