Britain looking to become founding member of Chinese-led regional bank . But Washington has hit out at Britain 's 'constant accommodation ' of China . Comments are a rare breach of 'special relationship ' between UK and US . Comment: It has since pledged to put up most of the bank 's initial $ 50billion in capital . Washington fears it could undercut World Bank and International Monetary Fund . But Britain says joining will help the UK promote commercial ties with Asia .
Britain looking to become founding member of Chinese-led regional bank . But Washington has hit out at Britain 's 'constant accommodation ' of China . Comments are a rare breach of 'special relationship ' between UK and US . China first proposed a new Asian Infrastructure Investment Bank in 2013 . It has since pledged to put up most of the bank 's initial $ 50billion in capital . Washington fears it could undercut World Bank and International Monetary Fund . But Britain says joining will help the UK promote commercial ties with Asia .