Germany to continue supporting AIIB despite G7 partner Canada's freeze
(MENAFN) In a notable divergence from its G7 partner, Canada, Germany has announced its intentions to maintain support for the Asian Infrastructure Investment Bank (AIIB), a Chinese state-backed financial development lender. This decision was revealed following a meeting between German Finance Minister Christian Lindner and Chinese Vice Premier He Lifeng in Frankfurt on Sunday.
Canada had previously declared its decision to freeze all ties with the AIIB in June, pending a government review. The move came in response to allegations of significant "communist dominance" within the AIIB, voiced by a former top executive from Canada at the institution. In contrast, Germany's decision to continue supporting the AIIB underscores its commitment to maintaining financial cooperation and engagement with the institution, despite concerns raised by some G7 members about Beijing's influence within it.
This contrast in approaches within the G7 regarding the AIIB highlights the varying perspectives and strategies of member nations when it comes to managing relationships with Chinese-backed financial entities. It also underscores the complexity of navigating international financial partnerships amid geopolitical considerations and evolving dynamics in the global economic landscape.
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