Reuters reports Thursday that the China-led Asia Infrastructure Investment bank has approved thirteen new members to join. The members include Canada, which was a previous holdout partly at the behest of the US.
The Obama administration looked weak when it tried to pressure allies against joining the AIIB, an attempt that looks even sillier in hindsight than it did at the time. Is it time for the US to swallow its pride and join now, lest they look even more foolish should they want to participate even further down the road?
The answer is probably yes, despite the fact that they won’t consider it. The win for China would be temporary, and the US influence in the Bank would only further dilute China’s pull within the institution. But, for now, the US is content to be the odd man out.