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It seems odd that an international bank for building roads and airports in Asia should become a yardstick for the rise of China as a global power and of the relative decline of the US. But that is what Beijing appears to achieved with its Asia Infrastructure Investment Bank. Some of Washington's closest allies have signed up even though it had lobbied furiously to dissuade them from doing so. Ben Hall discusses the development with Alan Beattie and Ed Luce.

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