Japan Expected to Join AIIB

Japan is likely to join the Asian Infrastructure Investment Bank within a few months, according to the country’s ambassador to Beijing, a move that would see Tokyo break ranks with Washington and leave the US as the only big holdout.

Masato Kitera told the Financial Times he agreed with Japanese business leaders’ belief that the country would sign up to the China-led development bank by June.  “The business community woke up late, but now they have mounted a big campaign for the AIIB which appears to be very effective,” Mr Kitera said.

The $50 billion AIIB has proved a flashpoint for international alliances, with Washington increasingly rattled as traditional allies — starting with the UK and including South Korea and Australia in recent days — break ranks.

CNBC