外文标题：Three major nations absent as China launches World Bank rival in Asia
SHANGHAI: Australia, Indonesia and South Korea skipped the launch of a China-backed Asian infrastructure bank on Friday as the United States said it had concerns about the new rival to Western-dominated multilateral lenders.
China's $50 billion Asian Infrastructure Investment Bank (AIIB) is seen as a challenge to the World Bank and Asian Development Bank, both multilateral lenders that count Washington and its allies as their biggest financial backers.
China, which is keen to extend its influence in the region, has limited voting power over these existing banks despite being the world's second-largest economy.
The AIIB, launched in Beijing at a ceremony attended by Chinese finance minister Lou Jiwei and delegates from 21 countries including India, Thailand and Malaysia, aims to give project loans to developing nations. China is set to be its largest shareholder with a stake of up to 50 percent.
Indonesia was not present and neither were South Korea and Australia, according to a pool report.
Japan, China's main rival in Asia and which dominates the $164 billion Asian Development Bank along with the United States, was also not present, but it was not expected to be.
Swami Vas (Hong Kong)
PULSE OF INDIA: Apparently, time has come for complete Asian dominance of world affairs as this century is aptly tagged a Century of India and China at least economically!
Next would be a white house in Beijing.
So officially now China can duplicate everything.
Tarun Sharma (Location)
The start of a new World order? India should stay away.
Anu Naik (Unknown)
China wants to dominate ??
raj rao (Bangalore)
China has highest voting rights in these banks, so China wants to dominate.
I think this is a good idea and India should also co operate with it. The world financial instruments like IMF and world bank set up after the WW2 at bretton woods are essentially instruments to help white countries only and are manipulated to ruin asian and african ecoomies. Their power must be reduced. No wonder the US is against this bank.
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danish khan (Kolkata)
It will be good for developing and poor countries as world bank's monopoly always creates issues for them. China is second largest economy so it should be given due importance in global affairs