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Development Finance Emerges as the Newest Front in China’s Standoff With the U.S.

Chinese President Xi Jinping didn’t mention the United States by name when he addressed the opening of the Asian Infrastructure Investment Bank’s annual meeting this week, but he didn’t really have to in order to get his point across.

Just as he did in his speech to the World Health Assembly in May, the Chinese president leaned heavily on references to multilateralism and globalism in his AIIB address on Tuesday, in an apparent effort to draw a contrast between China and the more unilateral approach adopted by the United States (to be fair, U.S. officials reject that characterization). 

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