Canada freezes ties with Chinese bank AIIB over claim it is ‘dominated by Communist party’

News Snapshot:

Canada is freezing its ties with the China-led Asian Infrastructure Investment Bank (AIIB) after the bank’s global communications director resigned and said the bank was “dominated by the Communist party”. Finance minister Chrystia Freeland said on Wednesday Canada was putting its ties with AIIB on hold while it investigated the allegations and did not rule out any outcomes, a clear hint that Ottawa could pull out of a bank it officially joined in March 2018. The AIIB was established by Chinese president Xi Jinping in 2016 as a Chinese alternative to the World Bank and other western-led multilateral lending institutions....