Trudeau says Canada seeking to join controversial Chinese infrastructure bank
BEIJING — Justin Trudeau has announced plans to apply for a controversial new international infrastructure bank led by China — an initiative Ottawa insists will provide a boost to global and Canadian growth.
The Canadian government made the announcement Wednesday after the prime minister met with Chinese Premier Li Keqiang in Beijing. Ottawa did not immediately specify how much money it would put into the eight-month-old bank.
China established the Asian Infrastructure Investment Bank in hope of building its economic credibility around the world. The bank will provide other countries in the region access to capital for projects like transportation, power and telecommunications.
Finance Minister Bill Morneau, who is travelling with Trudeau in Beijing, expects the bank to make an important impact on the global economy, and therefore the Canadian economy, through infrastructure investments.