May 12, 2017
By: Brian Spegele
(The Wall Street Journal) Brazil is slashing its planned stake in China's landmark infrastructure development bank, in a growing pain for Beijing's efforts to create alternative global institutions to place its stamp on the world order.
After initially pledging to take nearly 32,000 sharesâ€”worth more than $3 billionâ€”when signing as a founding member of the Asian Infrastructure Investment Bank in 2015, Brazil informed the AIIB in recent months that it will subscribe to 50 shares, said people familiar with the matter. The decision was based on domestic considerations, particularly measures to cut government spending...
Read More At The Wall Street Journal: https://www.wsj.com/articles/brazil-cuts-stake-in-china-led-infrastructure-bank-1494596694