Ottawa halts activity with China-led Asian Infrastructure Investment Bank – National | 24CA News
Canada is freezing ties with the China-led Asian Infrastructure Investment Bank (AIIB) whereas it probes allegations it is dominated by the Chinese Communist Party, Finance Minister Chrystia Freeland mentioned on Wednesday.
Freeland mentioned she didn’t rule out any end result of the investigation, a transparent trace that Ottawa might pull out of a financial institution it formally joined in March 2018.
The financial institution’s world communications director, a Canadian, mentioned on Wednesday he had resigned and criticized the financial institution as “dominated by the Communist Party,” allegations which the AIIB mentioned have been baseless.
“The Government of Canada will immediately halt all government led activity at the bank. And I have instructed the Department of Finance to lead an immediate review of the allegations raised and of Canada’s involvement in the AIIB,” Freeland informed reporters.
She mentioned because the world’s democracies labored to restrict their strategic vulnerabilities to authoritarian regimes, they should be clear concerning the methods such governments exercised their affect.
“The review I am announcing today is to be undertaken expeditiously. And I am not ruling out any outcome following its completion,” she mentioned.
The financial institution known as the allegations “categorically false” in a press release and mentioned “no one state or political party has any say over the strategic or operational direction of the bank.”
The Chinese embassy in Ottawa didn’t instantly reply to a request for remark.
Liberal Prime Minister Justin Trudeau was in energy when Canada joined the AIIB. The opposition Conservatives have lengthy demanded Ottawa pull out of the financial institution, saying it’s a instrument for Beijing to export authoritarianism all through the Pacific.
Freeland’s remarks mark a brand new dip in bilateral relations with China, which have been frosty for the final 5 years.
The Royal Canadian Mounted Police mentioned on Tuesday it was investigating allegations China tried to intimidate a federal Conservative legislator.
Canada has accused China of making an attempt to intervene in its affairs by way of varied schemes, together with unlawful police stations and the concentrating on of lawmakers. Beijing denies all such allegations.
— Reporting by David Ljunggren; enhancing by Jonathan Oatis and Angus MacSwan. With a file from the Canadian Press.
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