The United States and Japan are locked...
The United States and Japan are locked in a power struggle over the Asian Development Bank, Japanese officials said on the heels of bank’s annual meeting, scheduled this week in Manila. The bank provides funds for development through Asia and the western Pacific, and both Japan and the United States want more say in how those funds are used. “Japan has requested an increase in its voting share, but so has the United States,” said a bank official. Washington and Tokyo currently have roughly equal voting shares of about 12% each.
More to Read
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.