Beijing on Wednesday is officially announcing the founding members of its Asia Infrastructure Investment Bank, which will use initial capital of $50 billion — and eventually $100 billion — to invest in infrastructure projects across Asia. The U.S. has lobbied against the new institution, and to the surprise and embarrassment of the Obama administration, the list of participating nations includes nearly every major economy, except for the U.S. and Japan. --Don Lee, Los Ageles Times, 15 April 2015
