The United States and Japan are locked...
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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.
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