March 24, 2017

"Australia rejected aligning a $5 billion state infrastructure fund with China's One Belt and One Road initiative during Chinese Premier Li Keqiang's Canberra trip this time over concerns the deal may damage its relationship with the US, the Financial Times reported.

'No formal memorandum on this issue will be signed during the visit,' an anonymous Australian official was quoted as saying. Canberra also confirmed that no deal on the Northern Australia Infrastructure Facility will be clinched during the trip. It seems that Australia regards the Belt and Road initiative as a strategic tool by China to counter US clout in the region."

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