Aquino wary of AIIB due to Northrail called loan

THE PHILIPPINES needs to be “very very cautious” about becoming a member of China’s Asia Infrastructure Investment Bank (AIIB), President Benigno S. C. Aquino III said at a conference in Japan on Wednesday, with the government obliged to consider Beijing’s behavior in the Scarborough Shoal crisis of 2012, during which the Export-Import Bank of China (China EximBank) called in a loan that was to fund a rail line to Clark International Airport.