China's new Asia Infrastructure Investment Bank (AIIB) is a very big deal for Asia's economic future, but the way its establishment has played out makes it an even bigger deal for Asia's changing political and strategic order. And Canberra's announcement last weekend that Australia will join the AIIB despite the objections of the United States may come to be seen as marking a  historic shift in Australian foreign policy.

As the March 31st deadline to reach a political framework agreement between the P5+1 (United States, United Kingdom, France, China, Russia, and Germany) and Iran fast approaches, Congress is considering a number of initiatives dealing with Iran’s nuclear program. Whether or not there is an agreement with Iran, the issue is bound to be a significant focal point in U.S.-Iran relations for the foreseeable future.

Japan’s government is paying to have Japanese-language nonfiction books translated into English, with the first works to be produced under the program arriving in American libraries this month. The move is one of several nontraditional public-relations steps by Prime Minister Shinzo Abe’s administration, which is trying to enhance Japan’s profile among U.S. opinion leaders and the general public as it engages in a public relations battle with China and South Korea.

Just a few days shy of China’s end-of-March deadline for founding membership in the Asian Infrastructure Investment Bank (AIIB), Australia confirmed that it will join the AIIB. Prime Minister Tony Abbott’s government announced over the weekend that it had chosen to sign on to join the bank as a founding member, becoming the latest U.S.-allied state to join an institution that some in the United States see as a competitor to U.S.-led international financial institutions, like the World Bank.

Previously strained US-Israel relations have turned “toxic,” in the words of former US secretary of state James Baker. Prime Minister Benjamin Netanyahu’s pre-election assertions are unlikely to be forgotten by Israel’s strongest ally, which has been committed for decades to the policy of two states for two peoples. While the US is currently reevaluating its options on the Israeli-Palestinian conflict, a pressing question remains: What can Netanyahu do in order to placate the White House and begin repairing this vital relationship? 

Nuclear talks between Iran and six world powers could continue right up to Tuesday’s deadline, U.S. officials said Sunday, as the two sides sought to hammer out the outlines of a final deal. The officials pointed to several unresolved issues in the negotiations, including the phasing of suspension and then lifting of United Nations Security Council sanctions on Iran, and the activities Tehran will be able to engage in during the final years of an agreement, which is now expected to last 15 years. 

Thousands of Singaporeans braved torrential rains on Sunday for a final farewell to the country’s founding prime minister, Lee Kuan Yew, whose funeral drew a long list of leaders and dignitaries from across the globe.

It is also perhaps a demonstration of Obama’s very challenging efforts to establish an “equilibrium” between Shia and Sunni forces throughout the Middle East region, especially in the Gulf. Obama explicitly made such equilibrium a strategic aim in the region in his famous interview with The New Yorker’s David Remnick 14 months ago.