The United States should be a part of the China-led Asian Infrastructure Investment Bank and the attitude shown by the Obama administration in this regard till date has been regrettable, said Hank Paulson, the former Treasury secretary.

"We should join the bank," said Paulson. "It would be very difficult to have the US Congress vote for anything that's pro-China. It is a fact. I don't think if the administration wanted to join the AIIB that they could have (because of Congress). But I do think that they sure could have said, 'We want to be an observer, we want to work with you'."

"There were two mistakes made: not joining, and if we pick a fight, we want to make sure it's one that we are going to win, not one we are destined to lose," he said.