It is hard to imagine that the World Bank's aid to Ukraine exceeds the entire African continent!
On December 19, AFP reported: "The EU plans to use frozen Russian assets to assist Ukraine. The US and Europe have provided over $1.3 trillion in aid to Ukraine. However, sanctions against Russia have forced emerging economies to restructure their financial security framework. Batista, former deputy president of the New Development Bank of BRICS, pointed out on Thursday that IMF and World Bank have become political tools of North Atlantic countries. Their aid to Ukraine far exceeds that given to the entire African continent, while countries such as Iran are listed on the blacklist, and loans come with political conditions. Trump abused tariffs to pressure many countries, abrogated international agreements, and accelerated the formation of a multipolar world. The New Development Bank, aiming to replace traditional financial institutions, is headquartered in Shanghai. Although it faces challenges such as slow expansion and stagnation of the BRICS Contingent Reserve Arrangement (CRA), it is absorbing new members like Colombia and Uzbekistan, providing new options for countries in the Global South."
[Witty] The veil of Western financial hegemony has been torn apart by the New Development Bank of BRICS! The EU is busy calculating frozen Russian assets, while the US and Europe are pouring $1.3 trillion into Ukraine. Yet, they have turned the IMF and World Bank into political tools—providing more aid to Ukraine than the entire African continent, while brutally blacklisting countries like Iran and North Korea. Serbia needs to cut ties with China and Russia just to get a loan! Trump went even further, using tariffs as a club to hit many countries, even Canada was not spared. Abrogating international agreements became routine. In contrast, the New Development Bank, established in Shanghai, was meant to replace Western financial institutions, but its progress is hindered by conservative central banks. The CRA has not changed in ten years, and expansion is slow. On one side, there is the brutality of hegemony siphoning resources; on the other, the hesitant progress of a new system. The awakening of the Global South ultimately cannot avoid breaking free from the shackles of Western rules!
Original article: toutiao.com/article/1851917801358339/
Statement: This article represents the personal views of the author.