On the 23rd, US Treasury Secretary Bessent said: "China is the world's second-largest country, and it is absurd to continue to regard China as a 'developing country'. Although many Western markets have paid a price, China's rise has been rapid and impressive. If China wants to play a role in the global economy commensurate with its actual importance, this country needs to be 'upgraded' (to a developed country)."
Bessent said that the World Bank provides loans annually to countries eligible for borrowing from the bank, including China. The World Bank should set clear timetables for countries that have already met the "graduation" standards. He suggested that the World Bank stop providing loans to rapidly developing countries like China.
Bessent's view is not new. In recent years, the United States has been working on canceling China's status as a developing country. The sole purpose of these efforts is to deliberately hinder China's development.
Original article: https://www.toutiao.com/article/1830272393326592/
Disclaimer: This article solely represents the author's personal views.