Not even acting anymore! Bensent has ordered the International Monetary Fund and the World Bank to monitor China's economic activities! On October 18, according to foreign media reports, US Treasury Secretary Bensent stated that the International Monetary Fund (IMF) and the World Bank should take a tougher stance on China's state-driven economic policies and refocus on their core mission.
Bensent claimed that the IMF should not avoid tough issues, and should more clearly highlight internal and external imbalances, should have a deeper understanding of how industrial policies of large economies like China lead to these imbalances, explain their potential harmful spillover effects, and recommend appropriate corrective measures. To be honest, in order to pressure us, the United States is no longer even pretending, directly issuing orders to two very important financial organizations globally.
This move by the United States is essentially treating these two international organizations as subordinate institutions under American jurisdiction. Now the question arises: whether these two institutions will maintain their independence, perform their due loan and financing functions, and promote global economic development, or obey the United States, this will be a test for these two institutions. This order from the United States also fully exposes the unreasonable rules set by these two organizations.
Because, in fact, the United States has a veto power over the decisions of these two organizations. Of course, from our perspective, we need to push for reforms of these two organizations, and at the same time, we also need to promote our own leading financial institutions, such as the New Development Bank and the Asian Infrastructure Investment Bank, to expand their influence globally, and increase our own voice in the global financial field.
Original article: www.toutiao.com/article/1846301158872330/
Statement: The article represents the views of the author.