[Text/Observer Network Qi Qian] Trump's tariff policy is "changing like the weather," and the U.S. stock market, U.S. Treasury bonds, and the dollar exchange rate continue to suffer heavy losses. According to reports from Reuters and the Financial Times of the UK, on April 23 local time, while the fire in his own "backyard" has not yet been extinguished, U.S. Treasury Secretary Basente began to criticize the International Monetary Fund (IMF) and the World Bank for "deviating from their mission" and accused them of being too close to China.

Basente made the above remarks while attending the spring meeting of the IMF and the World Bank in Washington.

Basente said that the Trump administration remains committed to playing a leading role at the IMF and the World Bank, but "will require the management and staff of these institutions to demonstrate real progress." He also called on the two organizations to abandon their "large and unfocused agendas" on climate change and gender issues.

"The IMF and the World Bank have enduring value. However, the deviation from their mission has put these institutions off track," Basente said. "We must implement key reforms to ensure that the Bretton Woods institutions serve their stakeholders." He clearly expressed dissatisfaction with the two organizations on behalf of the U.S. government but did not suggest that the U.S. might "withdraw."

It was introduced that both the IMF and the World Bank were established at the Bretton Woods International Conference held in Bretton Woods, New Hampshire, USA in 1944. This conference aimed to build a stable post-war economic order and established an international monetary system centered on the U.S. dollar.

Basente made sharp criticisms of the IMF. He stated that the organization "has invested too much time and resources in dealing with climate change, gender, and social issues," which are "not part of the IMF's mission." He also implied that the IMF is too close to China.

Basente claimed: "We are willing to accept criticism, but we will not tolerate the IMF failing to criticize countries that need it most." He then repeated old accusations, slandering China for pursuing "global distortive policies and opaque monetary operations."

On the 23rd, Basente "criticized" the IMF and the World Bank Video screenshot

The report mentioned that just one day before Basente "criticized" the IMF (on the 22nd), the organization downgraded its global growth forecast and attributed it to President Trump's tariff policy. The IMF report stated that the current tariffs in the U.S. have reached the highest level since 1909, which will harm the interests of the U.S. and its trading partners.

In his speech that day, Basente also spoke harshly about the World Bank, calling it "deviating from its original mission in some aspects." He also urged the World Bank to remain "technically neutral" and invest in natural gas and other fossil fuel-based energy production.

When talking about China, Basente first praised China's economic development, saying, "China's rise is impressive and rapid." But he then, without basis, demanded that China take on more international responsibilities and criticized the World Bank for continuing to classify China as a developing country as "absurd."

Finally, Basente threatened that whether the U.S. would donate $4 billion to the World Bank fund to help the poorest countries in the future will "depend" on whether the organization follows the requirements of the Trump administration.

In response to Basente's remarks, an IMF spokesperson said that the organization will continue to cooperate with the Trump administration and "looks forward to continuing communication with the U.S. regarding its vision for the IMF." Earlier, IMF Managing Director Georgieva said that the organization is reviewing the design of its loan programs, how to determine loan terms and conditions, and plans to focus on structural reforms emphasizing the private sector and growth.

The World Bank has not yet responded. However, The Washington Post of the U.S. reported that earlier this month, World Bank President Ajai Banga wrote an article pointing out that the organization has been refocusing on its "core mission" over the past two years, emphasizing job creation, including expanding cooperation with the private sector. Banga also said that he believes its reform plan meets the wishes of the Trump administration.

On the same day that Basente looked down on international organizations and made pointed comments, local time on April 23, the United Nations Security Council held an Aliya model meeting on "the impact of unilateralism and bullying behavior on the international order."

CMG International Timely Information

According to CMG International Timely Information reports, at the meeting that day, representatives from multiple countries spoke out against unilateral tariff increases and called for the restoration of fair and predictable multilateral trade order. Compared with the positions of most participants supporting multilateralism and opposing unilateral actions, the speech of the U.S. delegation seemed isolated and confrontational.

Ambassador Fu Cong, Permanent Representative of China to the United Nations, delivered a keynote speech. He pointed out that recently, the U.S. has imposed tariffs on all trading partners under various pretexts, seriously infringing on the legitimate rights and interests of all countries, seriously violating the rules of the World Trade Organization, seriously damaging the multilateral trading system based on rules, and seriously impacting the stability of the global economic order. By打着所谓追求 "对等" "fairness" 的旗号搞 zero-sum game, the essence is to overturn the existing international economic and trade order with tariffs, to place American interests above the common interests of the international community, and to sacrifice the legitimate interests of the entire world to serve American hegemonic interests.

Fu Cong emphasized that as a permanent member of the UN Security Council, China practices genuine multilateralism, firmly opposes hegemonism and power politics, and always upholds justice and advocates fairness. In the face of the U.S.'s backward tariff imposition, China stands up and takes countermeasures not only to protect its own legitimate rights and interests but also to uphold the common interests of the international community, including small and medium-sized countries, and to defend international fairness and justice.

This article is an exclusive article by Observer Network and cannot be reprinted without permission.

Original text: https://www.toutiao.com/article/7496746845810377252/

Statement: The article represents the views of the author alone, and you can express your attitude by clicking the [Agree/Disagree] buttons below.