President Trump picks David Malpass to run the World Bank to curb international multilateralism.

Rose Prince

2019-02-07 07:25:00 Thu ET

President Trump picks David Malpass to run the World Bank to curb international multilateralism. The Trump administration seems to prefer bilateral negotiations for favorable fiscal budgets and trade deals. The World Bank serves the core mission of extending $10+ billion loans to low-income countries to fund investment projects from global markets. A close competitor is the Chinese Infrastructure Investment Bank that uses dollar diplomacy to win allies without stringent concessions (which the World Bank often would require due to multilateral involvement).

Justin Sandefur, senior fellow at the Center for Global Development, suggests that Malpass shows disdain for the World Bank mission of fighting global poverty just as John Bolton, U.S. national security advisor, shows respect for numerous U.N. endeavors. Thus, the recent nomination of David Malpass as World Bank president threatens an implicit multilateral agreement that the U.S. appoints the head of the World Bank while European Union appoints the head of the International Monetary Fund (IMF). The current IMF head, Christine Lagarde, is a former French finance minister and warns against the Sino-American trade war, which may be detrimental to the long-term global economic revival. The Malpass appointment may hence tilt the delicate balance from E.U. multilateral agreement toward U.S. dominance.

 


If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.

Blog+More

The Federal Reserve System conducts monetary policy decisions, interest rate adjustments, and inter-bank payment operations.

Dan Rochefort

2023-03-28 11:30:00 Tuesday ET

The Federal Reserve System conducts monetary policy decisions, interest rate adjustments, and inter-bank payment operations.

The Federal Reserve System conducts monetary policy decisions, interest rate adjustments, and inter-bank payment operations. Peter Conti-Brown (2017)

+See More

Amazon faces E.U. antitrust scrutiny over the current e-commerce use of merchant data.

Olivia London

2019-08-16 17:37:00 Friday ET

Amazon faces E.U. antitrust scrutiny over the current e-commerce use of merchant data.

Amazon faces E.U. antitrust scrutiny over the current e-commerce use of merchant data. The European Commission probes into whether Amazon uses key third-par

+See More

President Trump warns Google, Facebook, and Twitter that these tech titans now tread on troublesome territory.

Daphne Basel

2018-08-25 12:33:00 Saturday ET

President Trump warns Google, Facebook, and Twitter that these tech titans now tread on troublesome territory.

President Trump warns Google, Facebook, and Twitter that these tech titans now tread on troublesome territory. Specifically, Trump accuses Google of rigging

+See More

China President Xi tries to ease trade tension between America and China in his Boao presidential address.

Monica McNeil

2018-04-02 07:33:00 Monday ET

China President Xi tries to ease trade tension between America and China in his Boao presidential address.

China President Xi JinPing tries to ease trade tension between America and China in his presidential address at the annual Boao forum. In his vulnerable att

+See More

Senator Elizabeth Warren proposes breaking up key tech titans such as Facebook, Apple, Microsoft, Google, and Amazon (FAMGA).

Becky Berkman

2019-03-21 12:33:00 Thursday ET

Senator Elizabeth Warren proposes breaking up key tech titans such as Facebook, Apple, Microsoft, Google, and Amazon (FAMGA).

Senator Elizabeth Warren proposes breaking up key tech titans such as Facebook, Apple, Microsoft, Google, and Amazon (FAMGA). These tech titans have become

+See More

Trump advisor Gary Cohn aims for tax neutrality over the next decade.

Charlene Vos

2017-02-25 06:44:00 Saturday ET

Trump advisor Gary Cohn aims for tax neutrality over the next decade.

As the White House economic director, Gary Cohn suggests that the Trump administration will tackle tax cuts after the administration *repeals and replaces*

+See More