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

Paul Morland suggests that demographic changes lead to modern economic growth in the current world.

Laura Hermes

2023-10-28 12:29:00 Saturday ET

Paul Morland suggests that demographic changes lead to modern economic growth in the current world.

Paul Morland suggests that demographic changes lead to modern economic growth in the current world. Paul Morland (2019)   The human tide: how

+See More

Lyft seeks to go public with a dual-class stock ownership structure that allows the co-founders to retain significant influence.

Amy Hamilton

2019-03-11 10:32:00 Monday ET

Lyft seeks to go public with a dual-class stock ownership structure that allows the co-founders to retain significant influence.

Lyft seeks to go public with a dual-class stock ownership structure that allows the co-founders to retain significant influence over the rideshare tech unic

+See More

President Trump introduces $50 billion tariffs on Chinese products and new limits on Chinese high-tech investments in America.

Apple Boston

2018-05-25 07:30:00 Friday ET

President Trump introduces $50 billion tariffs on Chinese products and new limits on Chinese high-tech investments in America.

President Trump introduces $50 billion tariffs on Chinese products and new limits on Chinese high-tech investments in America. This new round of tariffs

+See More

President Donald Trump releases his plan to slash income taxes for U.S. citizens and corporations.

Jacob Miramar

2017-09-03 10:44:00 Sunday ET

President Donald Trump releases his plan to slash income taxes for U.S. citizens and corporations.

President Donald Trump has released his plan to slash income taxes for U.S. citizens and corporations. The corporate income tax rate will decline from 35% t

+See More

U.S. government shuts down again because House Democrats refuse to spend $5 billion on the border wall.

Amy Hamilton

2019-01-19 12:38:00 Saturday ET

U.S. government shuts down again because House Democrats refuse to spend $5 billion on the border wall.

U.S. government shuts down again because House Democrats refuse to spend $5 billion on the border wall that would give President Trump great victory on his

+See More

AYA finbuzz podcast offers fresh insights into the latest stock market topics and economic trends for better stock investment decisions.

Amy Hamilton

2019-08-31 14:39:00 Saturday ET

AYA finbuzz podcast offers fresh insights into the latest stock market topics and economic trends for better stock investment decisions.

AYA Analytica finbuzz podcast channel on YouTube August 2019 In this podcast, we discuss several topical issues as of August 2019: (1) Warren B

+See More