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
Goldman Sachs takes a $5 billion net income hit that results from its offshore cash repatriation under the Trump tax law.
Charlene Vos

2018-01-02 12:39:00 Tuesday ET

Goldman Sachs takes a $5 billion net income hit that results from its offshore cash repatriation under the Trump tax law.

Goldman Sachs takes a $5 billion net income hit that results from its offshore cash repatriation under the new Trump tax law. This income hit reflects 10%-1

+See More
Facebook, Google, and Twitter attend a U.S. House testimony on whether these tech titans filter web content for political reasons.
Amy Hamilton

2018-07-15 11:35:00 Sunday ET

Facebook, Google, and Twitter attend a U.S. House testimony on whether these tech titans filter web content for political reasons.

Facebook, Google, and Twitter attend a U.S. House testimony on whether these social media titans filter web content for political reasons. These network pla

+See More
Federal Reserve publishes its inaugural flagship financial stability report.
Peter Prince

2018-12-05 09:38:00 Wednesday ET

Federal Reserve publishes its inaugural flagship financial stability report.

Federal Reserve publishes its inaugural flagship financial stability report. Fed Chair Jerome Powell applauds both low inflation (2%) and low unemployment (

+See More
President Donald Trump criticizes Amazon over taxes and jobs.
Monica McNeil

2017-08-19 14:43:00 Saturday ET

President Donald Trump criticizes Amazon over taxes and jobs.

In a recent tweet, President Donald Trump criticizes Amazon over taxes and jobs. Without providing specific evidence, Trump accuses of the e-commerce retail

+See More
CNBC reports the Top 5 features of Apple's iPhone X.
Peter Prince

2017-09-13 10:35:00 Wednesday ET

CNBC reports the Top 5 features of Apple's iPhone X.

CNBC reports the Top 5 features of Apple's iPhone X. This new product release can be the rising tide that lifts all boats in Apple's upstream value

+See More
President Trump is open to extending the March 2019 deadline for raising tariffs on Chinese imports.
Peter Prince

2019-02-15 11:33:00 Friday ET

President Trump is open to extending the March 2019 deadline for raising tariffs on Chinese imports.

President Trump is open to extending the March 2019 deadline for raising tariffs on Chinese imports if both sides are close to mutual agreement. These bilat

+See More