the controversial change of personnel had already been speculated, on Wednesday afternoon, US President, Donald Trump confirmed: to Be a candidate for the successor to Jim Yong Kim at the head of the world Bank, David Malpass. Kim was kicked back to the beginning of the year, surprisingly, more than three years before the actual end of his second term to work for a private investment company.
The people is therefore controversial, because of Malpass, in September of 2017, as a financial Secretary of state for international Affairs, several Statements in which he has, the world Bank sharply criticized. He said in November 2017, before a congressional Committee, the lending practice of the world Bank and the International monetary Fund (IMF), was often “corrupt”. International institutions were “a lot of money,” are not, in their functioning but “not very efficient”. Unlike claiming your probably would not did often, people in developing countries, but used those that came with “First-class-Tickets” flew, to advise the governments on the spot. With such a rather undiplomat statements he has submitted himself to the pleasure of the President, international organizations, does not generally skeptical, and has announced the commitment of the United States in these on the test bench.
Malpass wants. the world Bank reform
The world Bank was founded shortly before the end of the Second world war, to the reconstruction of Europe advance Today, the core task of the five organisations of the world Bank group, fighting poverty in the world and to improve the living conditions in the developing countries.
Malpass is regarded as a staunch supporter of a Reform of the world Bank. So he is, for example, to rate countries such as China, and to give them less credit. Because the people’s Republic will not get to the markets enough money. From its present Position in the Ministry of Finance, he has expressed in the past year, a reform package at the world Bank, the loans for countries with higher incomes, like China, is limited and expensive.
He is regarded as a China hard-liners
With the theme of China knows the 62-Year-old, he is in this issue as a Hardliner. In January, he traveled as a member of the U.S. Delegation to China to defuse trump’s trade dispute with the people’s Republic, and to set the framework for the bilateral talks last week. He will for the time being, continue to play during these discussions, a role with the trade of Robert Lighthizer representative in the coming week for the next round of talks to Beijing travel, said a senior government employee in a tele-conference on Wednesday. That China is a future world Bank chief Malpass particularly enthusiastic, is unlikely. The Trump-government accuses Beijing, among other things, unfair trade practices, forced technology transfers, and intellectual property theft, and has imposed punitive tariffs on various imports from China, on the China, in turn, with counter-tariffs, replied.
Malpass, who comes from Michigan and the economy at the Washington-based Georgetown University, had already held under previous Republican presidents Ronald Reagan and George H. W. Bush’s Post in the Ministry of Finance. From 1993, he worked at the investment Bank Bear Stearns, six years as chief economist, before the Bank collapsed at the beginning of the global financial crisis in 2008. Malpass founded his own economic analysis firm. However, his positions and predictions were already controversial. In the course of 2007 and thus in the midst of the real estate bubble wrote Malpass in a piece for the “Wall Street Journal”, “the real estate market and the debt play in the US economy are not so important”.
to see His critics for him to have failed, the global financial crisis has come before. You talk to him also, why is the necessary qualification for the top post at the world Bank.
Up to 12. April should stand, the new chief
The Board of Directors of the world Bank will accept until the middle of March applications of all 189 member countries. To the joint spring meeting with the IMF, the 12. April begins, in Washington, should stand the new boss.
At the world Bank, which has its headquarters in Washington, there is to be internally still great resistance to Malpass. But there were also voices that said that it was happy that the Americans are further in the process, and not a completely inexperienced candidate had sent. And now you have to try the New on the from the point of view of the world Bank major issues to galvanize.
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trade dispute China contra USA Trumps inch warrior
Juliane Schäuble
The USA in the composition of the top management of the world Bank traditionally, the right of proposal, while the International monetary Fund (IMF) is usually headed by a European, currently the Frenchwoman Christine Lagarde. Emerging countries such as China, Russia, India or Brazil want to do away with this unwritten rule for quite some time. But a real revolt against the nomination of Malpass, experts do not expect. Trumps the desire candidate is therefore expected to be soon, the leadership of the world Bank. (with AFP)
