The anti-China turmoil lies in the fight against Georgieva of the IMF

Edits of Kristalina Georgieva

Author and director of the Center for Sustainable Development at Columbia University

The deadly attack on IMF chief Kristalina Georgieva has little to do with the bias of World Bank data or its management. It is about China’s role in the Washington-based multilateral institution. Many in the US Congress want Georgieva to step down because he is not a sworn enemy of Beijing.

According to three Republican lawmakers at Letter to the Secretary of Treasure Janet Yellen, Georgieva’s comments “show how the Chinese Communist Party, in pursuing their own interests, is disrupting many institutions such as the fund, the World Health Organization, and the United Nations. China feels free to have a say in how international organizations operate; their lack of commitment to international affairs shows why they should not be allowed to do so. ”

The letter also calls on the Treasury to explain how “Director Georgieva linked Chinese delegates to the fund” which led to the approval of $ 650bn of SDR funding, as well as “China’s encouragement on shared reform” at the IMF. All of this reflects the growing interest in the US and China.

The program of the real point against Georgieva is in the face: that he relied on the World Bank data group to change the Chinese ranks and minority positions in the World Bank index. The World Bank’s 2018 chief of staff, Shanta Devarajan, a respected economist and former professor at Harvard University, denies that Georgiaieva pressed him and his team. According to Devarajan, the Free Business Group always makes decisions on a number of issues, such as whether the book code really works. It was not uncommon for governments to question the phones and ask the bank to review the evidence.

After Georgieva left the bank in a bag, China climbed the list, indicating that the 2018 ranking was not overdone. With Republican David Malpass leading the World Bank, China is on the rise 31st in 2020, and to 25th in the unpublished 2021 report, which Malpass has now suspended. He he says he says affected in the last two years of the rise and fall of China.

The accusation of Georgieva’s violation of World Bank securities is fraudulent in view of the political crisis in which the US Congress gives the US government and the World Bank to send billions of dollars to US-funded governments (such as $ 5.3bn in Afghanistan at a time when the US is living) trying to ban money from a government that has money near China and Russia.

Most or all in Congress do not oppose the pressure on the World Bank and the US, but they send a message against the idea of ​​any action, even if it is a minority, that would favor China.

Georgieva is receiving McCarthyite treatment of a type that Washington has long been known for. President Joe Biden’s advisers, counting the votes in a highly divided Congress, are watching closely, not wanting to fight more wars with Republicans and anti-Chinese Democrats. China’s anti-government forces hope that by making enough noise, all will think “for the benefit of the organization”, in peace and order, Georgieva should go. Experts have also agreed.

Such effects can be dangerous and cheap in anti-Beijing prices.

American liberties in particular are trying to overreact to a multi-ethnic system. In the minds of many in Washington, either the US is running various agencies or should leave. Under President Donald Trump, the US abandoned the seasonal alliance of Paris, the World Health Organization, Unesco and the UN Human Rights Council. For allies in Congress, and there are many, the US is expected to oversee the World Bank and the IMF.

If the US government, in the fight for religious freedom, fires Georgieva, it could prove that the IMF is a US-led organization with a multi-stakeholder strategy. China, Russia and others can go their own way. This could be detrimental to global trust, economic stability and many countries. We will soon return to the nakedness and economics of the 1930s that exacerbated the Great Depression and put the world on the path to total war.

Let’s face it – we’re not all that close. The lawsuit against Georgieva is incomplete. The cooperation between the IMF is crucial to global economic stability. The IMF should not adopt an anti-China rhetoric.

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