China Loan
Speaking of Sino-American rivalry, the U.S. has objected to a $1-billion-a-year loan to China from the World Bank. The U.S. line is that China is no longer a developing economy, so does not deserve low-interest loans from the World Bank, whose greatest contributor is the U.S. Let's see how this turns out, bearing in mind that former Trump administration Treasury official David Malpass took over as World Bank president this year. Financial Times
Speaking of Sino-American rivalry, the U.S. has objected to a $1-billion-a-year loan to China from the World Bank. The U.S. line is that China is no longer a developing economy, so does not deserve low-interest loans from the World Bank, whose greatest contributor is the U.S. Let's see how this turns out, bearing in mind that former Trump administration Treasury official David Malpass took over as World Bank president this year. Financial Times
