But there was a lot more going on, behind the scenes. Hidden on page 9 of Wall Street Journal, “IMF head continues after investigation”. the chinese Caixin and the Japanese-British Financial Times reported more prominently.
There were weeks of American pressure against the director of the Fund, the Bulgarian Kristalina Georgieva, following an investigation that accused her of favoring China, when she worked at the World Bank.
The investigation was by a Washington law firm hired by the president of the World Bank, appointed by Trump. Democratic and Republican senators went public against her. Biden’s Treasury Secretary neither answered nor returned your links.
In the final stretch, even Jair Bolsonaro was used against her. At Bloomberg, “IMF led by Georgieva bends to Brazil to mitigate climate alert”, according to “officials”.
But France, Germany, Italy, Russia and other Europeans, as well as China, opposed and blocked what the Nobel Prize winner in economics Joseph Stiglitz called “non-IMF coup attempt“.
As a context for the episode, a column in the FT reported that a proposal for an increase in the chinese quota in the Fund, which would approach the American percentage. The proposal will be presented by Georgieva.
The problem would be the “US-China rivalry”, in which the “hegemonic” country of the world financial system, since 1944, now “faces a challenger”.
Indian economist Jayati Ghosh, from Nehru University, in an article in Project Syndicate, who centralized much of the debate, wrote that “the real problem is the disproportionate power of the US” in the IMF and other institutions. the chinese Guancha agree.
MORE TRADE WAR?
In the headline of the German financial Handelsblatt, “European Union and the United Kingdom headed for trade war”. London “is threatening to abandon the Northern Ireland protocol”, which it had signed into the agreement to leave the EU.
“The answer in Brussels is that British behavior will come at a ‘high price’.”
With an image from Facebook’s headquarters in Menlo Park, Sam Biddle, do Intercept, raised and published the list of 4,000 “dangerous organizations and individuals” prepared by the company, for suppression of access and sharing of content on its platforms, which reach about 3 billion people.
Based on a US government file, the list even covers “children, hospitals and TV stations” and would be “disproportionately composed of Muslim names”.
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