The White house and the world Bank are as near as a few other institutions – geographically, anyway. In just a couple of minutes of the may stroll a President to walk over to the office of Washington government of district. But, in reality, Jim Yong Kim, and Donald Trump is a deep ditch. One wants to save the global climate, and the poor from far-away continents to help. The other is fighting for the coal, badmouthing the “Shithole”Countries and sees the world Bank as one of those pesky multilateral bodies, the America, only costs money and he would be close to the loved one.
The resignation of Kim gives Trump a unhoped-for opportunity, in this goal: traditionally, an American is at the head of the world Bank, while the Europeans at the International monetary Fund (IMF), the access.
For the global challenges, there is a need for a strong world Bank, says Jürgen Zattler, the Executive Director of Germany, is to select his colleagues in the Board of Directors of Kim’s successor. Who is always The basic requirement is: “this is an excellent qualification for this Job,” he says imploringly.
From the point of view Trumps is likely to be qualifications of this personnel decision is a rather negligible criterion. Observers fear that he nominated a candidate who understands his Job is to weaken the development of the institution.
Bock = gardener
This Bock as a-gardener-a method he has used in his tenure. To the top of the EPA, he appointed a Minister who think climate change is overrated, regulation reject and the coal industry chums up. The financial Supervisory Consumer Financial Protection Bureau gave Trump his budget Director as a part-time job, had dismissed the consumer protection authority in the past as a bad “joke”. Lack of Expertise is not an obstacle, but rather a program in this Administration. New UN Ambassador to Nauert, the former Fox News presenter and spokesperson of the foreign Ministry of Heather, who brings no experience on the international stage.
in the face of such systematic policy of obstruction, has surprised many that Trump has spared the Bretton Woods institutions, the IMF and the world Bank, unlike the G20, the WTO, and the UN itself-from his wild attacks, so far, to a large extent. In fact, the United States approved by the world Bank in the spring of 2018, a capital increase in the amount of 13 billion dollars, without which it would be in lending tight.
Finance Minister Steven Mnuchin reasoned consent, to hope for the development of helper in the high-rise building on the H Street hardly more daring, with the reforms said. The financing costs for wealthier emerging countries, i.e. China, more expensive. However, most of the negotiation was due to the success of the pure disinterest of the White house, believe Insider: While the Europeans forged strategic alliances, failure on the part of the Americans to organize their resistance.
Jim Yong Kim and Ivanka Trump at the G20 summit in 2017 in Hamburg
It helped that Kim avoided the open confrontation with the White house. Instead, the world Bank for the Initiative of Trumps daughter Ivanka for the advancement of women, internally “Ivanka-Fund”. And Kim promised the US President to advise him in modernizing the American infrastructure, which also belongs to the core tasks of the Bank – it rained criticism.
However, it brought the world Bank Trumps Twitter line of fire and prevented the United States used its veto to block the project work. “Kim has mastered a simple Job well,” says Executive Director Zattler.
Trump should take the Chance to shape the office more according to his ideas. He was looking forward “with Governor colleagues in the selection of the new leadership to cooperate”, the Minister of Finance Mnuchin explain. Cooperation means from the perspective of the largest shareholder: We decide, you follow. As in the past seven decades since the founding of the Bank in 1944.
Ventures Europe the revolt?
Because the world has changed since then, but a little rehearsed for 2012 in some States, the rebellion of the dwarves. Instead, the Obama administration desired choice of American, Kim added silently, nominated two well-respected professionals, the Nigerian Ex-Finance Minister, Ngozi Okonjo-Iweala and former Colombian Minister José Antonio Ocampo. Finally, the world Bank, States had undertaken in the previous year expressly to the fact that the personnel selection “open, performance must be dependent, and transparent.” In the end it helped little. The United States pushed through its candidate.
This round will be similar to run – if the Europeans do not revolt the car. Because the United States has not according to their financial contribution, with 16 percent, while the largest number of votes, for a constructive majority, but that’s enough. So far, was never in question that the Europeans follow suit, finally, you want to retain the IMF Post.
But the provocative Trumps the staff’s proposal will be, the more difficult this Alliance will be represented. In Europe, the world Bank representative will have to ask themselves, what is more dangerous: trump’s possible revenge, or the progressive loss of relevance and legitimacy of your organization?
“We hope that the Americans will get involved even more in the case of the world Bank. Commitment means influence,” says Zattler careful. It sounds as if the Revolution would be close.