Story perspectives

U.S. Urges IMF, World Bank to Confront China's Practices

10/18/2025

Summary

Story summary

U.S. Treasury Secretary Scott Bessent urged the International Monetary Fund (IMF) and World Bank to adopt stricter measures against China's economic practices.
He called for increased surveillance of countries and the cessation of World Bank support for China, suggesting a reallocation of resources to nations with greater needs.
Bessent criticized the IMF for allowing China to delay debt restructurings, which worsens liquidity for debtor nations.
He also highlighted the need for the World Bank to address anti-competitive practices by state-owned enterprises and increase financing for critical minerals.

History

Historical Context

In 2010, the G20 nations agreed to shift 6% of voting power in the International Monetary Fund (IMF) to emerging economies, including China, reflecting their rising influence. The U.S. Congress ratified these reforms in December 2015, amid ongoing criticism of the IMF's governance structure. Today, U.S. Treasury Secretary Scott Bessent's call for stricter measures against China underscores the complexities of global economic governance and resource allocation.

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Story summary

U.S. Treasury Secretary Scott Bessent urged the International Monetary Fund (IMF) and World Bank to adopt stricter measures against China's economic practices.
He called for increased surveillance of countries and the cessation of World Bank support for China, suggesting a reallocation of resources to nations with greater needs.
Bessent criticized the IMF for allowing China to delay debt restructurings, which worsens liquidity for debtor nations.
He also highlighted the need for the World Bank to address anti-competitive practices by state-owned enterprises and increase financing for critical minerals.

1 / 2