Bessent Urges IMF, World Bank to Take Tougher Stance on China as Trade War Escalates

As trade tensions escalate between the United States and China, U.S. Treasury Secretary Scott Bessent has called on the International Monetary Fund (IMF) and the World Bank to take a tougher stance on China’s practice, while China has responded with accusations and threats to take more actions at the World Trade Organization (WTO). Analysts said the U.S. call may generate public opinion and technical pressure but is unlikely to lead to structural changes in the international organizations, and the two countries are moving to a protracted standoff over rules and supply chains. In a statement issued on Oct. 15, Bessent urged the IMF to strengthen its country surveillance activities with “objectivity and evenhandedness,” and called on the World Bank to refocus on its mission and end its support for China and shift resources to countries in greater need....