Donald Trump Asks The World Bank To Stop Lending Money To China

US President Donald Trump on Friday criticized the World Bank for lending money to China and urged this multilateral agency to stop doing so.

"Why is the World Bank lending money to China? Is that possible? China has a lot of money, and if they don't have it, believe it. ENOUGH!" Trump defended in a message on Twitter.

Trump's criticism comes after Thursday the World Bank presented its framework with China for the period 2020-2025, which provides loans of between 1,000 and 1,500 million dollars annually for the Asian giant.


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The World Bank's announcement was also reacted by US Treasury Secretary Steven Mnuchin, who in a meeting with congressmen explained that Washington has opposed plans to lend to China.

"Yesterday we presented our objection to the country's current plan," said Mnuchin, who also explained that the United States has negotiated "significant reductions in loans from China with a goal of less than 1,000 million."

Xi Jinping, president of the People's Republic of China. / REUTERS / Aly Song /

Those negotiations to which Mnuchin referred are those that last year concluded with a capital increase of US $ 13,000 million to the World Bank, an organization of which Washington is a majority shareholder.

Loans to China were reduced from 2.4 billion dollars in 2017 to 1.300 this year.

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With his criticism of the World Bank for loans to China, Trump opens a new front in his confrontation with Beijing.

The main front of this crisis is the commercial war, which already accumulates tariffs of billions of dollars and that this December could be aggravated with new impositions if Washington and Beijing do not reach an agreement before.

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In addition, Trump recently sanctioned two bills in support of protests in Hong Kong that provide for sanctions for Chinese officials and that irritated Beijing.

Now the United States Congress is processing another bill in support of Muslim minorities in the Xinjiang Uyghur Autonomous Region, which also provides sanctions against officials in Beijing.

Source: EFE




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