Source: AFP: World Bank ex-chief says power heading east; BBC: Rich nations ‘ignore’ power shift
On September 21, former World Bank president James Wolfensohn alerted Western countries of the rise of developing countries in Asia. During his speech at the Asian Financial Forum in Hong Kong, Wolfensohn advised the West to change its currently condescending approach to the up-and-coming Asian powers, which include both China and India. He advocated constructive engagement with these emerging donors as they continue to strengthen their ties with developing countries in Africa.
Discussion:
How should the World Bank, IMF, and other international financial institutions allow for emerging donors like China and India to play a greater role in the governance systems of these institutions? Would this present any conflicts of interest for China and India because they are still receiving aid from these institutions?
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