US Treasury Secretary Urges World Bank to Halt Funding for China

US Treasury Secretary Scott Bessent has urged the World Bank and other global lenders to stop offering financial aid to China, arguing that the world’s second-largest economy no longer qualifies as a developing nation. He said continued funding diverts resources from poorer countries that genuinely need support.

Bessent also criticized the World Bank and IMF for straying from their original focus on financial stability, calling for stricter lending rules, greater transparency, and reforms to prevent loans to countries with unfair trade practices or opaque economies.

His comments reflect a broader US strategy to curb China’s influence in global financial institutions — a move that could reshape international aid distribution and spark political pushback among member states.

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