Then International Monetary Fund managing director Christine Lagarde (right) waves from her office in Washington on September 20 after meeting her successor Kristalina Georgieva. The anachronistic “gentlemen’s agreement” that has kept an American in charge of the World Bank and a European in charge of the IMF has proved resilient. Photo: AFP
Opinion
Opinion
When will the Western-led global order catch up with the world and include Asia?
- The world order has not kept pace with the shifting economic dynamics. The US and EU retain control of the IMF and World Bank despite Asia’s economic might, and the US dollar remains predominant despite Trump’s weaponisation of it
Then International Monetary Fund managing director Christine Lagarde (right) waves from her office in Washington on September 20 after meeting her successor Kristalina Georgieva. The anachronistic “gentlemen’s agreement” that has kept an American in charge of the World Bank and a European in charge of the IMF has proved resilient. Photo: AFP