The IMF Is Multilateralism's Last Battleground—And It Must Not Score Own Goals [Forbes]
BANK OF CHINA UNSP/ADR (BACHY)
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Source: Forbes
This is not a bright and shining moment for multilateral institutions—the cluster of international organizations established at the end of the World War II and designed to prevent world wars and beggar-thy-neighbor economic policies. With wars raging in Ukraine, Gaza and Lebanon, the United Nations appears impotent, with Secretary-General António Guterres' repeated pleas for peace mainly ignored. The World Trade Organization (WTO), the supposed guardian of rules governing the free flow of goods and services, is a disaster zone as the U.S. and Europe double-down on strategic competition with China (which I might add is not playing by the global rules either) with sweeping tariffs and industrial policy initiatives, targeted at Beijing but will have ripple adverse effects on global trade and prosperity. Which brings me to the International Monetary Fund (IMF), the multilateral institution vested with the profound responsibility of promoting international monetary cooperation and bac
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