US World Bank Pick Doesn’t Know Basic Economic Terms
This isn’t the least bit surprising, since its inception the World Bank has been a puppet of US foreign policy, a method of indebting other nations and for political favors. It’s interesting that their nominee is a medical expert, the World Bank/IMF has a long history of attaching medical stipulations to loans as a method of population reduction. One extreme case was discussed in their 1984 (no pun intended) Development Report, which suggested mobile “sterilization vans” could be used in Thailand, and vasectomy “camps” in India and Indonesia.
The front-runner to lead the World Bank, which lends tens of billions of dollars a year around the world, once admitted that he “had no idea what a hedge fund was” until three years ago when he became a university head.
Jim Yong Kim, the president of Dartmouth College, got a two-day crash course in finance back then, when the physician and anthropologist was grappling with budget troubles stemming from the 2008 financial crisis.
If he becomes the next World Bank chief, the Obama administration’s nominee will stand out from his recent predecessors. A Wall Street Journal review of Dr. Kim’s academic articles, testimony and other remarks over the past two decades show the global health expert has repeatedly pressed for more foreign aid to poorer nations, but has scant experience in many of the global lender’s typical financial and economic concerns.
Most of his work has focused on health care. When he’s delved into wider development issues, almost always in the context of health care, he complained about richer governments not coughing up enough money to address problems in poorer countries.
Dr. Kim has also praised Republican presidents, including Richard Nixon and George W. Bush, for funding programs to address health problems in the U.S. and abroad.
The Obama administration declined to make Dr. Kim available for an interview as he concludes a global “listening tour.”
Despite the controversy, Dr. Kim is still virtually certain to secure the post because of his support from the U.S., the bank’s largest shareholder.
Full Coverage @ The Wallstreet Journal