President Joe Biden’s nominee to lead the World Bank was vice chairman of a major investor in TikTok’s Chinese parent company, his potential appointment coming as lawmakers push to ban the Beijing-owned video app.
Ajay Banga's nomination has prompted questions about the White House's vetting process at a time when bipartisan backlash over China’s suspected military and economic ambitions grows.
In recent months, TikTok retained a powerful Biden-connected Washington consulting firm founded by top White House adviser Anita Dunn, Politico's Daniel Lippman reported Thursday, the latest indicator of the embattled social media company's rocky path ahead.It’s not just TikTok. General Atlantic is invested in more than two dozen Chinese companies, including firms working in technology, finance, real estate, and biotechnology, according to its website.
Amid a widening split between Washington and Beijing, Biden’s decision to nominate a World Bank chief with close ties to China should prompt concern, said Jeff Hauser at the liberal Revolving Door Project. His administration has passed new legislation to boost U.S. semiconductor and other manufacturing, a move China criticized.
In a hearing before the Senate Intelligence hearing, Director of National Intelligence Avril Haines warned this week that China “is increasingly challenging the United States, economically, technologically, politically and militarily around the world.”The longtime executive is expected to travel to China on a listening tour as he campaigns for the World Bank role and was endorsed on Thursday by the United Kingdom, a member. Founded in 1944, the bank is traditionally led by a U.S. nominee.
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