A U.S.\u002DChina trade war has morphed into an ideological fight dividing the global economy with international banks in the middle. Read on.
Finance Minister Chrystia Freeland in Washington, D.C., in April.The world has changed drastically since then, with Donald Trump’s administration starting athat morphed into a wider ideological fight that is starting to bifurcate the global economy. And international financial institutions are getting caught in the middle.
Chinese citizens make up about 35 per cent of the bank’s total staff, the AIIB told Bloomberg. The bank was, however, struggling to recruit overseas candidates as people were increasingly reluctant to move to China, according to a current AIIB staff member, who asked not to be identified because they were not authorized to speak publicly.
“I wouldn’t even know who is a member of a Communist Party,” he added. The AIIB did not reply to request for comment on its ability to recruit overseas candidates. Despite that, the AIIB had gone to “great lengths” since its founding to establish itself as a multilateral institution free from undue influence from the Chinese government, added Segal, a former U.S .Treasury official and IMF economist.
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