A new report provides a startlingly frank, blow-by-blow account of the bank’s efforts in 2017 to engineer an improvement in China’s ranking
THE WORLD BANK’S Doing Business rankings, which are followed closely by leaders in China, India and elsewhere, are supposed to gauge how easy it is to do business in 190 countries. But the rankings have instead become a revealing gauge of how the World Bank itself does business under political pressure. In so doing, they have also created a dilemma for the bank’s sister institution, the IMF.
Since a country’s votes in the bank are tied to its financial contributions, a solution seemed obvious. The bank should raise more capital from its members, with emerging economies contributing a larger share than in the past. But to get America and Japan to agree to that, the bank needed China to accept a smaller increase in its financial contributions than the country’s economic size would warrant, so that it did not become too influential.
In October 2017, after the rankings were ready for the printer, Mr Kim’s aides discussed ways to improve China’s position with the Doing Business team. Perhaps China’s score could include Macau? Perhaps Hong Kong?
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