Don't use international organizations as tools to balance China. The United States | China | International
US Treasury Secretary Yellen recently stated at a hearing of the Financial Services Committee of the US House of Representatives that international organizations such as the International Monetary Fund and the World Bank reflect US values and play a role in "balancing unsustainable loans from China and other countries.". These remarks reflect the United States' consistent hegemonic approach and lack of respect for international law, rules, and organizations, and also tarnish China's contributions to international investment and financing cooperation.
Whether it is the International Monetary Fund, the World Bank, or other authoritative international organizations, they are all multilateral platforms reflecting the democratization of international relations, rather than private institutions of the United States. The reason why they can play a huge role and influence in the international community is that they largely reflect the interests of member states. The US claims that these international organizations reflect US values and use them as a tool to balance China, aiming to redirect geopolitical confrontation towards multilateral institutions, which will inevitably damage the authority and credibility of international organizations and affect their better role in international affairs.
World Bank President Ajai Banga told the media that he does not believe China is a so-called competitor of the World Bank, as the international community is facing urgent issues such as climate change and development. The World Bank needs to explore more ways to involve more stakeholders. This clear understanding also indicates that the US approach is unpopular.
The US side's "unsustainable loans" theory is a continuation of the "China debt trap theory" that it has been hyping. For a long time, the US has ignored facts and frequently poured dirty water on China, claiming that loans from China have led many countries to fall into a "debt trap".
China has always followed international rules and based on the principle of openness and transparency, conducted investment and financing cooperation with developing countries without attaching any political conditions or seeking any political self-interest. In this process, China is based on the development needs of various countries and helps developing countries enhance their independent and sustainable development capabilities. Over the years, we have helped African countries build and upgrade over 10000 kilometers of railways, nearly 100000 kilometers of roads, nearly a thousand bridges, and nearly a hundred ports, effectively promoting economic development and improving people's livelihoods. China has also been helping developing countries alleviate their debt burden, making the greatest contribution in the G20 debt relief initiative. On the other hand, the unprecedented interest rate hikes in the United States since last year have worsened the debt problems of many countries, using the US debt "farce" to threaten themselves and the global economy, and it is unclear how shameless they are to blame China.
Yellen also stated on the same day that the American people have benefited greatly from the US China trade, and stopping trade with China would be "catastrophic", and China and the United States must not decouple. This indicates that the US has sufficient understanding of the necessity and importance of Sino US cooperation. However, cooperation with China should be based on full respect for China. Working together under the pressure of reality, smearing China, and deliberately tying international organizations to an "anti China tank" is not the true way of cooperation.
