China Says NO to the IMF and World Bank: What Next?
China has been actively developing alternative financial institutions to reduce its dependence on US-based organizations like the World Bank and the IMF. This strategic shift aims to enhance China's influence in global financial governance and provide a more diversified financial landscape for developing countries. Two key institutions in this effort are the Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB).
In this video, we delve deep into China's strategy to reduce its reliance on Western-led organizations.
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