CHINA Leave World Bank: End of Western Financial Institutions?

The World Bank has faced significant criticism from the Global South due to its lending practices and the conditions attached to its financial aid. These criticisms stem from several major issues, beginning with the imposition of structural adjustment programs (SAPs) during the 1980s and 1990s. These programs, often implemented in African nations, required drastic cuts in public spending, privatization of state assets, and economic liberalization. While intended to stabilize economies and promote growth, these measures frequently resulted in increased poverty, reduced access to essential services, and social unrest.

[bulentosmane]

Nobody likes a bully and nobody likes to be taken advantage of.

[huzib.]

Let's all follow. Dump world bank and IMF

[meselemergia]

It's right time to leave world bank.

[spymaine]

THATS WHY BRICS WAS BORN. A BETTER WORLD, THIS WAY

[umarjongi]

When you hear that US is being critical you know you're on the right path.

[robnews]

The world is fed up with imperial powers

[denniscollinster]

Finally a real bank replaces the loan sharks.

[wilhelmmeyer]

Change is long overdue.
The purpose of the World Bank was to keep the rich rich and make them richer and to keep the poor poor and make them poorer. That's a self defining trait of all banks in the West/North. The World Bank is still a very successful institution in that matter.
Hopefully initiatives of BRICS members will change the world for the better.

[philipngure]

Chinese are pragmatic. They don't only say, they also do. It is time for others to emulate them.

[markfan]

Just glad that developing nations have an alternative now

[tombruce]

The game of the west has been and continues to be subjugation. But thanks to God that Era is coming to an end

[jaimerios]

GREAT. I HOPE MORE NATIONS FORGET ABOUT THIS BANK .

[greysondavid]

Good idea, many will follow.no one will be interested with the evils.

[SamsungSamsung-phln]

Wonderful China well done keep it up n God bless.

[eskapadela]

The New Development Bank, also referred to as the BRICS Development Bank and, more often as the BRICS Bank, is a multilateral development bank founded by the five member states of the BRICS group.

[Sundance]

Its was in the news the other day that whales attacked and sunk an American yacht. Just shows how intelligent these creatures are.

[bno]

GODLY people give and help, but the DEVIL people steal and kill! GOD bless all of good people.

[khiphenjanedumisani]

Look what happened in KENYA recently, I'm not surprised KENYA is an example of the world bank and IMF policies, you are so spot on 🤞

[oIBBEo]

Great👍 they have the right to protect themselves and their citizens.

[Sundance]

Thank you for this information. An eye opener to the unscrupulous practices and exploitation of these private 'shareholders' to assist the poorer countries. Hypocrisy.