The World Bank and the International Monetary Fund are hosting a gathering this week with central bank governors, finance ministers, private sector participants, and civil society organizations from around the world coming to Washington. They are seen as central to the international financial system.
These organizations aim to involve all nations in their activities, not just those that were originally involved in economic integration after World War II. This approach may not be suitable for financial institutions like the World Bank and IMF, which were designed by the West to promote development and economic growth. Non-market economies like China may not be suited for participation.
Dan Katz, an adjunct fellow at the Manhattan Institute, and D.J. Nordquist, a senior advisor at the Center for Strategic and International Studies, have shared their perspectives on the involvement of different nations in these institutions. They believe that these organizations were not created to promote the interests of all nations, especially those with non-market economies.