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US Surrenders Power to Appoint World Bank President
WASHINGTON - The US is to lose its power to appoint the president of the World Bank after the UK's development secretary, Douglas Alexander, brokered a deal to throw open the post to candidates from any country.
World Bank President Robert Zoellick attends the opening plenary of the annual International Monetary Fund-World Bank meeting in Washington October 13, 2008. The US is to lose its power to appoint the president of the World Bank after the UK's development secretary, Douglas Alexander, brokered a deal to throw open the post to candidates from any country.(REUTERS/Yuri Gripas (UNITED STATES) Backed by European governments and
developing countries, Alexander overcame resistance from the US and
Japan to secure a reform he described last night as "a significant step
forward".
Washington has had the right to hand-pick the president of the World Bank since the institution was founded after the second world war, with Europe choosing the managing director of the International Monetary Fund.
Alexander said: "The agreement provides the opportunity for candidates to be nominated regardless of nationality. It will ensure that the best-qualified candidate is selected."
Developing countries have grown increasingly frustrated at the stranglehold of rich nations on the two Washington-based multilateral bodies, with pressure for change accelerating after the controversial presidency of Paul Wolfowitz, who was forced to step down after a scandal involving his partner's promotion.
Alexander said that more changes were needed: "It is a significant step forward, albeit on a much longer journey."
The bank's development committee yesterday was dominated by concerns that poor countries would fall victim to the global financial crisis. It backed proposals that will give countries from sub-Saharan Africa a third seat on its 25-strong governing board.
The bank's president, Robert Zoellick, urged rich countries not to forget their pledges of financial support to the developing world. The bank believes the number of malnourished will increase by 44 million this year.
Donor countries were also discussing whether to release a multibillion-dollar reconstruction package to Zimbabwe. Alexander said the tests a new Zimbabwean government would have to meet included respecting human rights and allowing charities into the country to deliver aid.
44 Comments so far
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Good News for the World.
and
BAD News for the NeoCon - Forced Traders!
Mendo Chuck
The first step in our "Power Loss"
America begins it's decent to equal, or maybe even lower status in the world.
Thank you Washington DC for your lack of any REAL leadership.
Now is the time for the people to make the change that Washington DC will not do.
Vote Third Party . . . Any third party . . .
Dennis Kucinich had it right: America is a nation AMONG other nations, not above them.
Now we just need to get the fact through our heads.
When we will start selling off our subs, ships, ICBMs and bases...and/or control of them? Will we mothball them?
The decline is underway.
The developing world should REJECT the World Bank's financial support.
jgoodman
Wouldn't it be nice if Robert Zoellick had to go out and get a real job? Perhaps one where his every decision didn't further impoverish the developing world in the name of free markets and expansion of capitalism.
"Dennis Kucinich had it right: America is a nation AMONG other nations, not above them." (Kane Jeeves October 13th, 2008 1:18 pm)
It always was an interesting assumption that the United States could retain its world position forever. History just does not support that particular notion. I personally believe that the United States will eventually become that "nation among nations." A strong, confident, and secure nation. There will be twists and turns along the way but you will get there
The only other option you have is to literally commit suicide and take the rest of us with you. But then I am an optimist.
"Good News for the World and Bad news for the NeoCon forced traders"
(chlorocardium October 13th, 2008 12:55 pm)
I would also add that this would in the long run be good news for the American people.
ps. Listen to Dennis. He usually has it right.
"US Surrenders Power to Appoint World Bank President"... to other multinational banks.
"When we will start selling off our subs, ships, ICBMs and bases...and/or control of them? Will we mothball them?"
Just scrap most of them. Go green and recycle. They are not worth a darn if you are worried about guys armed with box cutters. If you were to cut that so called defence budget in half you could ......(just fill in the blanks) Oh well lets just go one step at a time.
"The decline is underway" (moonpie October 13th, 2008 1:18 pm)
I don't see it that way. My take on this is that your decline is ending (empire) and you are now on the threshold of rising to become the nation you intended to be in the first place. You are on your way up not down.
Excellent point. BTW we have a "reply" feature on CD now. Its pretty groovy.
Dante
Who do you have in mind to replace us in keeping the sea lanes and trading routes open?
By giving up the Presidency of the World Bank does that mean we don't have to provide any more money to it than anyone else?
Real questions, not rhetorical.
Thomas
I have a very optimistic view of the (positive) role the United States will play in the world when it actually becomes a member among members of the world community. I am confident that the United States will emerge as a strong country. But not the only one.
As for keeping the sea lanes open I sure we can cooperatively assure the safe passage of goods on the high sea trade routes.
As for the world bank and your contributions to this organization I can only say that that is up to the United States to determine. The world (including the United States) will do just fine without the United States occupying the top spot at the world bank.
The attempts of the United States to remain the "sole global superpower" (military and economic) is what got you into the position you are in today. Any future attempts to retain this position would require more wars of aggression resulting in more innocent deaths. Have we not killed enough people to support "our way of life and values"? American prestige? National pride? These questions, Thomas, are not rhetorical.
Reagan did not defeat the Soviet system. They defeated themselves. They went broke. I do not want to see that happen to the United States. We need you in this community. We need each other.
It's about self preservation.
Somebody needs to say it. George Bush has been an incompetent bumbler in everything he's done in the last eight years. The World Bank just wants to be sure another American boob will not have the right to pick their chief ever again.
This is certainly not to disparage Barack Obama but John McCain...
Incompetent in what way. He has successfully made a lot of his friends and contributors very, very rich.
----------------------------
"To know, and not to do, is not to know"
www.samsonsworld.blogspot.com
Yes.
It is interesting and surprising how effective Bush's "average idiot" act has been. Even today some write him off as "incompetent" when the truth is that his goals weren't what we were told they were. They were much more limited. Where they have failed it seems more to do with more effective counter-forces than "bumbling" by the Bushites.
Until they are in jail for their crimes, Bush and his handlers will remain clever, clever schemers. As long as they are free and wealthy, imagining them to be "incompetent, blundering morons" is a dangerous delusion.
The Murderer is A BELOW Average Idiot:
"The Constituion of the United States says we're all--you know, it doesn't speak to the equality of America."
George W. Bush
Fucking Idiot
BillofRights
I strongly agree Matti.
You know Matti, thats a very good point. Though I assure you Bush is a dimwit. All Texans know about him. He and his handlers have accomplished most of their goals it seems when you think about it.
Maybe Dante has it right. That one annoying hyperactive child distracting the whole class has finally taken his Ritalin pill. Perhaps now some useful work can be done.
(Don't take that as an endorsement for Ritalin, just use as a rhetorical vehicle.)
Why not just ABOLISH THE WORLD BANK altogether ? They're a DESTRUCTION to the US and other countries it does business with. And thank God HUGO CHAVEZ is kicking IMF's and World Bank's ASS. If the electorate would VOTE FOR RALPH NADER, the World Bank and IMF would be DEMOLISHED IMMEDIATELY !
Yes! Hugo Chavez has developed a new "bank of the south" whose aim is to help developing nations succeed, rather than become indebted slaves to the north like the IMF and World Bank.
Recently while watching my son's favorite show with him, it occurred to me that sooner or later others around the world are going to begin to think of the US as Homer Simpson with nukes.
Or that they started thinking that about two minutes after they first laid eyes on Homer almost two decades ago. ;)
Here is my prediction: The less developed countries will try to fix the world bank. If they are at all successful the right wing nut Republicans and blue dog Democrats will try to destroy it.
If the wing nuts and blue dogs succeed the US will lose more standing in the world.
Or a useful world bank will be much improved by the removal of perverse US fascist influence and the US influence will be more realistic to our place in the world.
Another telling indication of the passing of American power under the reign of Dubya, Cheney, & Co. It is only a matter of time before oil trading switches from US$ to Euros (as Iran, Venezuela, & Russia would like) and some of the American political class finally adjust to the fact that this is now a multi-polar world where your allies and enemies changes with the particular situation. The Crawford, Texas village idiot (whom is obsessed with what his legacy will be) will go down in history as Commodus did for the Roman Empire: the reign where the decline irreversibly began.
Then history will make the same mistake it has in imagining Commodus and the Decline.
This is the beginning of the end of the U.S. as the Capitol of Empire. Will that Capitol now shift to China, India, or Latin America as it shifted to Byzantium when Rome "fell"? Will it split as it did when WWII left Europe in tatters? Will its half forgotten memes lay hidden, slowly growing and evolving in the backwaters of the World until they finally challenge for Capitol status as with the Holy Roman Empire or the Ottoman Turks?
Or will this finally be the true death of Empire, left with nowhere to hide by a Globalized Society and eradicated by the light of the Democratic Revolution?
These are definitely interesting times.
Don't Panic,
-matti.
This development is symptomatic of the emergence of a multi-polar world (post-Napoleonic Europe is an apt comparison), where the missteps of Dubya, Cheney, & Co. has speeded the process. What is ironic is that they bought the Neo-Con Kool Aid and thought the Bush debacle would be the beginning of Pax Americana, instead they sped up the leveling of the world's political playing field. What remains to be seen is if American intelligence and academic institutions have come to grips with this reality, or are they still offering Soviet Studies majors?
The US kept the Cold War going as long as possible, since it was inevitable that we decline once the Big Bad Bear was gone. I'd antedate the decline to the passage of NAFTA, tho'.
The WORLD BANK is a joke!
Look at their Charter, and then look at what they have done! The new great millenium, with a so called technologically advanced civilization, can you say
"FUCKIN LOSERS!~"
The bank's development committee yesterday was dominated by concerns that poor countries would fall victim to the global financial crisis. It backed proposals that will give countries from sub-Saharan Africa a third seat on its 25-strong governing board.
Reallllllly Now! 25 storng, NOW THAT is very representative of elitistness!
Coffeelover,,,,,,
It's called blowback. The neocons abused the power the US had to appoint the president and stuck one of their useless cronies in there, and after getting caught, it still took a tremendous effort to get rid of him. If Bush had just appointed someone honest and qualified, this never would have even come up. It's a great example of how damaged our reputation has been. How can any sane person still want these crooks in charge?
Now all we have to do is to stop the U.S. throttling and manipulating the U.N. and things will really start to look up in our world.
And if we gave Coke and McDonalds and American T.V. shows a miss we'd be heading towards Paradise!
Cheers.
www.dangerouscreation.com
zokasa44
Is it coincidence or, ploy, or whatever else you decide to think, or conjur, that in the all of the history of World bank and IMF, persons in the highest positions were of Jewish persuasion and religion. Coincidence, I think not.
Tell it like it is zokasa44. It is so sad that this comment was flagged because I'm sure it's someone claiming anti-semite bullshit. I also think that it is not a coincidence. As much as Bush and his nazi regime make me want to cry and give up hope the same go for Jews who hide behind the holocost and refuse to allow for any rational analysis of the reality of the situation in our world today. It is nothing more than control of the public mind throuh fear and intimidation; fear to be seen as anti-semetic.
Jews who deny the zionist ambition of world control are as sick as those who deny the holocaust.
This is a blow to the U.S. Banking system. Large loans are made to smaller countries thus creating large profits for U.S. banks. Now many of these loans will be going elsewhere, and the profits also. U.S. influence is thus reduced both at home and abroad. The question now is, what industry(s) will the U.S. elites turn to for large profits. I suspect the military industrial complex and possibly genetic farming. This fight is far from over.
Both the World Bank and the International Monetary Fund (IMF) - nothing more than US tentacles looking to dominate the world - should be abolished. The IMF especially, through its 'structural adjustments' with which Latin American countries are well aquainted, has caused enough pain and suffering in order to cater to the developed world.
Amen.
Nothing is wrong with being an optimist per say, but as a realist, you won't be shocked when the presumed 'savior' does not save. Think about what brought us to this precipice in the first place. Has anything really changed? No. It just shows us that the present leadership of the world is in on the scam and as corrupt as we are. What is their mission? To continue to shuttle money upward, while further impoverishing the middle and working classes (which are getting closer and closer now worldwide). The 'darkness' has ingeniously gotten us to go along with it and go against our better interests. How? First, with lies and spin. Then by polarizing us against one another and focus on meaningless blather. To maximize profit and demoralize us they started with a two prong attack to lower wages and bring us to our financial knees: outsourcing the means of production to slave labor overseas and importing slaves to work those 'menial' (and not so menial) jobs we did not want and/or were no longer qualified to perform.
So what is left for us, now that the credit party is over? Lower pay at EVERY skill level, if we can even find a job doing it. If we refuse the cut in pay, they will replace us, either by exporting more jobs or importing more cheap labor. They snicker in their high chairs as we fight each other over illegal immigration and gay rights; they laugh all the way to the bank as they eliminate worker benefits, such as health care. Most of all, though, they understand that we have forgotten how to be self-reliant and are like frightened little rabbits peeping from our rabbit holes, while screaming to THEM for help!
Emerson saw this tendency in human nature long ago, and wrote about it in his famous essay Self-Reliance:
"Society everywhere is in conspiracy against the manhood of every one of its members. Society is a joint-stock company, in which the members agree, for the better securing of his bread to each shareholder, to surrender the liberty and culture of the eater. The virtue in most request is conformity. Self-reliance is its aversion."
Time to stop eating what is eating us, folks.
"Nothing is wrong with being an optimist per say, but as a realist, you won't be shocked when the presumed 'savior' does not save"
Your assention will not be the result of a single savior but rather the results of many willing and many reluctant saviors.(the people included) It will take time.
Unfortunately, belief in human individuals and human nature will always fail us. Egoic self-interest can only serve itself. Look within and look higher (not talking religion here), and you'll see much more is possible for both you and others.
Yikes....now WHERE will the Zionist retreads from the Bush administration get a job??????
Has anyone seen this anywhere else? I googled it and only found the Guardian reporting this. I think this is HUGE and yet no one else bothers to even mention it? Time to put on my tinfoil hat again...