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After World Bank’s Head Quits, Donald Trump Likely To Determine The Successor

China, though a part of the World Bank, has thrown a challenge to it by setting up its own development banking institutions

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Trump, U.S.
Donald Trump. VOA

World Bank President Jim Yong Kim has announced that he is stepping down as the head of the premier anti-poverty institution putting the likely choice of its future leadership in the hands of US President Donald Trump, a sceptic of international development.

Trump’s role is expected reinvigorate challenges to Washington’s monopoly on appointing the Bank’s head.

Announcing his decision on Monday, Kim said in a tweet: “It’s been the greatest privilege I could have ever imagined to lead the dedicated staff of this great institution to bring us closer to a world that is finally free of poverty.”

Kim, 59, who is dropping out 19 months into his second term on February 1, would be joining a private company and focus on infrastructure investments in developing countries, the Bank said.

The Bank’s CEO Kristalina Georgieva will become the interim president till a successor to Kim is appointed.

As the largest share-holder, the US by tradition appoints the head of the Bank, while Europeans determine the chief of the International Monetary Fund.

Kim was nominated for the job by former President Barack Obama in 2012.

Before Trump’s election, Kim was hastily re-appointed in September 2016 to a second term that began in July 2017 with an eye on pre-empting a possible Trump nominee getting the job.

Now, however, Trump will get an opportunity to nominate the Bank’s head.

Trump’s role will resurrect and strengthen challenges to the post-World War II model of the leadership of the 189-member bank that has always been determined by the US .

Already the US nominee was challenged for the first time in 2012 by two contenders.

Trump, U.S.
World Bank head quits, Trump likely to determine successor. VOA

Colombian economist Jose Antonio Ocampo Gaviria eventually withdrew from the race, while Nigeria’s then-Finance Minister Ngozi Okonjo-Iweala lost when the Bank’s directors rubber-stamped Kim’s appointment.

Now there will be robust demands for reconsidering the US leadership of the Bank and stronger non-American contenders for the job.

Kim, a South Korea-born US citizen, was an unusual leader for the Bank: He was a medical doctor by training, a specialist in public health and an academic with a Harvard doctorate in anthropology who had led the Ivy League Dartmouth College.

But his background in health was a plus for the Bank’s mission of fighting poverty and promoting development.

Under his leadership, the Bank adopted in tandem with the UN the goal of ending extreme poverty by 2030 and focusing on the bottom 40 per cent of the population in the developing world.

The Bank’s International Development Association, which funds programmes in the least developed countries, achieved two record replenishments during his tenure, the last one in 2016 for $75 billion.

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Last April, the Bank also increased its capital by $13 billion with the unexpected support of the Trump administration.

Kim also pushed the Bank’s cooperation with the private sector for financing development in the developing world, particularly in the areas of climate change and infrastructure.

China, though a part of the World Bank, has thrown a challenge to it by setting up its own development banking institutions.

The Asian Infrastructure Investment Bank (AIIB), founded in 2016 is one of those institutions and several countries including India, Germany, Britain and South Korea have joined it. (IANS)

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We Got Trump Elected, Shouldn’t Stop Him in 2020; Says Facebook Executive

Instead, the Russians worked to exploit existing divisions in the American public for example by hosting Black Lives Matter and Blue Lives Matter protest events in the same city on the same day

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FILE - President Donald Trump departs after speaking with reporters on the South Lawn of the White House July 17, 2019, in Washington. VOA

Facebook Vice President Andrew ‘Boz’ Bosworth has claimed that it was the social networking giant that got Donald Trump elected as the US President in 2016 because “he ran the single best digital ad campaign I’ve ever seen from any advertiser”.

In a memo obtained by The New York Times, the key Facebook executive in the same vein suggested that the platform with over 2.45 billion monthly active users should not use its enormous reach to block Trump’s reelection in 2020.

Was Facebook responsible for Donald Trump getting elected?

“I think the answer is yes, but not for the reasons anyone thinks. He didn’t get elected because of Russia or misinformation or Cambridge Analytica. He got elected because he ran the single best digital ad campaign I’ve ever seen from any advertiser. Period”, said Bosworth who runs Facebook’s hardware group.

“Trump just did unbelievable work,” Bosworth wrote.

“They weren’t running misinformation or hoaxes. They weren’t micro-targeting or saying different things to different people. They just used the tools we had to show the right creative to each persona.

He continued: “I find myself desperately wanting to pull any lever at my disposal to avoid the same result. So what stays my hand? I find myself thinking of the Lord of the Rings at this moment”.

Donald Trump
Official portrait of President Donald J. Trump. Wikimedia Commons

“Specifically when Frodo offers the ring to Galadrial (Galadriel) and she imagines using the power righteously, at first, but knows it will eventually corrupt her,” he wrote.

“As tempting as it is to use the tools available to us to change the outcome, I am confident we must never do that or we will become that which we fear.”

“To be clear, I’m no fan of Trump. I donated the max to Hillary,” he tried to clarify his stand.

Bosworth said that it is worth reminding everyone that Russian interference was real but it was mostly not done through advertising.

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“$100,000 in ads on Facebook can be a powerful tool but it can’t buy you an American election, especially when the candidates themselves are putting up several orders of magnitude more money on the same platform (not to mention other platforms),” he wrote.

Instead, the Russians worked to exploit existing divisions in the American public for example by hosting Black Lives Matter and Blue Lives Matter protest events in the same city on the same day.

“Misinformation was also real and related but not the same as Russian interference,” Bosworth mentioned, admitting that Cambridge Analytica was one of the more acute cases where the details were almost all wrong. (IANS)