Because their man Strauss-Kahn couldn't keep it in his pants, the Europeans for the first time may lose control over the IMF. Such a precedent could then later see the US losing control over the World Bank. Atlanticists of all stripes must be gripping their chairs, white-knuckled, right now.
If we can't get our own guy Montek Singh Ahluwalia into the spot, then I think India should use its enhanced voting power to support an Asian or Latin American candidate - anybody but China, of course. I assume that China will feel less trusting of an Asian country for this top slot, and would probably prefer someone from faraway Latin America.
Opening up the IMF is long overdue. The Europeans have been hogging the platform for too long.
2 comments:
Keep dreaming. EU is not about to lose control. Nor are Europeans afraid of anyone. WB and IMF were created for their benefit. They were not created to give control of the world's economy to some Third World people who are incapable of taking care of their own economy and who merely ape the West.
Admit it, Indians are awestruck by the idea of World Bank and IMF and look up to them instead of opposing them. Montek is truly another socialist idiot. Your belief that he would help India if he headed the IMF is misplaced. He will lobby India on behalf of his White masters. That is what Manmohan did during the early 90s with Monsanto, Enron, etc. Luckily, PVN's ministry focused on opening up the domestic economy.
IMF and WB need to be shut down, not strengthened.
Montek's a brown sahib.
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