Federal has released the news that interest rate hike , and will continue to increase the US dollar reserve by 75 interest basis points, which will undoubtedly drive global funds back to the United States. This is an important means for the United States to transfer its own domestic inflation . After the United States announced a rate hike, Malpass, the president of World Bank , also claimed in an interview with the media that he wanted China to help the United States share the pressure, such as lowering its domestic interest rates, and helping the United States return funds to overcome the economic crisis .
But such remarks are very absurd, and the World Bank president has actually had a counterproductive effect in pleasing the United States in this way. The White House condemned him on the grounds of climate issues.
The President of the World Bank asked China to set an example and share the pressure
We all know that the current economic pressure in the United States is relatively serious, the inflation rate in the United States has increased for months, and the government is very weak in dealing with the economic crisis. Under the urgency, the Federal Reserve promoted the interest rate hike policy, with the purpose of which was to be able to use higher interest rates and allow international funds to return to the United States, but this would inevitably cause global inflation.
The United States' move is undoubtedly transferring its own domestic inflation to the international market, allowing the whole world to help the United States share risks. The United States can do such a thing because the US dollar is still the most important international trade currency. The existence of US dollar hegemony has made many economic means that other countries have no way to use.
Then World Bank President Malpass claimed in an interview with the media that the current global economic development speed is gradually slowing down, which is directly related to the economic crisis in the United States. As the world's second largest economy, China should bear risks for the entire world, such as helping the United States share inflationary pressure.
However, this view is very absurd, because the US economic crisis has no connection with China itself. Why should China sacrifice its national interests to help the United States? The World Bank president's political attitude is quite obvious. What is even more unexpected is that the White House quickly spoke out to condemn Malpass's views.
The White House administration condemned Malpass, saying that he denied climate change
Malpass's statement was undoubtedly due to the fact that he himself is an American and has served as a senior official in the US government, so he hopes to use his identity to help the United States carry out a wave of public opinion propaganda. But what no one expected was that the White House was not polite.
White House spokesperson criticized Malpass when hosting a regular press conference. The US government believes that Malpass has been evading the issue of his role in global warming, so some American politicians believe that he is not competent. But this can be regarded as a routine in the United States. Although Malpass is speaking for the United States, he is an Republican after all, and the Democratic Party must not like him.
Source: International Tourism Island Business Daily
