From the article:
Last week’s China-led G20 summit brought new commitments from presidents Obama and Xi to work together on critical issues like climate and global development. On both fronts, the United States, China, and the rest of the G20 are looking to the World Bank and other multilateral development banks (MDBs) to play a central operational role. Yet, this spirit of cooperation belies an underlying tension between the world’s two largest economic powers over who will lead the MDB system. This is not an academic problem; for the last sixty years, the United States has relied on the MDBs to complement its bilateral aid and promote its values and objectives abroad. In a new paper published by the Council on Foreign Relations, I argue that the time has come for the United States to address a number of self-imposed obstacles to MDB leadership in the face of an ascendant China.
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