the world bank wolves and the sheep

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" Nomen est omen", said the Romans in Latin the Head of the biggest global financial institution . the World Bank passes from Wolfensohn to Wolfowitz . Both ?wolves" It would be good to think over who the new "wolf" will devour As an introduction I give you some sources: See China Daily where discussion has already started: http://www.chinadaily.com.cn/english/doc/2005-03/17/content_425821.htm http://bbs.chinadaily.com.cn/articlecmt.shtml See Wikipedia: http://en.wikipedia.org/wiki/World_Bank Organizational structure: Together with four affiliated agencies created between 1956 and 1988, the IBRD is part of the World Bank Group. The Group's headquarters are in Washington, D.C.. The World Bank Group is presently headed by president (1995–2005) James D. Wolfensohn, who is president of the IBRD as well as the four affiliated institutions. A new president will shortly be nominated by the US government. By convention, the Bank president is always a US citizen, just as the Managing Director of the IMF is a European. Dominance: Membership in itself gives certain voting rights that are the same for all countries but there are also additional votes. The additional votes depend on financial contributions to the organisation implying undemocratic decisionmaking. As of November 1, 2004 USA held 16.4% of total votes, Japan 7.9%, Germany 4.5% and UK and France both ?? each held 4.3%. Task: The IBRD's four affiliated agencies are: · the International Finance Corporation (IFC), established in 1956, · the International Development Association (IDA), established in 1960, · the Multilateral Investment Guarantee Agency (MIGA), established in 1988 and · the International Centre for Settlement of Investment Disputes (ICSID), established in 1966. · The Bank also serves as one of several Implementing Agencies for the UN Global Environment Facility (GEF Critics of WB: Though repeatedly relied upon by impoverished governments around the world as a contributor of development finance, the World Bank is often and primarily criticised by opponents of corporate "neo-colonial" globalization. These advocates of alter-globalization fault the bank for undermining the national sovereignty of recipient countries through various structural adjustment programs that pursue economic liberalisation and de-emphasize the role of the state. One general critique is that the Bank is under the marked political influence of certain countries (notably, the United States), that would profit from advancing their interests. Another critique is that the Bank operates under essentially "neo-liberal" principles, under the belief that the market can solely, and by its own nature, bring prosperity to nations that practice free competition. In this perspective, reforms born of "neo-liberal" inspiration are not always suitable for nations experiencing conflicts (ethnic wars, border conflicts, etc.), or that are long-oppressed (dictatorship or colonization) and do not have stable, democratic political systems. In this point of view, the World Bank would favor the installation of foreign enteprises to the detriment of the development of a local economy End Wikipedia IMPORTANCE FOR ASIA AND CHINA See the World Bank website and its news: www.worldbank.org/ Quote: Asia-Pacific developing economies led by China need to invest more than one trillion dollars over the next five years to upgrade their infrastructure and sustain growth, Agence France Presse notes a report said Wednesday. China alone is estimated to account for 80 percent of the total amount needed, the Asian Development Bank (ADB), the World Bank and the Japan Bank for International Cooperation (JBIC) said after a joint study. The 21 economies covered in the report face a massive funding challenge with more than $200 billion required annually from public and private sources for roads, power plants, communications, water and sanitation systems during