Bessent criticized the World Bank's policy towards China

The head of the US Treasury Department, Scott Bessent, said on April 23 that the World Bank should stop issuing loans to China as a "developing country."

"The [World] Bank should set clear deadlines for graduation from the category of countries that have long met the criteria for graduation from the category. Treating China, the second largest country in the world, as a developing country is absurd," he said in a speech to the Institute of International Finance in Washington.

Bessent also stressed that the World Bank should pay attention to China's monetary policy, which he called distorting and opaque.

The head of the US Treasury Department pointed out that China's current economic model is export-oriented, which harms not only Beijing itself, but the whole world.

A clear barrier: why the US wanted to conclude a trade deal with China

If the parties do not agree, it will affect the entire global trade.

On April 22, the head of the US Treasury Department, Scott Bessent, said that the ongoing trade standoff between Washington and Beijing is unstable, and its de-escalation may occur soon. At the same time, he noted that official negotiations between the United States and China have not yet begun. In his opinion, they will be quite heavy.