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February 23rd, 2012 
admin WASHINGTON 223 Xinhua Singapore’s “Lianhe Zaobao” 23 Journal article said that the role of the World Bank to catch up with far-reaching global changes. At present, the rise of emerging economies, poor economic conditions in the United States and Europe, is still the monopoly the World Bank and IMF summit seat. World Bank to have good leaders, there must be a prudent selection process.
Article excerpts are as follows:
Zoellick will remove the President of the World Bank, once again highlights the thorny issue of the leaders of the Bretton Woods twins – World Bank (WB) and International Monetary Fund (IMF). World Bank and IMF was born of the time, Keynes had issued a warning: if both institutions is not an outstanding leader, that they will “fall into eternal slumber, never be able to earthly courts and markets regained consciousness, people hear them the voice. “
The World Bank should re-evaluate the manner and scale of the loan
In the current environment, the World Bank’s role must be to keep up with the far-reaching global changes. More since the first time in many poor countries began to catch up with developed countries, more and more countries have joined the ranks of successful development. This means that more poor countries out of the dependence of the Bank’s concessional lending.
At the same time, the world in the foreseeable future will face many development challenges – climate change, low agricultural productivity, increasing scarcity of water resources – is becoming a global problem. Looking ahead, the Bank needs to provide loans to the government, turned to the supply of global public goods financing.
Developing countries have been increasingly successful returned to the World Bank has brought challenges as the field of development economics research and policy thinking of the role of the supervisor. Always rely mainly on the research center in the United States, World Bank, the future can no longer rely on a single generic model to the orders to the world. In all fairness, the World Bank has begun to shift to the direction of inclusive, but the new governor must has gone further in this regard, more focused on the specific circumstances and needs of the individual lender, and the experience gained from the successful development of a wider range of cases.
The Bank’s major shareholder is facing harsh choices
The World Bank’s main shareholder is also facing a stark choice. If they think that the World Bank still has a significance worthy of support, then to provide the resources but fast-growing emerging market countries, Western countries, rather than deep in debt quagmire. Therefore, the emerging countries will be reasonably requested by the operation of the Bank’s greater right to speak, especially the World Bank’s focus shifted to the supply of global public goods.
If the existing forces do not want to give up control over the Bretton Woods the international financial system will become increasingly divided. These important changes and daunting challenges, means that the primary task of the next president of the World Bank, is open and continued the pace of change, while seeking the support of Member States of the World Bank and the legitimacy conferred.
The current selection process should be changed to expand the search to understand the reality has changed and meet a key condition for the range of candidates. This does not mean to exclude the right candidates (Hillary), but the means to seriously consider other candidates such as former Brazilian President Luiz Inacio Lula da Silva, Mexico, Ernest Saidi Luo, etc..
In this changing world, the selection process has lost its legitimacy. Insist on the consequences of the old program may not, as Keynes predicted that so terrible, but the institutional rigidity of the World Bank, its stretched G7 Patron way to the same people to question, to provide callers with dwindling funding, it is indeed possible situation that appears.
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