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U.S. Objects to World Bank’s Lending Plans for China
The Trump administration has formally objected to the World Bank’s plans to continue lending to China, the latest flash point in a long-running battle between the world’s largest economies.
Representative Anthony Gonzalez, Republican of Ohio, who questioned Mr. Mnuchin about the bank’s work in China, introduced legislation last month that would curb World Bank funding to China by “graduating” it from the World Bank’s International Bank for Reconstruction and Development program, which allows it to take advantage of low-interest loans.
“China’s abuse of the international system needs to be stopped,” Mr. Gonzalez said on Twitter on Thursday.
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