Trump asked World Bank to stop lending to China

(Patria) – US President Donald Trump asked the World Bank to stop lending to China, after the financial institution approved a plan that includes the continuation of a credit line for Beijing despite Washington's objections.

The World Bank plan, announced on Thursday, involves providing China with USD 1 – 1.5 billion in loans annually until 2025 with low interest rates, representing a planned gradual decrease from the previous five-year average of USD 1.8 billion.

Trump tweeted on Friday, asking, 'Why is the World Bank lending money to China, is that possible?' and added, 'China has a lot of money, and when they don't, they make it. STOP,' urged the US President, who considers China too wealthy to receive international aid.

However, Martin Raiser, World Bank Country Director for China, stated that the program 'reflects the evolution of China's relationship with the World Bank' and that 'the arrangement will become even more selective.'

In 2019, the World Bank approved USD 1.3 billion in loans to China, a decrease from USD 2.4 billion in fiscal year 2017.

The question also remains whether the US and China will conclude a temporary trade deal before a new set of US tariffs on Chinese goods takes effect on December 15.

At a recent NATO summit, Trump stated that he was not in a hurry to sign a deal before the US elections in November 2020. 'When it comes to a deal with China, it's better to wait until after the elections. But they want a deal now,' Trump said.

The relationship between the two superpowers has been further strained by a new US legal move condemning China's persecution of the Uyghur ethnic minority in the Xinjiang province, as well as human rights violations in Hong Kong.

On Friday, official Beijing called on the head of public security for stronger cooperation with the Hong Kong police, as protesters announced a mass march over the weekend. One of the demands of the Hong Kong protesters is to bring the police to justice for brutality and the use of excessive force.

Hong Kong has been shaken by protests from citizens of the autonomous region for 6 months, demanding greater democratic freedoms, writes the British Guardian.