Cần phiên bản cấp tiến cho Ngân hàng Thế giới

ngày càng xa rời khuôn khổ/mục tiêu ban đầu được lập nên ở Bretton Woods là hỗ trợ các chính phủ và tạo nên sự thịnh vượng, NHTG và quỹ tiền tệ quốc tế giờ đây dẫn đầu cái gọi là đồng thuận washington: tư nhân hóa hàng loạt (hầu như ko có giới hạn), thắt lưng buộc bụng và giải điều tiết/nới lỏng tài chính..., 

biến nhtg từ nhà đầu tư trực tiếp thành chỉ đơn thuần là trung gian tạo điều kiện cho ngân hàng tư nhân/tài chính tư nhân, trên thực tế, đẩy rủi ro ra toàn xã hội, vì lợi ích của các nhà đầu tư tư nhân...
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...The original (ban đầu) Bretton Woods plan (kế hoạch) was for exchange rates (tỷ giá hối đoái) to be fixed, with the IMF helping heavily indebted countries (các nước oằn mình vì nợ) restructure their debt (tái cơ cấu khoản vay) and a stabilization fund (quỹ bình ổn) curbing (ngăn chặn) capital flight (tháo chạy đồng vốn). Meanwhile, the World Bank would offer development finance (tài chính phát triển) and an international commodity stabilization corporation (tập đoàn ổn định thương phẩm quốc tế) would “bring about the orderly marketing of staple commodities at prices fair to the producer and consumer alike”. Finally, the whole system would be dollar-denominated, with the greenback being the only currency exchangeable for gold at a fixed rate.

John Maynard Keynes, the chief British negotiator at Bretton Woods, was worried that the new system could only rely on the dollar as long as America had a trade surplus. The moment the United States became a deficit country, the system would collapse (sụp đổ). So, Keynes suggested that instead of building the new world order (trật tự thế giới mới) on the dollar, all major economies would subscribe to a multilateral International Clearing Union (ICU). While keeping their own currencies, and central banks, countries would agree to denominate all international payments in a common accounting unit, which Keynes named the bancor, and to clear all international payments through the ICU.

Once set up, the ICU would tax persistent surpluses and deficits symmetrically so as to balance out capital flows, volatility, global aggregate demand and productivity. Had it been instituted, the ICU would have worked alongside the World Bank to keep the global economy in balance and build shared prosperity worldwide.

But Keynes’s ICU was rejected. The United States was unwilling to replace the dollar as the anchor of the new monetary system. And so the IMF was downgraded to a bailout fund, the World Bank was limited to lending from its own reserves (contributed by stressed member states) and, crucially, any possibility of the IMF leveraging the World Bank’s investments (like a central bank might have done) was jettisoned.

Following large US trade deficits, then president Richard Nixon announced on 15 August 1971 the effective end of the Bretton Woods system – just as Keynes had predicted.

Immediately, the private banks, which the Bretton Woods system had been keeping under a lid, sprang up and the world was taken over by financialization.

Rather than supporting governments and prosperity, the World Bank and the IMF led the so-called Washington consensus: an orchestrated campaign of mass privatization, austerity and financial deregulation. “There are virtually no limits on what can be privatized,” wrote Mary Shirley, the chief of the public sector management and private sector development division, in 1992.

...Yet as president, Kim turbocharged the bank’s commitment to private profits against the public interest. “Maximizing finance for development” (MFD), the strategy he adopted in 2015, transformed the World Bank from a direct investor in developing countries to a mere facilitator of private finance. The bank’s core activity would not be lending to governments, but to “de-risk projects, sectors and entire countries”, in effect socializing the risks on behalf of the private investors and privatizing any gains.

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