MANILA - US President Donald Trump's protectionist stance has "shifted" the direction of the World Bank and the International Monetary Fund, an analyst said Monday.
At a recent meeting, the multilateral organizations appeared unable to call out instances of protectionism, said Foreign Brief editor Max Klaver. The US is the largest contributor to the WB and the IMF, he said.
"If the World Bank and the IMF ease off from the promotion of free trade, that could be possibly dangerous down the line for economic growth," Klaver said.
A more protectionist US also gives rival China an opportunity to assert its influence in free trade with its One Belt, One Road project and the Regional Comprehensive Economic Partnership, a free trade area that includes Southeast Asia, Japan, Australia, New Zealand, India and South Korea.