Decreasing reliance on China's supply chain would be 'probably good for everyone,' says World Bank chief David Malpass, as Beijing races to climb to the top in global trade rank
Countries around the world are working to diversify their supply chains and reduce their dependence on China, which is "probably good for everyone," World Bank President David Malpass has said.
But, speaking at an event in Warsaw, he said China also needed to be part of a value system shared by other countries in the global trading system, and added, "I don't know that that will happen." But he said the World Bank continues to work well with China, which is a major shareholder and a borrower whose use of the lender's financing is shrinking. The bank is also working closely with China to encourage more transparency in its lending to developing countries, Malpass said.
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