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Posted on on June 28th, 2011
by Pincas Jawetz (

This lady replaces her country-man the disgraced Dominique Gaston André StraussKahn. She got prepared for the job while handling Euro’s crisis with Greece which is indeed the crises of Europe’s banks that are over-exposed to debt of the members of the EU.

The news these days in Europe is China’s move to buy Euro-debt and thus buy up European assets as well. This makes China a growing player in Europe’s financial system, as they already are in Latin America and Africa, not talking about the US itself. China will thus play the role of the IMF directly, and by gaining increasing power at the IMF as well.

China does this for many reasons but it is not the least of these reasons its Attempt to strengthen the world financial boat just to make sure that european banks do not go under. China needs them in order to keep growing worldwide while develop its own country internally.

With Ms. Lagarde’s appointment for 5 years, and doing what is needed while backing EU laggards, it seems just reasonable that next time around, or even at next year’s election of a new head of the World Bank, the major emerging States might feel strong enough to pick a choice that is different from what the old Transatlantic Alliance heads of State have in their   traditional minds formed at San Francisco in 1945 and later at Lake Success on Long Island, just outside New York City.

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