One of the more serious problems facing the World Bank and International Monetary Fund is a long history of Western racism, the author of this article argues. 'Unless the IMF and the World Bank are willing to undergo a radical reform, not a superficial one (to prolong its power structure for Western domination), their historical relevance will come to an end soon, to be replaced by alternative global institutions when the new powers in the Asian century (and others) take their turn to reshape...read more
One of the more serious problems facing the World Bank and International Monetary Fund is a long history of Western racism, the author of this article argues. 'Unless the IMF and the World Bank are willing to undergo a radical reform, not a superficial one (to prolong its power structure for Western domination), their historical relevance will come to an end soon, to be replaced by alternative global institutions when the new powers in the Asian century (and others) take their turn to reshape the world order.'