Journal of International Studies

It’s that time of year again. Northern birds flock south for the winter, and the world’s bankers assemble in Washington for the annual meetings of the World Bank and the IMF. Finance secretaries and central bank governors from countless nations descend upon Washington to mingle with their colleagues, leaders of the World Bank, the IMF and the titans of global finance.  For those who believe that the world is shaped by back-door conspiracies and maneuverings of the rich and powerful, these gatherings offer endless possibilities for speculation. The very same bankers who triggered the world economic crisis—those who suffered nary a consequence and in some cases walked away richer than before—come together to toast to their victories, devise new get-rich schemes and coopt even more public servants into serving their never-ending interests.  This is the way conspiracy-theorists imagine gatherings like these, and not for nothing. Just like all conspiracy theories, there ...

The World Bank has joined the Asian Development Bank in cutting its growth forecasts for emerging East Asia. However, the region is still expected to be the world’s fastest growing in 2013 , according to the Washington-based institution. In its East Asia Pacific Economic Update released in Singapore on Monday, the global lender cut its growth forecasts for “developing East Asia” to 7.1 percent in 2013 and 7.2 percent in 2014, down from its April forecasts of 7.8 percent and 7.6 percent respectively. The forecasts were higher than the Asian Development Bank, which expects  regional growth of just 6 percent in 2013 and 6.2 percent the following year  due to a slowdown in China and India. “East Asia Pacific continues to be the engine driving the global economy, contributing 40 percent of the world’s GDP growth – more than any other region. With overall global growth accelerating, now is the time for developing economies to make structural and policy reforms to sust...