Realistically, the new American bank’s impact on China is very limited, but China still needs to be cautious about America’s intentions.
According to decades of unwritten rules, the Fed Chair plays a pivotal role in determining monetary policy or specific measures for overcoming crises.
The White House is obviously only acting according to the will of the banking lobby, without really taking into account the wider public interest.
But as much as Washington talks about “fighting corruption,” it refuses to do it for real. Why? Because a corrupt official is an excellent tool that works in Washington’s interest.