Apropos ‘Bretton Woods twins and US control’ (May 13), a key point of contention is the potential conflict between the IMF and World Bank’s advocacy for open trade and their discouragement of protectionism, as certain US trade policies, like reciprocal tariffs, appear to deviate from this intended purpose. This discrepancy has fuelled discussions about whether US actions align with the foundational objectives of these global financial institutions.
The continued membership of the US in the IMF and World Bank arguably reflects its inherent economic interests rather than a primary focus on the overall health and stability of the global economy. The intricate relationship between US domestic policies and its role within these international organisations remains a critical dynamic in global economic governance.
Srinivasan Velamur
Chennai
Pakistan must reform
This refers to ‘India will not be deterred by nuclear blackmail, says PM’ (May 13). It’s high time Pakistan realises the importance of peace on the border and cordial relations with India. The Prime Minister sent a clear message to Pakistan that terrorism in any form will not be tolerated and Pakistan should stop supporting and sheltering terrorists.
The Pakistan economy is crumbling and the country is borrowing heavily from the IMF and other sources.
Pakistan must focus on putting its economy in order. It should also realise that China and the US are using it to serve their interests. China has border disputes with India and hence using Pakistan as a pawn to settle scores with India. Pakistan should realise that resorting to terror tactics will not serve any purpose.
Veena Shenoy
Thane
Tariff climbdown
As was evident, the 145 per cent tariff by the US on China was a non-starter as they amount to trade embargo. It was destined to end the way it ended with a 90-day pause during which period the US would levy 30 per cent tariff on China and China would in turn levy 10 per cent. Obviously, the 20 per cent extra by the US is the margin to address the concerns of the US regarding the fentanyl issue and their suspicion on China on this account. It is a strange coincidence that President Trump on the day he was taking credit for brokering a deal to stop the crisis in the sub-continent escalating into a nuclear conflict happened to be the very day on which a thaw was mentioned in trade hostilities between the the US and China
Angara Venkata Girija Kumar
Chennai