China, it seems, has chosen the route of multilateralism as opposed to unilateralism which has been the longstanding approach of the United States of America. America, as the world’s richest country, has greatly benefited in the existence of the Brent Woods Institutions which are the World Bank and the International Monetary Fund. They called the shots and everyone else obliged. But from the look of things it seems the long honeymoon is over.
It has become very apparent that the current existing world finance system has failed most of the world’s poor countries. Instead of pulling these countries out of the mud of poverty, they have instead made matters worse. I have said in the past and will continue to say it; that the existence of the rich is very much dependant on the availability of the poor. The wider the gap between the rich and the poor, the more comfortable and secure the rich will remain. So in other words the rich are sustained by the poor. This analogy does not only apply to individuals, it also fits well in the ways that countries relate and treat each other.
