Politics, “hypocrisy” cost US global economic leadership: ex-Treasury chief

Politics, “hypocrisy” cost US global economic leadership: ex-Treasury chief

The US may no longer be in control of the global economy, warned former Treasury Secretary Lawrence Summers, urging Washington to regain dominance by honoring commitments and stopping its own hypocrisy.

China’s establishment of the Asian Infrastructure Investment Bank (AIIB), and Washington’s failure to stop its traditional allies from joining, was a development without precedent since the 1944 Bretton

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