{"id":1916632,"date":"2023-04-19T10:41:03","date_gmt":"2023-04-19T14:41:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/in-depth-bidens-world-bank-pick-has-ties-to-chinese-company-that-owns-tiktok\/"},"modified":"2023-04-19T10:47:14","modified_gmt":"2023-04-19T14:47:14","slug":"in-depth-bidens-world-bank-pick-has-ties-to-chinese-company-that-owns-tiktok","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/in-depth-bidens-world-bank-pick-has-ties-to-chinese-company-that-owns-tiktok\/","title":{"rendered":"IN-DEPTH: Biden\u2019s World Bank Pick Has Ties to Chinese Company That Owns TikTok"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fin-depth-bidens-world-bank-pick-has-ties-to-chinese-company-that-owns-tiktok%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1916632&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"post_content\">\n<div class=\"aplayer_app\" data-source=\"https:\/\/vs1.youmaker.com\/assets\/2023\/0419\/647dd853-917c-4eba-8dec-cb46a10dc3a6\/audio.mp3?length=4221837&#038;duration=352\"><\/div>\n<\/p>\n<p>President Joe Biden\u2019s pick to lead the World Bank has business links with China.<\/p>\n<p>Ajay Banga is currently the vice chairman at General Atlantic, a major investor of ByteDance. ByteDance is the Chinese company that owns TikTok, an app that has drawn heightened security concerns over its ties with the Chinese Communist Party.<\/p>\n<p>During Banga\u2019s tenure as CEO and president of Mastercard, the credit card company won approval in 2020 to join China\u2019s $27 trillion payments market.<\/p>\n<p>Additionally, Banga is a board member of Temasek, a state holding company of Singapore that has 22 percent of its investments in China.<\/p>\n<p>The Treasury Department has defended Banga\u2019s nomination, which requires the approval of the World Bank\u2019s executive board. The position is a five-year term that is renewable. If confirmed, Banga would succeed David Malpass.<\/p>\n<p>A department spokesperson told <a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/biden-administration-defends-world-bank-pick-tiktok\">The Washington Examiner<\/a> that \u201cGeneral Atlantic\u2019s investment in ByteDance predates Banga\u2019s work there.\u201d<\/p>\n<p>\u201cFrom his tenure at Mastercard, Banga knows firsthand the importance of taking concrete measures to protect the data privacy of consumers,\u201d added the spokesperson.<\/p>\n<h2>China Ties Alarming<\/h2>\n<p>Experts who spoke with The Epoch Times expressed alarm over the pick.<\/p>\n<p>\u201cIf the nominee does indeed have serious ties to China then his nomination could be in trouble,\u201d Desmond Lachman, who was deputy director in the International Monetary Fund\u2019s (IMF) Policy Development and Review Department and is currently a senior fellow at the Washington-based American Enterprise Institute, said in an email.<\/p>\n<p>Nonetheless, said Lachman, Banga\u2019s \u201cnomination was a blunder and reflected a poor vetting process\u201d and it does not indicate \u201cthat Biden is getting soft on China.\u201d<\/p>\n<p>However, the pick reflects Biden going easy on China, according to human rights and national security lawyer Irina Tsukerman.<\/p>\n<p>\u201cThe news of Ajay Banga having business ties to China is far from surprising, on the contrary they are fully in line with the Biden administration\u2019s ideology and policies,\u201d she said in an email. \u201cBanga\u2019s candidacy fits the pattern of other moves and nominations.\u201d<\/p>\n<p>Banga, though, was likely picked due to his business background, stated Dan Runde, the director of the Project on Prosperity and Development at the Washington-based think tank the Center for Strategic and International Studies (CSIS). Runde was the head of partnerships at the International Finance Corporation, which is part of the World Bank\u2019s umbrella organization, World Bank Group.<\/p>\n<p>\u201cI\u2019m guessing that the Biden administration mainly picked him for a couple of reasons other than China. So they picked him because he\u2019s an American citizen, that he has stature,\u201d he said.<\/p>\n<p>\u201cHistorically, there\u2019s a significant bias toward what they describe as \u2018bankers,\u2019 people with some financial experience,\u201d continued Runde, who cited Banga\u2019s experience at Mastercard and General Atlantic. \u201cAnd so they feel that this is a person who can do this role.\u201d<\/p>\n<h2>\u2018Climate Change\u2019 a Deciding Factor<\/h2>\n<p>That being said, remarked Runde, the administration<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden\u2019s pick to lead the World Bank has business links with China. Ajay Banga is currently the vice chairman at General Atlantic, a major investor of ByteDance. ByteDance is the Chinese company that owns TikTok, an app that has drawn heightened security concerns over its ties with the Chinese Communist Party. During Banga\u2019s<\/p>\n","protected":false},"author":1797,"featured_media":1916633,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[5373,3706,4117,5425,24405,3828,4926,3864,6248],"class_list":["post-1916632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times","tag-bank","tag-bidens","tag-chinese","tag-company","tag-in-depth","tag-owns","tag-pick","tag-ties","tag-tiktok"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1916632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1797"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1916632"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1916632\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1916633"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1916632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1916632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1916632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}