‘China upsets global economic order’

WASHINGTON, D.C.: With its huge new infrastructure bank and its ambitions for a globalized renminbi currency, China is leading the upending of a 70-year-old global order built on American economic power.

Beijing’s rise was confirmed this week at the Spring meetings of the World Bank and International Monetary Fund (IMF) in Washington, the two institutions by which the economic vision of the United States has been propagated across the world since their founding in 1944.