After the World Bank’s “Doing Business” rankings were potentially altered to benefit China in 2017, it and the IMF have suffered almost insurmountable damage to their reputations. The scandal and subsequent investigation generated mudslinging on both sides. In the middle are government and central banks looking for a source of research and support they can trust. Harry Broadman of Berkeley Research Group said, “It would be naive to think that big, large shareholders who sit on the board, including the U.S., the U.K., the Germans and so forth, don’t carry a lot of influence.” In spite of renewed interest in the scandal, the Dow, NASDAQ and S&P 500 averages all rose around 1% in early trading.
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