“We need to be an open market and this is not only about quotas and tariffs but, increasingly, Europe and other countries use sanitary and private sanitary standards as a way to block these products," says Zoellick. " And part of this is understandable, countries have standards, we need to help the developing countries have products that meet those standards, but some of this could be a new form of protectionism.”
With regards to China’s role in Africa, Zoellick says: “The Chinese are putting a lot of investment into Africa for resource development. That can be good if it is done in a way that doesn’t feel bad, doesn’t feel like corruption.”
In all other respects, taking the present financial crisis into account, “It is in our interest to work with China whether on transparency in terms of Sovereign Wealth Funds, development in Africa, currency and trade issues.” That gives China the chance to be a responsible stakeholder in the international economic and development system. “Sovereign Wealth Funds which would have been a fearsome factor in the autumn of 2007, in 2008 may be the critical source of capital coming back into the market,” Zoellick said.
With regards to the many regional development banks that have appeared in South America, Asia and Europe as well as foundations and growing bilateral aid – from Germany as well – the World Bank has developed a new understanding of their role. “We have to see ourselves as a catalyst in a network which is what we increasingly do. We apply this expertise and the knowledge, we pull parties together. I don’t think competition is a bad thing in the development field. However, we have to make sure you harmonize the efforts.”
