It has long been convention that an American heads the World Bank, a European runs the IMF and a Japanese sits atop of the Asian Development Bank in Manila.
But now that Haruhiko Kuroda will leave his position at the top of the Asian Development Bank to become governor of the Bank of Japan, western central bankers and academics are bracing for the Chinese to launch efforts to install one of their own as Mr Kuroda’s successor.
“The Chinese have long wanted [control of] the ADB,” said Eswar Prasad, a senior professor at Cornell University and a senior fellow at the Brookings Institution.
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