‘We are bystanders': Poor countries brace for either US election outcome

“We are bystanders to this all-important election. “All these things tend to work against the developing world’s ability to benefit from expanding trade and thereby use that opportunity for investment, growth, job creation and poverty reduction.” The inward turn of the U.S. and a more protectionist world are being accepted as a new reality among many countries regardless of who occupies the White House next year. That list includes approving a U.S. contribution for an increase of World Bank funding for the poorest countries and other global funds; renewal of the U.S. International Development Finance Corp. established under the Trump administration; reauthorization of the U.S. Export-Import Bank, which helps American companies sell to many emerging and developing economies; and renewal of the African Growth and Opportunity Act, which underpins U.S. trade relations with the continent. | Jose Luis Magana/AP Harris was the first U.S. official to meet with the Biden administration’s pick to lead the World Bank, former Mastercard CEO Ajay Banga, in 2023. “The United States under President Biden has attempted to turn the economy, domestically, in the right direction but they have kicked away the ladder for the rest of the world, especially the poorer countries, and boy, the poor countries have noticed.” Harris’ campaign advisers give no indication that her focus will shift away from prioritizing domestic workers.