EXPLAINER: Why World Bank is under fire over set of rankings
ABC News
The World Bank has dropped a popular report that ranked countries by how welcoming they are to businesses after allegations that it bowed to pressure from China and other governments
WASHINGTON -- Under fire for allegations that it bowed to pressure from China and other governments, the World Bank has dropped a popular report that ranked countries by how welcoming they are to businesses.
The report is important to many companies and investors around the world: They use the World Bank’s “Doing Business” report to help decide where to invest money, open manufacturing plants or sell products.
Eager to attract investment, countries around the world, especially developing economies, have sought to improve their rankings in the World Bank's report.
Sometimes, nations would pursue substantive policy changes — by, for example, making it easier for businesses to pay taxes, obtain loans or enforce contracts. Sometimes, they would take a more aggressive tack: Like pushy high schoolers cajoling a teacher for a higher grade, they would lobby the World Bank to provide a higher score on the “Doing Business” report
