WASHINGTON—The nominee for the U.S. Treasury’s top economic diplomacy job said on Tuesday he wants to limit China’s growing global lending influence by working with international financial institutions and development banks to give countries borrowing alternatives.
Jay Shambaugh is President Joe Biden’s choice for Treasury undersecretary for international affairs. If confirmed, the George Washington University professor and former Obama administration economic adviser would fill a crucial Treasury position that has been vacant since the Biden administration took office in January 2021.
