Today President Bush declared his choice to fill the position of President of the World Bank to be Paul Wolfowitz. Currently Undersecretary of Defense, Wolfowitz was one of the primary architects of the 2003 invasion of Iraq. Considered to be one of the leading "neo-conservatives", Wolfowitz is a longtime member of the "Project for a New American Century" and has long promoted the idea that the U.S. exert itself to achieve total global military dominance.

The World Bank, which was created supposedly to promote development in poor countries, has, along with its sister organization the International Monetary Fund, consistently followed policies that hurt developing economies rather than helping them. This trend became particularly pronounced with the adoption of neo-liberal economic policies during the early eighties. How the neo-liberal economic policies promoted by the World Bank combine with the neo-conservative ideals of Paul Wolfowitz remain to be seen, but it can be safely assumed that the combination of the two will not be good news for the "developing" world.