Republicans in US Congress show welcome signs of pragmatism

HERE is a paradox: On the one hand, the US Republican presidential primaries have become a forum for the most nationalistic, if not xenophobic, figures in the so-called Grand Old Party (GOP).

Led by Donald Trump, they have called for deporting millions of Mexican immigrants, launching trade wars against China, and challenging the traditional internationalist policies that have been pursued by Republicans and Democrats since 1945.

On the other hand, while their presidential candidates have been moving to the right, the GOP leadership on Capitol Hill has been trying to return the GOP back to the political centre, especially when it comes to the global economic arena. In that context, the most dramatic development has been the decision by congressional Republican leaders to reach a deal with the White House over an issue, the overhaul of the governance structure of the International Monetary Fund (IMF), that has been caught in bipartisan bickering in the last five years, hindering Washington's ability to exert its global leadership.