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Monday, March 30, 2009

China and IMF

The world wants China to play a bigger role in funding IMF;  China, in return, wants more voting power from IMF, rightly so. 

If IMF, an outdated organization out of the WWII, wants to reassert its prominence in international monetary policy making, then it should reform itself to reflect today's global economic structure and give more voting powers to emerging economies like China, India and Brazil.  This will happen.  The question is just when.

NYT reports this issue on the eve of G20 meeting in London