No doubt times are really changing. Take note that China is no longer a Communist country but a capitalist society under a political dictatorship. China is now taking a lead into IMF high ranking positions. China is not following the path of neoliberalism either but a conservative and protectionist capitalist strategy that is creating a large privileged and very affluent minority. Such are the cadres now penetrating the Bretton Woods institutions.
Washington, Feb.26.─ China has won its highest-ever staff position in the IMF in a reflection of its growing economic might and the clamor by emerging nations for a bigger say in global finance.
IMF managing director Dominique Strauss-Kahn notified the fund’s executive board on Wednesday of his intention to appoint Zhu Min (朱民), the deputy governor of the People’s Bank of China, as his special adviser.
It is the highest-level staff position attained by a Chinese national and follows appeals by China and other emerging nations for a bigger say in the running of the IMF and World Bank, the twin Bretton Woods institutions.
Zhu, who joined China’s central bank last year after more than a decade as a senior executive of the Bank of China, is expected to assume his position on May 3, the Washington-based IMF said in a statement.
China hailed the move, saying it would pave the way for better cooperation between the IMF and emerging economies, which have battled for years for a greater voice at the multilateral table to better reflect their growing weight in the global economy.
“With the changing of the international economic structure and international relations, especially the emergence of the G20 after the financial crisis, it is necessary for international economic reform to involve multiple countries,” said Yao Jian (姚健), spokesman for the Chinese commerce ministry ...
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