When the World Bank elevated the voting power of China,
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China gains more say in World Bank
China's influence grows at World Bank
On Sunday,
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Developing economies such as China's have been increasingly looked upon as one of the main forces behind the global economic recovery. Their eye-catching economic growth also paved the way for the building of a multipolar world. The international community must come to terms with this reality and adjust how major financial frameworks are governed.
The move is a significant step toward equitable voting power between developing and developed bank members. The developing world will have a bigger voice in promoting global development. It will also have a positive impact on global financial system reform.
The decision comes amid increasing calls,
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A recent report from the bank indicates that the global financial turmoil pushed 64 million people into abject poverty last year. Given that China has made many achievements in eradicating poverty,
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China's rising influence in the World Bank means it will have a bigger role in promoting the equitable and balanced development of the world. The country will have more chances to share its experiences and practices in alleviating poverty within the framework of the World Bank.
Editor's note: China's rising influence in the World Bank means it will have a bigger role in promoting the equitable and balanced development of the world.
(China Daily 04/27/2010 page8)
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China gains more say in World Bank
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