Talking about A necessary try for IMF

 

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A necessary try for IMF

The appointment of Zhu Min, deputy governor of the Chinese central bank, as a special adviser to the head of the International Monetary Fund (IMF), highlights China’s increasing influence in the global financial system. With the Chinese economy taking the lead in helping lift the world out of the worst global recession in decades, it would seem natural for Chinese to give more advice to more ears from the international community. In fact, the selection in 2008 of Justin Yifu Lin, a leading Chinese academic, as vice- president and chief economist of the World Bank, had started the export of Chinese wisdom that more and more global institutions seek. Now, Zhu will become the second Chinese to take on a senior management position in a top international financial organization. However, this appointment is more than simply a validation of China’s greater sway in the global financial system.

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