World Bank Gives More Clout to a Rising China |
|
April 26, 2010
The World Bank recognized China's growing economic influence and agreed Sunday to elevate Beijing's voting power, placing it behind only the United States and Japan in the 186-nation lending organization.
The World Bank recognized China's growing economic influence and agreed Sunday to elevate Beijing's voting power, placing it behind only the United States and Japan in the 186-nation lending organization.
Lifting China above Western powers, including Germany, France and Britain, also gives other nations with emerging economies more voice in how the bank operates and lends.
Bank members also decided to increase the institution's capital by $3.5 billion; it was the first increase in more than 20 years.
Related Links
