Wednesday, April 28, 2010

china and world bank Rank


http://www.chinadaily.com.cn/bizchina/2010-04/27/content_9778666.htm

China has raised in economic power to point where they can now effect world. The US still is over powering, they still have power to veto. China now has the 3 rank in voting power in the world banking. Even if it is big change and they are expected to raise more, "The nation is expected to surpass Japan to become the second largest world economy in terms of GDP this year." Still I believe it's far to catch up to USA. "The World Bank and the International Monetary Fund require 85 percent of overall votes to make a decision. But the US failed to give up any share of its voting power. "There's no substantial change so far," said Yang Fan." Even China gained about twice in voting power, It still would be difficult to get higher. I wounder how US would look at it. To gain the percent, other country need to loose their rate. And I am sure US don't want to loose any of their power over the world banking. To keep in good relationship, China should be careful. Raise also means some other country is to loose that much of power.

No comments:

Post a Comment