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The following article was published in our article directory on December 9, 2010.
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Western Countries Should Not Continue to Occupy World Bank IMF the First Position

Article Category: Business

Author Name: xia zihui

In recent years, outside the World Bank and International Monetary Fund (IMF), the concern of governance reform, mainly in the shares and voting rights of the adjustments. But the reform should also focus on another, and this is the World Bank and the IMF's "top spot" - in the past 60 years, World Bank and the IMF has been the position of president of the monopoly of European and American, which has been with the times fit the trend is indeed to be reform.

In view of this, IMF's Strauss-Kahn said again recently, as the global economic situation changes, the Americans as the World Bank, IMF European leaders should end the tradition. According to him, the end of his term, President IMF and World Bank president Robert Zoellick farewell position, the two leaders of the international financial institutions, should be replaced by emerging economies and developing countries from the new person has.

I always suspected, it is merely wishful thinking or PR Kahn show. Why do you say, because Kahn is nothing but an agent of the West in the IMF, did not recommend his successor right, and no power of appointment. At least so far, the major developed countries in Europe and America do not have a position in favor of this proposal.

Kahn's idea actually look forward to a long-standing international public opinion have to be obtained. I remember in 2007 when he was World Bank's Wolfowitz had to resign because of personal scandal at the time when many Western media that the Americans now face disgrace, and brought the crisis to the World Bank should be Wolfowitz scandal as an opportunity to change when the Americans changed the practice of the World Bank.

But the media's call, always shake the boss's insistence, however. Government of the United States George W. Bush was still categorically that the position is none other than the non-Americans. U.S. Bank's right to vote more than 15%, has in fact the only veto. As boss of the United States made a case, the original is also quite whisper of Europe immediately expressed support, so the successor to World Bank president Robert Zoellick.

No I am not saying Zoellick capacity, compared with the previous 12 World Bank (Natural is American), Zoellick is most global strategic vision. Served as U.S. Deputy Secretary of State, he is a famous American, "responsible stakeholder" concept of the author; as World Bank president, he also vigorously promote the Bank's governance structure reform, the first time economists from developing countries invited to the World Bank as chief economist of the World Bank is currently appointed Senior Vice President and Chief Economist Justin Yifu Lin.

But the United States, "arranged" the World Bank office, the Europeans, "swept" the president of all the IMF position, from which point of view not in keeping with the spirit of democracy advocated by Europeans and Americans. Although U.S. and European economies account for a large proportion of the world economy, but not enough to summarize all of China, India, Brazil and many developing countries, economic power and influence are rapidly increasing. Whether from GDP, or from the geographic area or demographic factors, it will be the majority of emerging economies and developing countries excluded from the World Bank and the IMF than the highest level, are outdated.

Outdated, damaged the authority of the World Bank and IMF, reflecting the power of Western countries is of sadness, but the long run, it will endanger the Western countries in the global financial system status and influence - Imagine if the world Bank and IMF no credibility, how many countries will seriously control over the Western countries. This is why some Western countries to change their recently agreed to reform the World Bank and IMF, increase the share of emerging economies reason.

But specific to the two highest leadership body, the Western countries really generous giving way it? I really doubt it. Reform is an irresistible trend of the times, the Western countries at least on the surface will not "mantis trying to stop car", but "lip service to." Unless the Western countries are asking in emerging economies, or, when the top leaders of the World Bank and IMF to the new location to have a pretty good economy.

Say a few more, the top leaders of the World Bank and the IMF have come from emerging economies is the trend, the next fail, there will come next. And China as the largest emerging economies, elected their own representatives to sit on the two major international financial institutions, the head is also logical thing. This requires a rainy day in China to speed up their international reserves of talent and training.

About the Author: I am a editor, http://www.qualitydress.com provides electric shredder chipper,antique oak desk, welcome to visit!

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