Economic Clout Rising, China Takes No. 3 Seat on World Bank
Ford, Peter, The Christian Science Monitor
The World Bank agreed Sunday to boost China's voting share to 4.42 percent, giving it the third biggest say after the United States and Japan.
China has earned a new degree of recognition for its growing influence on the global economy, after members of the World Bank decided Sunday to increase Beijing's voting power behind only the United States and Japan in the international lending body.
The boost underscored a broader decision at the bank's meeting to raise the share of votes held by developing countries to just over 47 percent, as part of ongoing reforms to give poorer countries a greater say in setting World Bank lending policy.
"It will enhance the …
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information: Article title: Economic Clout Rising, China Takes No. 3 Seat on World Bank. Contributors: Ford, Peter - Author. Newspaper title: The Christian Science Monitor. Publication date: April 26, 2010. Page number: Not available. © 2009 The Christian Science Publishing Society. Provided by ProQuest LLC. All Rights Reserved.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.