A Huanqiu opinion piece suggested that ex-chief of IMF Strauss-Kahn’s replacement should come from China as its voting power in the IMF is increasing rapidly. “China’s position in the IMF surpasses European countries, having risen to 6.394 percent; it ranks third, only narrowly behind Japan by 0.07 percent. … The increase in China’s position means China can have a greater voice in policy suggestions, and will have more rights and responsibilities to send senior officers to the IMF. … Recently, many people have criticized the IMF for being too slow to react to the financial crisis and the near collapse of the banking system, and for paying too little attention to the financial development of developing countries. Adding more Chinese elements to the senior positions will be an excellent complement to the IMF’s insufficiencies.” The article concluded that “China does not lack capable personnel for the next IMF chief position. If the current 24 voting executive members understand this and send a Chinese to head the agency, it will show tremendous respect for the rising China.”
Source: Huanqiu, May 18, 2011
http://opinion.huanqiu.com/roll/2011-05/1699867.html