Zhu Min Today Officially Became Vice President &Nbsp Of IMF; China'S Voice Will Be Promoted.

Zhu Min

Perhaps Yifu Lin is more representative of "Chinese folk".

French finance minister Lagarde officially served as the president of IMF on the second day, she told a news conference that the global economy has rebounded from the financial crisis from 2007 to 2009, but this rebound is not balanced, such as China and India and other old industrial countries have grown into key emerging markets.

She said that the international institutions such as IMF should better reflect the pfer of the global economic rights, and the assumption that IMF would set more high-level positions for emerging market countries would not be a bad idea. "The world situation is changing, and the change of the world structure should also be reflected in the management structure and employee structure of IM F".

The proposal, Zhu Min as vice president of IMF, meets Lagarde's previous commitment to increase the weight of emerging market countries in the IMF decision-making level.

Emerging countries are more valued than before, but they are not yet able to talk about big reforms.

In announcing Zhu Min's nomination, Lagarde said: "Zhu Min has rich lessons in government, domestic policy formulation and financial markets, brilliant governance and communication skills, and right.

In July 12th, he also nominated American David Lipton as the first vice president of IMF to replace John Lipsky, who will retire in August 31st this year.

Lipton is currently a special assistant to the president of the United States, the national economic advisers Committee and the National Security Council, and is responsible for senior officials in international economic affairs.

IMF two other vice presidents, one is Makotoshinohara Hisano from Japan, and the other is Bnnie Matt Shafiq, who owns three nationalities in the United States, Britain and Egypt.

As of June this year, IMF has 187 member states.

In November 5th last year, the Executive Board of IMF passed the share reform plan. China's share increased from 3.72% to 6.39%, and the voting power increased from 3.65% to 6.07%. It surpassed Germany, France and Britain, ranking the United States and Japan.

Whether Zhu Min's appointment represents a change in the international financial situation, Zhou Shijian, senior researcher of the Sino US relations research center of Tsinghua University, said in accepting the China Financial Network Channel: "it will not be so obvious."

Zhou Shijian said, "first of all, voting rights and influence rights in IMF are related to the contribution of various countries to the overall GDP of the world. So far, the three largest economies in the United States, Europe and Japan account for the major share. Second, the bills are not entirely decided by the 5 vice presidents, and there are 24 executive board members representing 187 member states."

He Maochun, director of the center for Economic Diplomacy Research of Tsinghua University, held the same view in the interview with the global times in July 13th. Zhu Min's appointment has some positive significance, but it is far from the preview of the change of the world economic system. "It's only a small improvement. It's far from a big reform. The disputes between the developing countries and the developed countries in the rules and regulations on international organizations are still very long, and we must be patient."

Zhu Min's accession to power will be related to China's financial strength, and China's voice will be enhanced.

Zhu Min was appointed.

The choice of Zhu Min is directly related to his outstanding individual ability, and is also a decision made through democratic consultation on the basis of the principles of openness, pparency and merit.

Zhu Min has both the government, the market and the academic background.

"But at the same time, China's increasing influence in the world financial field is the reason why IMF chose Zhu Min as the fifth vice president."

Zhou Shijian, senior researcher at the Sino US relations research center of Tsinghua University, said in an interview with China financial network.

Zhou Shijian said, "the International Monetary Fund is an international organization, and Zhu Min's appointment represents only the improvement of China's discourse power in the organization and the discourse power of emerging economies."

Nanfang Daily reported on July 22nd that Liu Yuanchun, vice president of the school of economics, Renmin University of China, said in an interview that IMF needs to join the market share of emerging economies and enhance their national status and voting rights.

The biggest reason why Zhu Min took office was China's strength.

A recent report by the Wall Street journal also pointed out that Prasad, an economist at Cornell University and a former IMF official, said that the appointment of David Lipton and Zhu Min to the Americans after the appointment of Lagarde was a return to the United States and China, which supported her position as president.

He said that the promotion of Zhu Min reflects the importance of China in the IMF power structure.

When asked about what new role China hopes to play in the IMF forum in 2009, Zhu Min thought it was obvious that Asian countries would have greater voice and stronger power in Davos.

However, he also stressed that even if the voting weights of emerging economies increased, IMF was dominated by the United States and European countries, and more important than the governance structure was to involve everyone in the dialogue and decision-making process.

As a high-level leader who can play a crucial role in IMF and a representative of China's emerging market interests, how Zhu Min helped IMF play a fair and fair role in a series of related issues such as the RMB exchange rate, people are also looking forward to it.