China’s Multilateral Financial Mobilization
China's impending membership in the European Bank for Reconstruction and Development is only one instance of the country's rapidly growing role in the major international financial institutions. The question now is whether China will spur change within these institutions, or vice versa.
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LONDON – The board of the European Bank for Reconstruction and Development recently approved China’s application to join – an application a decade in the making – and sent it on to member governments for final approval. But EBRD membership is only one expression of China’s rapidly growing role in the world’s international financial institutions. The question now is whether China will spur change within them, or vice versa.