China’s Current Challenge of the Bretton Woods Institutions Has Been Years in the Making

China’s dispute with the Bretton Woods institutions dates back to at least the Obama era. The U.S. Congress refused to ratify a 2010 plan to recapitalize the IMF, which would have given large emerging economies enhanced voting rights because it could have affected the U.S.’s veto vote.

The measure, which also included Brazil, Russia and India in the top ten, was finally passed in 2016, but subsequent reform attempts faced similar pressure from the United States.

• Get a daily email packed with the latest China-Africa news and analysis.
• Read exclusive insights on the key trends shaping China-Africa relations.
• Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More

source https://chinaglobalsouth.com/2023/02/14/chinas-current-challenge-of-the-bretton-woods-institutions-has-been-years-in-the-making/