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China Central Bank Lays It Down: “New IMF Leadership Should Reflect New World Order”

Posted By admin On May 19, 2011 @ 6:55 am In Money Watch | Comments Disabled

Tyler Durden
Zero Hedge [1]
May 19, 2011

There’s a funny thing about the New World Order: it eventually gets too big and bites the hand the feeds it. Enter the PBoC: “The new IMF leadership needs to reflect changes in the world economic order and be more representative of emerging market economies, Chinese central bank governor Zhou Xiaochuan said Thursday in his first public comments since the arrest of Dominique Strauss-Kahn. “The senior management team of the IMF should better reflect changes in world economic patterns and should be more representative of emerging market economies.” Translation – no more European of American cronies. It is also probably safe to say that Lagarde’s odds of pulling the white smoke out of the conclave bag have just plunged. It is also safe to say that with China now unofficially Europe’s backstopper (and there were those wondering why China is buying all those Spanish and Portuguese bonds), what China wants, China gets.

From Market News [2]:

Zhou also said he regretted Strauss-Kahn’s decision to resign as the Managing Director of IMF.

“The current world economy is recovering slowly from the financial crisis and the European sovereign debt crisis is at a key stage. A powerful IMF support is needed to overcome current difficulties facing Europe and ensure world economic developments are on a robust, sustainable and balanced track,” Zhou added.

German Chancellor Angela Merkel reiterated earlier today that the next head of the International Monetary Fund should be a European again.

And so the stage is set for the next big geopolitical theater: Germany vs China over the largely symbolic issue of who gets to scare the Sofitel maids next.

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China Central Bank Lays It Down: New IMF Leadership Should Reflect New World Order  161008pptv3 [4]


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URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/article/china-central-bank-lays-it-down-new-imf-leadership-should-reflect-new-world-order

[2] Market News: http://imarketnews.com/node/31042

[3] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[4] Image: http://prisonplanet.tv/

[5] China’s Central Bank Chief Rumored To Have Defected: http://www.prisonplanet.com/china%e2%80%99s-central-bank-chief-rumored-to-have-defected.html

[6] China could overtake US economy by 2030: World Bank: http://www.prisonplanet.com/china-could-overtake-us-economy-by-2030-world-bank.html

[7] Global Elite Cite China As Model For Economic New World Order: http://www.prisonplanet.com/davos-elites-see-global-economic-shift-east-south.html

[8] World’s Most Prestigious Financial Agency – Called the “Central Banks’ Central Bank” – Warns of Bursting Bubble: http://www.prisonplanet.com/world%e2%80%99s-most-prestigious-financial-agency-%e2%80%93-called-the-%e2%80%9ccentral-banks%e2%80%99-central-bank%e2%80%9d-%e2%80%93-warns-of-bursting-bubble.html

[9] China Central Bank Advisor Urges Increase In Official Gold And Silver Reserves: http://www.prisonplanet.com/china-central-bank-advisor-urges-increase-in-official-gold-and-silver-reserves.html

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