World Bank members voted to place China’s voting power in the organization behind the United States and Japan. The China’s stake in the bank climbed from 2.8% to 4.4 %. Given that China has made many achievements in eradicating poverty, we have reasons to believe the country will contribute more to global efforts on poverty reduction. (A resounding vote, China Daily, 04-27-10)
The World Bank’s private sector arm has signed its first deal to finance Chinese investment in Africa. (China Shifts Its Africa Investment Strategy, Forbes, 4/28/10) Will working more with international bodies, such as the World Bank improve China’s corporate governance, human rights and environmental standards?