Tuesday, Jul 29, 2014Tuesday, Jul 29, 2014
News
 

Analysts see China's IMF snub as 'a sign of things to come'

Published on Oct 14, 2012 1:17 PM
 

TOKYO - China's top level boycott of global financial meetings in Japan this week is a sign of things to come, analysts say, as an economically emboldened Beijing shows struggling Western nations it does not need to play by their rules.

With global growth slowing, many in the developed world are looking to Beijing to pick up the slack, and the annual meetings of the International Monetary Fund and World Bank seemed a good place to press the point.

But while Tokyo was graced with global financial luminaries such as Timothy Geithner from the US and Wolfgang Schaeuble from Germany, China's finance minister and central bank chief both stayed at home.

Beijing gave no official reason for sending their deputies, with foreign minister Yang Jiechi telling reporters in Beijing only that "the arrangement of the delegation for the meeting was completely appropriate".

 
If you are not a subscriber, you can get instant, unlimited access here