A senior Chinese official said in Washington on Saturday that with
the pace of globalization accelerating, it is essential to
establish a new international economic and financial order that is
both fair and equitable.
Developing countries have not been able to participate fully in the
formulation of major international economic and financial
standards, said Dai Xianglong, governor of the
People's Bank of China, at the spring meeting of the
International Monetary and Financial Committee.
Dai said he hopes that the international community, when drawing up
standards, will pay attention to the varying situations and
specific needs of developing countries and let their voices be
heard in the process.
At
the same time, Dai reaffirmed China's position that the standards
should be implemented on a voluntary basis.
Dai expressed his support for the multi-polarization of the world
economy, saying it will help promote the harmonized and balanced
development of the global economy and the establishment of a new
international political and economic order that is fair and
rational.
He
urged the International Monetary
Fund (IMF) to attach greater importance to the reform of the
international monetary system and to pay more attention to the
unbalanced development of the world economy.
Dai also urged major developed countries to coordinate their
economic policies to ensure a steady recovery.
He
called on developed countries to speed up the transfer of funds and
technologies to developing countries, make their markets fully
accessible to developing countries and carry out the Monterrey
Consensus to increase official financial assistance to developing
countries.
IMF issued a communiqui after the spring meeting, urging the
advanced economies to take responsibility for promoting a strong
and sustained world economic recovery.
The International Monetary and Financial Committee of the IMF said
that while keeping inflation under control, monetary policies in
the advanced countries should remain broadly supportive of
growth.
(China
Daily April 22, 2002)