Can China crack US hold on IMF?

Can China crack US hold on IMF?

By Satur C. Ocampo

This week in Cannes, France, the Group of 20 biggest economies or G-20 – representing 85 percent of the world’s economy, 80 percent of trade, and two-thirds of population — holds its sixth summit meeting since 2008 to deal with the global financial-economic crisis.

The focus is on China’s response to the European Union’s appeal for funding support to contain the sovereign-debt turmoil that has hit Greece gravely, threatens to spread into Italy and Spain, and rattles the euro-zone monetary system.

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