USA: China has significantly increased its influence in international organizations

China has significantly increased its influence in major international organizations, such as the World Bank, over the past decade, according to a Washington-based think tank, which believes the trend may need to be thoroughly examined.

Chinese companies are now winning the majority of contracts offered by development banks, while Beijing has increased its subscriptions to these institutions to $ 66 billion, according to a report by the Center for Global Development (CGD) released today.

China surpassed Japan and became the second country with the largest contribution after the United States, he clarified.

At the same time, the Asian giant is one of the main beneficiaries of the assistance of multilateral financial institutions such as the World Bank, according to the report, even if it has gained voting power and decision-making roles within these organizations.

“This is not necessarily a concern. The United States and other governments have pushed China to contribute more to the international system for decades,” wrote Scott Morris, a CGD researcher and author of the study.

“It is better for the whole world for China to work inside the system than outside it,” he added.

However, the report’s authors say it may be necessary to “take a closer look at some areas” and make “reasonable efforts to mitigate China’s dominance” to prevent the country from undermining its development goals.

This includes Beijing’s leading role as a lender to poor countries, many of which are facing over-indebtedness.

In addition, “Chinese companies have dominated commercial (multilateral development bank) contracts to the extent that they undermine the political support of these organizations in other countries,” the report said.

The researchers looked at rising donations, voting power and China’s presence in key positions in 76 major global organizations, including the International Monetary Fund, United Nations agencies such as the World Health Organization or the Gavi Vaccine Alliance.

The country’s voting power has increased, largely due to the rapid growth of its economy, but China has more than quadrupled its optional contributions to these organizations.

“China has clearly made the conscious choice to increase its power and influence in the international system,” said Sarah Rose, CGD’s mission director.

SOURCE: ΑΠΕ-ΜΠΕ