IMF could be based in China

Almaty. July 26. Silkroadnews – The IMF could be based in China, the Ukrainian news portal Telegraf reports with reference to Reuters.
“The International Monetary Fund could be based in Beijing in a decade if growth trends for China and other big emerging markets continue and these are reflected in the Fund's voting structure, IMF Managing Director Christine Lagarde said”, publication says on Wednesday.
At the same time, according to C. Lagarde, it is noted, such a step is a “possibility”, as the Fund will need to increase its representation in the major emerging markets against the background of such countries’ growing importance and influence.
She also added, this could mean that such a conversation can be resumed in 10 years, when the fund may no longer be located in Washington, D.C. “We will do it in our Beijing head office”, C. Lagarde said.
According to her, the IMF bylaws call for the head office of the institution to be located in the largest member economy.
The economists project China’s economy to become the world’s largest in nominal terms over the next decade, with growth rate forecast above 6% to overtake the US GDP.