China urges EU to cede IMF power, S.Korea welcomes offer

China urges EU to cede IMF power, S.Korea welcomes offer
Brussels (AFP) Oct 4, 2010 - Chinese Premier Wen Jiabao urged Europe on Monday to cede more power to emerging markets in international financial institutions, as South Korea welcomed an EU offer to give up some IMF seats. Wen made his appeal in a speech at the opening of the Asia-Europe Meeting (ASEM) amid complaints by emerging economies that Europe is over-represented at the International Monetary Fund. "We need t ... morehttp://www.terradaily.com/reports/China_urges_EU_to_cede_IMF_power_SKorea_welcomes_offer_999.html

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