Chinese Perspective Imf Reform

This paper tries to discuss the necessary of the IMF reform under the new economic situation, as well as the key points and difficulties of the reform. The paper also probe into the problems of China's position, suggestions and strategies in the course of the reform. Under the circumstances of the IMF reform, China should seize the opportunity to improve the international image of China, and finally achieve the goal of China's rising.The IMF, which was bora in Bretton Woods conference, was setup to monitor the fixed exchange rate of the international monetary system, and safeguard the stability of the international financial system. After Bretton Woods system collapsed, Jamaica system replaced it. The function of the IMF transformed to oversees the economic situation and supply financial aids to its member countries, especially supplies financial aids and policy proposals in financial crises. The main frameworks of the IMF include the Council, the Executive Board, Interim committee, Development Committee, and the President. The performing of the IMF's function is relying on the integrity of the IMF's frameworks as well as its good operating mechanisms.As the international economical structure developing, the environments of the IMF have been greatly changed; The IMF must be reformed in order to avoid its fate of marginalization. The key points of the IMF reform include power inadequacy, the status of developing countries don't conform to its economical strengths, the policy suggestions not reasonable, and can't guard against financial risks effectively. But the reform of the IMF can't be carried out smoothly. The reform faced four major problems, which are the international organization essence of the IMF, the controversies between developed countries and developing countries, and the disputes among developed countries. The controversies between developed countries and developing countries are the most difficult problem that the IMF reform confronted.As the biggest developing country in the world, China boasts the special status in the international community. China should play more important role in the IMF reform, put forward its own suggestions, and mediate between developed countries and developing countries, narrow the gap between the two groups, and promote the development of the IMF reform. Seizing the opportunity, China can improve its status in the international community, raise its saying rights, which is also conform to China's national interests.