Beijing-Based IMF? Lagarde Ponders China Gaining on U.S. Economy

Interesting appraisal but way off the mark as reality. It pre supposes the IMF, a US Clone vehicle, will still have an operating role in future. The IMF has failed the nations and it's a US mouthpiece. 

With the emergence of BRICS, the Yuan and both Chinese / Russian Gold backed currencies to come, why will the Eurasian zone need or tolerate a failed US Hegemony ploy and be lectured to by a failing Empire? 

Lagarde is quietly seeking the EU Presidency role, because she sees the IMF role as that of a naked Emperor and she is too smart to stay aboard a sinking ship. Leaders ganging up on and ignoring Putin in France were petulant children whose nations will feel Russia's anger in time. Our collective Leaders are truly an abysmal bunch nowadays.

Christine Lagarde, managing director of the International Monetary Fund, speaks during a news conference at the U.K. Treasury in London on June 6, 2014.   Photographer: Chris Ratcliffe/Bloomberg

By Sandrine Rastello
6 June 2014

The International Monetary Fund’s headquarters may one day shift to Beijing from Washington, aligning with China’s growing influence in the world economy, the fund’s managing director said.

Christine Lagarde, speaking late today in London, said IMF rules require the main office be located in the country that is the biggest shareholder, which the U.S. has been since the fund was formed 70 years ago.

The IMF founding members “decided that the institution would be headquartered in the country which had the biggest share of the quota, which chipped in the biggest amount and contributed most. And that is still today the United States,” she said in response to questions at the London School of Economics.

“But the way things are going, I wouldn’t be surprised if one of these days the IMF was headquartered in Beijing for instance,” she said. “It would be the articles of the IMF that would dictate it.”

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