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China gives no sign of bailout help after summit
Published on: 2008-11-17
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China got what it wanted in Washington's financial summit — a promise of a bigger role for developing countries in global finance — but gave no sign on Sunday whether it will respond by using any of its 1.9 trillion USD in reserves in a bailout fund. China has been pushing for developing countries generally — and itself specifically — to have more influence at the International Monetary Fund and other global bodies. Analysts say that might be Beijing's price to give in to foreign appeals to dip into its reserves and contribute money toward an IMF emergency loan fund for struggling countries.
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