Members of the World Bank agreed on Sunday to support a $5.1 billion increase in its operating capital, the largest increase in general financing since 1988, and to give developing economies a greater say in running the antipoverty institution.
Not surprisingly, China is the big winner here. Their voting share goes from 2.77 to 4.42, making them the third biggest vote, behind the US and Japan and ahead of Germany. India and Brazil also gained noticeably in votes. Voting power in general moved from small old countries to the new big economies.
Jay