China: Growing economic power - Budget & Economic Survey
Q. Which country has been showing following trends
1) It has become one of the lenders of last resort to governments experiencing financial troubles.
2) It has also become one of the bigger providers of development assistance both bilaterally and plurilaterally.
3) It is assuming the roles of both an International Monetary Fund and a World Bank as a result of its foreign reserves.- Published on 06 Aug 15a. USA
b. China
c. UK
d. India
ANSWER: China
China’s abundant foreign reserves have highlighted this fact. Reserves provide a cushion against shocks, creating economic and financial resilience. But they also create geo-political influence. China, in its own heterodox and multiple ways, is assuming the roles of both an International Monetary Fund and a World Bank as a result of its foreign reserves.
