At the 2025 Lujiazui Forum opening ceremony in Shanghai, Pan Gongsheng, governor of the People's Bank of China, spotlighted a growing dilemma in global finance: emerging markets and developing countries hold far fewer shares and voting rights in major international financial institutions than their economic clout warrants.
"Their actual economic weight in the global economy is not reflected in decision-making tables," Pan explained, calling on major IFIs to strengthen economic oversight, objectively assess global risks and guide nations toward robust support for economic globalization and the multilateral trading system.
Emerging markets now drive much of the world's growth and innovation—from tech startups in Southeast Asia to sustainable energy projects in Africa—but their influence in bodies like the World Bank and the International Monetary Fund lags behind. This imbalance can limit the global response to financial shocks, trade tensions and cross-border challenges in sustainability.
By boosting the oversight function of these institutions, Pan argues, countries can unlock more balanced risk assessments and policy guidance, ensuring that all voices—especially those fueling today’s growth engines—shape a stable international financial system.
For young global citizens and entrepreneurs, stronger oversight means clearer risk warnings and smarter capital flows, fueling innovation and inclusive growth. For thought leaders and changemakers, it’s a chance to cement sustainability and human rights in global finance. And for digital nomads and travelers, it paves the way for resilient markets that welcome cross-border collaboration.
As the forum continues, the question remains: will major IFIs recalibrate governance structures to reflect a shifting economic landscape? The answer will shape the future of global finance—and the world it serves.
Reference(s):
Financial institutions should strengthen economic oversight: PBOC
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