WASHINGTON - It is important for China to play a big role in the international community and contribute to the improvement of global governance, said Zhu Min, former deputy managing director of the International Monetary Fund (IMF) here Friday.
Zhu made the remarks during an event at the Johns Hopkins University School of Advanced International Studies.
He said it is also important for China and the United States to cooperate on improving global governance.
Zhu, now chair of the National Institute of Financial Research at Tsinghua University in Beijing, said there is still room for improving global governance 10 years after the global financial crisis.
Over the past decade, the debt-to-GDP ratio has not decreased but increased substantially, “which to me (indicates) the potential risks are high,” he said.
Meanwhile, interconnectivity across the world is strengthening, Zhu said, cautioning that when a crisis happens, the spillover effect could cause more severe damage. The policy space for decision-makers to maneuver today is also more limited than it was before, he said. (Xinhua)