ABSTRACT

This chapter focuses on China's participation in the multilateral economic institutions; on the nature and consequences of those relationships for China's economic policies, institutions, and performance; and on a number of current issues and implications for both China and the world community. China's working relationship with the United Nations Development Program (UNDP) began soon after the adoption of the Four Modernizations program in late 1978, when China unexpectedly requested economic aid. China's relationship with the UNDP led to significant interaction between the UNDP country office in Beijing and all levels of China's bureaucracy, especially in the area of economic planning. International Monetary Fund membership has been eminently beneficial to China in implementing its modernization program. The International Monetary Fund also operates a training facility for the instruction of fiscal, monetary budgetary legal, and foreign exchange affairs personnel from developing countries.