<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>China’s re-entry into the World Bank (WB) in 1980 was a joint endeavor by WB and Chinese reform-minded leaders. This article gives a chronicle of major events which paved the way for the People’s Republic of China to take over China’s seat in the WB. It describes in some detail the role played by Robert McNamara, Shahid Husain, Edwin Lim and Javed Burki on the WB’s side, and Deng Xiaoping, Gu Mu and the Bank of China on the Chinese side in engineering Beijing’s re-entry and in establishing a relationship with the WB based on mutual trust. It uncovers how the issue of Taiwan’s debt to the WB at the time, a potentially serious obstacle to the PRC’s WB membership, was successfully resolved. The article ends with reflections on China’s engagement with the Bretton Woods System.</p>
</abstract>

China’s re-entry into the World Bank (WB) in 1980 was a joint endeavor by WB and Chinese reform-minded leaders. This article gives a chronicle of major events which paved the way for the People’s Republic of China to take over China’s seat in the WB. It describes in some detail the role played by Robert McNamara, Shahid Husain, Edwin Lim and Javed Burki on the WB’s side, and Deng Xiaoping, Gu Mu and the Bank of China on the Chinese side in engineering Beijing’s re-entry and in establishing a relationship with the WB based on mutual trust. It uncovers how the issue of Taiwan’s debt to the WB at the time, a potentially serious obstacle to the PRC’s WB membership, was successfully resolved. The article ends with reflections on China’s engagement with the Bretton Woods System.

Why and How the People’s Republic of China Entered the World Bank in 1980 and Afterthoughts

Economic Diplomacy

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

China’s re-entry into the World Bank (WB) in 1980 was a joint endeavor by WB and Chinese reform-minded leaders. This article gives a chronicle of major events...

Why and How the People’s Republic of China Entered the World Bank in 1980 and Afterthoughts

Published Online: Jan 08, 2024

Page range: 1 - 11

Received: Aug 13, 2023

Accepted: Sep 27, 2023

DOI: https://doi.org/10.2478/ecdip-2023-0007

Keywords
Bretton Woods System, World Bank, Taiwan, McNamara, Shahid Husain, Edwin Lim, Deng Xiaoping, Gu Mu

© 2023 Pieter Bottelier et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Why and How the People’s Republic of China Entered the World Bank in 1980 and Afterthoughts

Published Online: Jan 08, 2024

Page range: 1 - 11

Received: Aug 13, 2023

Accepted: Sep 27, 2023

DOI: https://doi.org/10.2478/ecdip-2023-0007

KeywordsBretton Woods System, World Bank, Taiwan, McNamara, Shahid Husain, Edwin Lim, Deng Xiaoping, Gu Mu

© 2023 Pieter Bottelier et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Keywords
Bretton Woods System, World Bank, Taiwan, McNamara, Shahid Husain, Edwin Lim, Deng Xiaoping, Gu Mu