October 20, 2020Is the relocation of the International Monetary Fund's headquarters from Washington to China imminent?
If the founding rules of the IMF, which say that the fund must shift its base to the world's largest economy, is still applicable, such a scenario cannot be ruled out, say analysts, including Dr Shashi Tharoor, India's Congress Party leader and Member of Parliament...
"The International Monetary Fund's by-laws specify that its headquarters will be located in the world's largest economy. For 75 years this placed it in Washington, DC...
According to Investopedia's estimate for 2019, while in nominal GDP, the US at $21.44 trillion is still ahead of China at $14.14 trillion, the Asian superpower is way ahead in GDP based on purchasing power parity at $27.31 trillion versus that of the US at$21.44 trillion.
Some reports even say China may already have overtaken the US as the world's largest economy.