BEIJING -- The Obama administration clearly understands the urgency for the U.S. to be more active in creating, shaping and reforming the international system and international mechanisms. But a strong domestic consensus in still not in place, and because of obstacles in its political system, America just cannot act in an efficient way.
In essence, the reforms have been crafted to democratize the IMF governance. Now, those sitting at the head of the IMF's table are either American allies, or its Western partners, whereas the developing countries are underrepresented as a whole. They do not have a say in the IMF decision-making process, or in protection of their fundamental interests.