IMF names Zhu Min as adviser, showing China’s clout

The International Monetary Fund named Zhu Min, deputy governor of the People’s Bank of China, as a special adviser, reflecting the growing influence of the world’s fastest-growing major economy. The appointment shows emerging nations taking a bigger role in a changing “global economic order,” China’s central bank said in a statement today. The IMF yesterday named Zhu as an adviser to Managing Director Dominique Strauss-Kahn. Zhu assumes the role May 3, the IMF said. The appointment is four months after he left a group executive vice president’s job at Bank of China Ltd to join the central bank. At the World Economic Forum in Davos, Switzerland, last month, Zhu defended his country’s “stable” yuan policy and warned that dollar volatility is threatening a global economic recovery.