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by 1 January 1973 (when we enter the EEC). But this
is not a firm commitment on our part, nor have we
said anything about the rate at which we shall fix).
(ii) CHINESE REPRESENTATION IN THE IMF AND IBRD
Contrary to expectations, the question of
Chinese representation was not raised at this
September's annual meetings of the International
Monetary Fund and World Bank (IBRD), either by
the Chinese Government or by other governments
sympathetic to China. We cannot, however, exclude
move within the next year to unseat Taiwan and to
but mainland China into the IMP's and IBRD's China
se
etas. Should this happen, there will be some
rickey questions to resolve, such as Taiwan's
Pinancial links with the two institutions.
Membership of the IMF carries with it obligations
which the Chinese may not be able or willing to
lischarge. For that reason it seems unlikely on
balance that the Chinese have yet decided to go for
embership. The subject is best avoided.
Defensive points
There are a number of complex problems arising
out of Taiwan's present membership of the IMF and IBRD
hich we imagine that other member governments
ill wish to consider carefully. (If pressed). We
re not opposed to China taking up its seat in the
und and Bank, provided always that it abides fully
y the rules of these two bodies.
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NOTHING TO BE WRITTEN IN THIS MARGIN