In the biggest shake-up since the IMF and the World Bank were set up to manage the post-World War II economy, the US Senate voted on December 29, 2015, to increase China’s voting rights in the International Monetary Fund by nearly 60%. The US Senate adopted reforms to give emerging economies a greater say in how the international lender is managed. China’s voting rights jumped to 6% from 3.8% and IMF resources will double to about $660 billion. Meanwhile, the US will see its share drop from 16.7% to 16.5%, but it retains its veto power. India’s voting rights will rise to 2.6% from the current 2.3%.