Being the world's second-largest economy and the largest trading nation, the country clearly deserves a place at the head table of the global financial system but a range of concerns, spanning China's foreign policy to its stumbling economy, have many worried about the country.
Strategists often cite initiatives such as the Asian Infrastructure Investment Bank (AIIB), seen as a counter to Western-oriented lenders such as the World Bank, and the One Belt One Road (OBOR), a program that aims to promote Chinese trade across three continents, as common examples of Chinese self-interest. They argue that these programs serve as mouthpieces for Chinese policy in a way that conflict with cooperative global institutions such as the G-20.
But IIF chief economist Charles Collyns pointed to the IMF's decision to include the renminbi in its Special Drawing Rights (SDRs) as proof that China wanted to be a team player.
"My sense is that these steps have helped to cement China's commitment to be a constructive player on the international economic stage, rather than drifting into unilateralism," he told CNBC in an e-mail. "A good demonstration of this commitment has been China's recent efforts to ensure that its currency is managed in a stable way that does not threaten to be disruptive to global financial conditions."
China had its own set of priorities as well as its shared commitment to a global system, but it could manage these priorities in ways that reinforced rather than conflicted with the multilateral system, Collyns added.