SHANGHAI, China (AP) – Prime Minister of China tried to calm the anxiety caused by the slowdown of its economy at a meeting of senior financial positions convened by governments of the G-20 to speed generating reforms jobs and stimulate and weak growth.
for a video message delivered at a meeting of finance ministers and central bankers of the group of 20 major economies on Friday, Prime Minister Li Keqiang said that Beijing has tools and resources to combat downward pressure on growth.
Also Friday, the managing director of the International Monetary Fund, Christine Lagarde, called for faster action on promised reforms at a meeting of G-20 in 2014. The German finance minister, meanwhile, ruled out participating in a new joint effort of stimuli and the governor of China’s central bank tried to calm fears that Beijing devalue the yuan to boost exports.
with a growing anxiety about the global slowdown, companies and investors They hope this meeting will shed reinforcements and concrete actions. But leaders have tried to quell expectations on the development of specific growth plans. The United States Secretary of the Treasury, Jacob Lew, warned against expecting a “crisis response to an environment of non-crisis.”
The Chinese are hosting a two-day summit in Shanghai to promote his campaign to have a greater voice in the management of trade and global finance. But instead, the communist government struggles to defend his reputation after the ups and downs of the stock market and currency.
“China’s economy has great potential, strength and flexibility, and we will take advantage of those strengths, “Li said.
the growth of the Chinese economy slowed last year to 7.3%, its lowest in 25 years and the trade contracted. <- End of HotWords -> further slowdown in growth is expected for this exercise
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