Risks of global economic downturn increasing: Chinese official

Note: They see the signs. They know the time. They understand that the Western financial and monetary systems are corrupt, over extended, and over burdened by debt and there will be no more reprieves for them. He essentially lays the blame right where it should be….on the doorstep of the so-called developed(Western) nations!

Risks of global economic downturn increasing: Chinese official

China’s vice finance minister Zhu Guangyao speaks during an interview in Berlin, capital of Germany, on Dec. 2, 2016. World economy is recovering, but the process is slow and unbalanced, China’s vice finance minister Zhu Guangyao said here Friday. (Xinhua/Shan Yuqi)

 (Xinhua) — World economy is recovering, but the process is slow and unbalanced, China’s vice finance minister Zhu Guangyao said here Friday.

“The risks of economic downturn and uncertainties are increasing,” Zhu said on the sidelines of a G20 finance and central bank deputies meeting.

Monetary policy divergence among developed economies, negative growth of some major emerging economies, decline of world trade, and major geopolitical events have contributed to the slow and unbalanced recovery, according to the Chinese official.

“China is reforming its economic structure steadily and we have the confidence to maintain its stable and healthy development,” Zhu said.

Germany takes over the presidency of the G20 leading economies from China on Thursday. Finance ministers and central bank governors from the G20 economies will gather twice before next year’s G20 summit in Germany’s Hamburg.

Xinhua

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