CHENGDU, China |
CHENGDU, China (Reuters) – Chinese Vice-Premier Wang Qishan warned on Monday the global economy is in a grim state and that an “unbalanced recovery” might be the best option, at talks where senior U.S. officials said the mood at home toward China was souring.
The remark marked Wang’s second dire comment on the world economy in just a few days. On Saturday, he said a “chronic” global recession was “certain” and China must focus on its domestic problems.
Policymakers globally have expressed increasing alarm at the risks facing the world economy, mainly stemming from financial contagion in Europe. On Monday, Singapore and Thailand forecast their economies would shrink in the fourth quarter and Japan posted a much bigger fall in October exports than expected.
“Global economic conditions remain grim, and ensuring economic recovery is the overriding priority,” said Wang, the top official steering China’s financial and trade policy, at the start of the second day of talks.
Wang, speaking at the annual U.S.-China Joint
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