China has urged the U.S. and other developed nations to assess the spillover effects of their economic and financial policies. “The economic and financial policies of the U.S. pose the biggest challenge to global financial stability,” according to the Chinese Ministry of Foreign Affairs.
China Cautions About U.S. Economic and Financial Policies
Wang Wenbin, a spokesperson for China’s Ministry of Foreign Affairs, expressed concerns over the state of the global economy at a press conference Thursday.
Commenting on the recent International Monetary Fund (IMF) Global Financial Stability report pointing out that the turmoil in the U.S. banking sector has increased the risk of global financial stability, the Chinese official said: “Global financial stability bears on the recovery and development of the world economy and the common interests of all countries, and requires the world’s common efforts.”
Emphasizing that “The notable global financial risks have much to do with the a
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