"China warns west against rapid interest rate rise
Xi Jinping says major economies need to be wary of ‘negative spillovers’ hitting global recovery
China has warned the US and Europe against a rapid rise in interest rates that would “slam on the brakes” of the global recovery from the pandemic.
Central banks should maintain the monetary stimulus or risk “serious economic consequences” from the spillover effects with developing markets bearing the brunt.
In a virtual speech to open the World Economic Forum’s Davos Agenda, the Chinese president, Xi Jinping, said that while global inflation risks were emerging, policymakers should strengthen economic policy coordination and develop policies to prevent the world economy from dipping again.
“We must do everything necessary to clear the shadow of the pandemic and boost economic and social recovery and development,” he said.
“If major economies slam on the brakes or make major U-turns in their monetary policies there will be serious negative spillovers. They would present challenges to global and economic financial stability and developing countries would bear the brunt.”"
https://www.theguardian.com/business...rest-rate-rise
Just the excuse Bank of England needed, all hail Xi*!
* under the pai of slow death
Xi Jinping says major economies need to be wary of ‘negative spillovers’ hitting global recovery
China has warned the US and Europe against a rapid rise in interest rates that would “slam on the brakes” of the global recovery from the pandemic.
Central banks should maintain the monetary stimulus or risk “serious economic consequences” from the spillover effects with developing markets bearing the brunt.
In a virtual speech to open the World Economic Forum’s Davos Agenda, the Chinese president, Xi Jinping, said that while global inflation risks were emerging, policymakers should strengthen economic policy coordination and develop policies to prevent the world economy from dipping again.
“We must do everything necessary to clear the shadow of the pandemic and boost economic and social recovery and development,” he said.
“If major economies slam on the brakes or make major U-turns in their monetary policies there will be serious negative spillovers. They would present challenges to global and economic financial stability and developing countries would bear the brunt.”"
https://www.theguardian.com/business...rest-rate-rise
Just the excuse Bank of England needed, all hail Xi*!
* under the pai of slow death
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