Russia and China warned on Thursday that the end of the U.S. Federal Reserve’s bond-buying program could have a profound impact on the global economy and urged caution.
Speaking ahead of the start of the Group of 20 summit, when economic issues and Syria will top the agenda, host Russia and China, the world’s second largest economy, made clear their concerns about the widely expected ‘tapering’ of the Fed’s multi-billion dollar monetary stimulus policy.
Zhu Guangyao, China’s deputy finance minister, urged the United States to be “mindful of the spillover effects and work to contribute to the stability of the global financial markets and the steady recovery of the global economy.”
via Reuters
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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