Japan’s earthquake and tsunami, the European debt crisis and turmoil in the Middle East are adding uncertainty to the global economic recovery, China’s Vice Premier Wang Qishan said at a Group of 20 Nations seminar today.
Excessive global liquidity and volatile commodity markets are also clouding the outlook, Wang said at the beginning of the day-long conference in the southern Chinese city of Nanjing where leaders including French President Nicolas Sarkozy and U.S. Treasury Secretary Timothy F. Geithner are debating how to reform the international monetary system.
An overhaul of the system “will help promote the sound development of global trade and orderly capital flows, and prevent drastic fluctuations in exchange rates and commodity prices,” Wang said.
Source: www.bloomberg.com
Excessive global liquidity and volatile commodity markets are also clouding the outlook, Wang said at the beginning of the day-long conference in the southern Chinese city of Nanjing where leaders including French President Nicolas Sarkozy and U.S. Treasury Secretary Timothy F. Geithner are debating how to reform the international monetary system.
An overhaul of the system “will help promote the sound development of global trade and orderly capital flows, and prevent drastic fluctuations in exchange rates and commodity prices,” Wang said.
Source: www.bloomberg.com
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