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.”
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