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NUSA DUA, Indonesia: Global economic turmoil could persist for "a long time to come", Chinese Premier Wen Jiabao warned on Friday, saying that recovery in some developed nations lacked momentum.
China has become a key driver of the global economy in recent years and has been courted by top European officials looking to bolster a fund set up to support troubled economies.
Beijing has the world's largest foreign exchange reserves at $3.2 trillion, but has so far made no firm commitment to provide financial assistance for the eurozone.
"The global economy may experience uncertainty and instability for a long time to come," Wen said at an Association of Southeast Asian Nations (ASEAN) summit on the Indonesian island of Bali.
"The world is undergoing profound and complex changes. The international financial crisis has entered its fourth year, and the current global economic and financial scene still gives no reason for optimism," he said.
"Economic recovery in some developed countries lacks momentum, and those countries are plagued by serious financial and debt crises," Wen added in a reference to the eurozone.
But he said that despite relatively strong growth, the developing world still had to address fundamental problems.
"Emerging and developing countries are ascending on the world stage, but taken as a whole, they are still not strong enough," he said.
"Social turbulence has erupted in west Asia and north Africa. Global food, energy and environmental challenges pose a growing threat to the sustainable development of mankind."
China is ASEAN's biggest trading partner, with two-way trade expected to surpass $350 billion this year, Wen said.
Beijing is concerned about inflation, but said this week it will "fine-tune" monetary policy amid "global systemic risks", raising hopes of a relaxation in credit after growth slowed to 9.1 percent.
- AFP/de
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