China warns of challenges for global economy in 2015

ISTANBUL, Feb. 9 (NsNewsWire) — The global economy faces big and crucial challenges with uncertainty and complexity in 2015, a Chinese government official said in an international financial meeting here on Sunday.

While addressing financial officials and bankers from more than 40 countries just ahead of the first Ministerial Meeting of the Turkish G20 Presidency, Chinese Deputy Finance Minister Zhu Guangyao highlighted risks for the world economy and called on joint efforts to face the challenges.

“The sluggish global growth is a real challenge faced by all members of G20,” Zhu Guangyao said, referring to the downgrade of global economic growth from 3.8 percent to 3.5 percent in January by the International Monetary Fund, reports Xinhua.

Diverging monetary policies and the fall of oil price are risks causing global economic turbulence, Zhu said.

The U.S. Federal Reserve completed the asset purchase program and is in the process of normalization of monetary policy, which is expected to raise interest rate in the middle of this year, he said.