Warning to avoid financial risks from China – WORLD
Warning to avoid financial risks from ChinaXia Xiande, China’s vice finance minister, said steps must be taken to prevent financial risks from rising as high interest rates persist around the world.Xia Xiande, China’s vice finance minister, said steps must be taken to prevent financial risks from rising as high interest rates persist around the world, pointing to trade frictions, epidemics, supply chain problems, inflation and due to the latter’s geopolitical conflicts. years Xia said that the IMF and the World Bank will have a global impact in 2023. He noted that his economic growth forecasts were lower than before the epidemic, pointing out that there have also been changes in interest rates, Xia said that many central banks have raised interest rates to prevent inflationary pressure, and liquidity has declined. N Xia noted that attempts to break global supply chains are disrupting the world order, and countries have to reorganize their industries and supply chains. Xia also pointed out that although the world’s birth rate is constantly falling, the cost of labor is rising. The Chinese government has set a 5 percent growth target for 2023. Recalling that he had announced his announcement, Xia indicated that government financial spending would be increased to achieve this goal.
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