China’s Hu says global economic recovery uncertain

Sunday, 14 November 2010 22:23 - - {{hitsCtrl.values.hits}}

YOKOHAMA Japan, (Reuters) - Chinese President Hu Jintao said on Sunday significant uncertainties remain about a global economic recovery and warned that trade protectionism had “risen notably”.

In a speech on on the sidelines of an Asia-Pacific summit, Hu also said balanced growth was needed to sustain long-term growth.

The United States contends that China’s currency is undervalued, giving it an export advantage, while Beijing argues the U.S. Federal Reserve’s easy-money policy is aimed at weakening the dollar to boost exports and could destabilise other economies.