AFP, Paris :
World finance ministers and central bankers gather in Turkey this weekend to grapple with the fallout of slowing growth in China, tanking emerging economies and panicked global stock markets.
Signs that China’s economy-the world’s second-largest-is slowing more than expected have panicked stock markets, pushed commodity prices to fresh lows, sparked a rout in emerging market currencies and thrown into question a US interest rate rise previously expected in September.
The potential chilling impact of a new cycle of US interest rate hikes fed uncertainty and concern ahead of the meeting of the Group of 20 top advanced and emerging economies.
“China’s transition to a lower growth, while broadly in line with forecasts, appears to have larger-than-previously-envisaged cross-border repercussions, reflected in weakening commodity prices and stock prices,” the International Monetary Fund warned in a report on policy challenges facing the G20.
“The expected boost in economic activity from lower oil prices has not materialized, and lower energy costs are keeping inflation low.
World finance ministers and central bankers gather in Turkey this weekend to grapple with the fallout of slowing growth in China, tanking emerging economies and panicked global stock markets.
Signs that China’s economy-the world’s second-largest-is slowing more than expected have panicked stock markets, pushed commodity prices to fresh lows, sparked a rout in emerging market currencies and thrown into question a US interest rate rise previously expected in September.
The potential chilling impact of a new cycle of US interest rate hikes fed uncertainty and concern ahead of the meeting of the Group of 20 top advanced and emerging economies.
“China’s transition to a lower growth, while broadly in line with forecasts, appears to have larger-than-previously-envisaged cross-border repercussions, reflected in weakening commodity prices and stock prices,” the International Monetary Fund warned in a report on policy challenges facing the G20.
“The expected boost in economic activity from lower oil prices has not materialized, and lower energy costs are keeping inflation low.
