China sees global eco risks in 2013

Nov 16 2012, 17:41 IST
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SummaryChina faces growing global economic risks in 2013, with the looming fiscal cliff in US.

the supervisory board of the country's $482 billion China Investment Corporation sovereign wealth fund, said integration of the global economy meant that China had to remain on its guard.

We should be prepared for surprises, Jin said.

He said downside risks to U.S. growth from the fiscal cliff could cap expansion of the world's biggest economy at just 1.6 percent in 2013 and that the failure of the European Union to deal with its debt crisis was damaging for the world.

The current strategy is leading us up a blind alley, Jin said of efforts so far by European policymakers to solve a sovereign debt crisis that has festered for three years.

The euro zone needs to strike a proper balance between austerity and growth, Jin said.

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