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China warns Europe over its debt crisis (2)

(China Daily)

09:28, September 26, 2011

But loose US monetary policies are expected to lead to a de facto dollar depreciation, causing losses for Chinese investment, analysts said.

Even if China decides to help Europe, it should not do so without preconditions, said Mei Xinyu, researcher with the Chinese Academy of International Trade and Economic Cooperation, a think tank of the Ministry of Commerce.

European countries should eliminate discriminatory policies toward China regarding goods, services, capital and labor flow, he said. "They should also reduce trade remedy measures against Chinese exports and revise their protectionism-related policies," Mei said.

China still remains a developing country, and it should base its policies on solving domestic problems instead of rushing to help others, said Dong Xian'an, chief economist and president of the Beijing-based Peking First Advisory.

Despite its near-10 percent annual growth rate, China faces problems such as rising inflation, local government debt and excessive capital inflows.

"The government will balance the relationship between growth, economic reform and inflation management, keep prices stable and prevent big fluctuations in the economy," Zhou Xiaochuan said.

Reuters, AFP contributed to this story.

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