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Chinese vice premier warns against global overflow of liquidity, protectionism


20:53, June 21, 2013

SAINT PETERSBURG, June 21 (Xinhua) -- The world's countries should strengthen coordination to prevent global overflow of liquidity and oppose all forms of protectionism as the economic recovery is still facing a host of uncertainties, Chinese Vice Premier Zhang Gaoli said here on Friday.

Countries "should improve coordination of their national macro-economic policies ... undertake more effective measures in a constructive, open and cooperative way to avoid global overflow of liquidity and inflation for the sake of the stability of international financial system," Zhang said in a key-note address to the Saint Petersburg International Economic Forum, which is being held from Thursday to Saturday.

Zhang said that the global economy has shown some positive signs this year, but a host of uncertainties remain and the economic growth still lacks momentum, so more cooperation and joint efforts are needed for the world economy to return onto a fast track of recovery.

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