2023-04-20

In response to the latest Global Financial Stability Report issued by the International Monetary Fund, which pointed out that factors such as the turbulence of the U.S. banking industry exacerbated the risk of global financial stability, the spokesman of the Chinese Foreign Ministry said that the current international financial risks are prominent, which is closely related to the radical adjustment of monetary policies of the United States and other developed countries. International parties generally believe that the economic and financial policies of the United States have become the biggest challenge to global financial stability.

Chinese Foreign Ministry spokesman Wang Wenbin said at a regular press conference Thursday (April 20) that global financial stability is related to the effectiveness of world economic recovery and development and the common interests of all countries, and needs to be jointly maintained by all parties. The Federal Reserve has aggressively raised interest rates since last year, significantly pushing up global financing costs and exacerbating disorderly international capital flows. This not only leads to the bankruptcy or acquisition of some banks in the United States and Europe, but also exacerbates the difficulties of emerging markets and developing countries, which is not conducive to the stable recovery of the world economy and global common development.

Wang Wenbin said that relevant research reports show that nearly half of the debts of countries with heavy global debt burden come from commercial creditors of developed countries. Since last year, the interest rates of developed countries such as the United States have risen, significantly increasing their debt repayment burden, causing them to fall into a vicious cycle of debt repayment and face the prominent risk of debt default.

In response to the latest Global Financial Stability Report issued by the International Monetary Fund, which pointed out that factors such as the turbulence of the U.S. banking industry exacerbated the risks of global financial stability, the spokesman of the Chinese Foreign Ministry said that the current international financial risks are prominent, which is closely related to the radical adjustment of monetary policies of the United States and other developed countries. International parties generally believe that the economic and financial policies of the United States have become the biggest challenge to global financial stability.

Wang Wenbin said that China urged the United States and other developed countries to carefully assess the spillover effects of their economic and financial policies, stabilize market expectations in a timely manner, and avoid a vicious impact on global financial stability.

He also said that China calls on developed countries to listen to the real voices and urgent needs of developing countries, provide "real gold and silver" assistance to countries facing difficulties, stop "giving lip service but not receiving it" and blaming others, and effectively assume their obligations to maintain global financial stability and promote world economic recovery.

In response to the latest Global Financial Stability Report issued by the International Monetary Fund, which pointed out that factors such as the turbulence of the U.S. banking industry exacerbated the risk of global financial stability, the spokesman of the Chinese Foreign Ministry said that the current international financial risks are prominent, which is closely related to the radical adjustment of monetary policies of the United States and other developed countries. International parties generally believe that the economic and financial policies of the United States have become the biggest challenge to global financial stability.

Chinese Foreign Ministry spokesman Wang Wenbin said at a regular press conference Thursday (April 20) that global financial stability is related to the effectiveness of world economic recovery and development and the common interests of all countries, and needs to be jointly maintained by all parties. The Federal Reserve has aggressively raised interest rates since last year, significantly pushing up global financing costs and exacerbating disorderly international capital flows. This not only leads to the bankruptcy or acquisition of some banks in the United States and Europe, but also exacerbates the difficulties of emerging markets and developing countries, which is not conducive to the stable recovery of the world economy and global common development.

Wang Wenbin said that relevant research reports show that nearly half of the debts of countries with heavy global debt burden come from commercial creditors of developed countries. Since last year, the interest rates of developed countries such as the United States have risen, significantly increasing their debt repayment burden, causing them to fall into a vicious cycle of debt repayment and face the prominent risk of debt default.

In response to the latest Global Financial Stability Report issued by the International Monetary Fund, which pointed out that factors such as the turbulence of the U.S. banking industry exacerbated the risks of global financial stability, the spokesman of the Chinese Foreign Ministry said that the current international financial risks are prominent, which is closely related to the radical adjustment of monetary policies of the United States and other developed countries. International parties generally believe that the economic and financial policies of the United States have become the biggest challenge to global financial stability.

Wang Wenbin said that China urged the United States and other developed countries to carefully assess the spillover effects of their economic and financial policies, stabilize market expectations in a timely manner, and avoid a vicious impact on global financial stability.

He also said that China calls on developed countries to listen to the real voices and urgent needs of developing countries, provide "real gold and silver" assistance to countries facing difficulties, stop "giving lip service but not receiving it" and blaming others, and effectively assume their obligations to maintain global financial stability and promote world economic recovery.