China’s Zhu says US tapering to have significant global effect

China’s vice fin min on Reuters

• says its no time to be arrogant while structural problems in Europe are far from solved
• US Fed tapering is drving capital flight and currency depreciations but emerging markets have structural problems
• says pressing task is to enhance economic policy co-ordination.
• no need for rescue plans now

First warning shot across the US bows from the G20 summit

Little impact on price action

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