Chinese and United States officials agreed here Monday they should be cautious and prudent about the timing to withdraw economic stimulus measures from their respective economies.
Zhang Xiaoqiang, vice chairman of the National Development and Reform Commission (NDRC), told a news briefing on the second China-U.S. Strategic and Economic Dialogue of the agreement. Zhang said the foundation of the world economic recovery is "not yet solid," adding that the sovereign debt crisis in several eurozone nations is adding to uncertainty.
Europe's economy is a large portion of the world economy and the European Community is China's biggest trading partner. China, therefore, will "keep a close eye on the crisis" and in particular its "negative effect on the economic recovery in Europe," said Zhang.
Zhang said given that the scale of the debt crisis and number of countries involved "are still limited," China should continue its economic policies stated in the government work report early this year.
For more: Chinese Official: China, U.S. Agree on Cautious, Prudent Withdrawal of Stimulus
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