Dec. 1 (Bloomberg) -- China must closely monitor Europe and U.S. economic trends as the global economy faces severe challenges, Vice Finance Minister Zhu Guangyao said at an economic conference in Beijing today.
The global recovery may halt as developed economies face risks of recession, he said.
Recent euro-zone and European finance ministerial meetings yielded “positive results” in implementing an earlier agreement to tackle the Europe debt crisis, he said. Zhu hopes the upcoming European summit will push efforts forward to resolve the crisis that has posed serious risks to Europe and global growth, he said.
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