U.S. stimulus withdrawal to have global impact: China

Reuters
China's Vice Finance Minister Zhu Guangyao (R) addresses the media during a news conference at a hotel in Los Cabos June 17, 2012. REUTERS/Victor Ruiz Garcia

MOSCOW (Reuters) - The withdrawal of U.S. monetary stimulus will have a significant global effect, China said on Thursday, putting the 'taper' of quantitative easing by the U.S. Federal Reserve at the center of the economy debate at a Group of 20 summit. Zhu Guangyao, China's deputy finance minister, told a briefing before G20 leaders meet that the scaling back of U.S. bond buying was driving capital flight and currency depreciations in emerging markets. But, Zhu added, the emerging economies have structural problems of their own. (Reporting by Lidia Kelly; Writing by Douglas Busvine)