China Pension's Dai Says U.S. Quantitative Easing to Hurt Global Economy

The U.S.’s so-called quantitative easing will have a negative impact on the global economy, Dai Xianglong, chairman of China’s National Council for Social Security Fund, said at a forum in Beijing today.

Quantitative easing in the U.S. may weaken the dollar and increase the relative value of other currencies, Dai said. It will also cause hot money to flow into emerging economies, he said. Prices in the U.S. and the price of commodities may increase, Dai said.

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