China President Xi Says Global Economic Recovery Remains Elusive

Chinese President Xi Jinping said the global economy has entered a period of “profound readjustment” and recovery remains elusive.

The international financial industry is fraught with risks and protectionism is on the rise, Xi said in a speech at the Boao Forum for Asia in the southern Chinese province of Hainan today. Countries are still facing difficulties in adjusting their economic structure and the global-governance mechanism needs improvement, he said.