Economics
China’s Lou Turns Tables on U.S. Over Calls for Faster Change
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China’s Finance Minister Lou Jiwei turned the tables on the U.S., pointing to a lack of structural change in its economy after Treasury Secretary Jacob. J Lew called for China to more quickly expand the role of markets.
Lou also played down the risks from shadow banking, saying that possible defaults in some wealth-management products don’t reflect “big problems” in the industry. Lew last week highlighted potential danger in China’s financial sector as one of several risks clouding the global economic outlook.