West's monetary policy hurting emerging economies
Updated: 2012-03-29 16:45
(Xinhua)
|
|||||||||
NEW DELHI - The BRICS countries Thursday expressed concerns over the monetary policy pursued by the Western countries, saying it has been hurting the emerging economies of the world.
According to a draft declaration by the BRICS, aggressive monetary easing by western central banks to revive growth in their economies is hurting emerging nations which are facing a rush of destabilizing capital inflows.
"Excessive liquidity because of the central bank actions has been spilling over into emerging economies, fostering excessive volatility in capital flows and commodity prices," according to the document.
It also says that the BRICS group wants steps to avoid escalation of the Iran oil crisis and favored a diplomatic resolution to the problem.
Leaders of Brazil, Russia, India, China and South Africa, the BRICS nations, are attending a one-day summit in the Indian capital.
- Relief reaches isolated village
- Rainfall poses new threats to quake-hit region
- Funerals begin for Boston bombing victims
- Quake takeaway from China's Air Force
- Obama celebrates young inventors at science fair
- Earth Day marked around the world
- Volunteer team helping students find sense of normalcy
- Ethnic groups quick to join rescue efforts
Most Viewed
Editor's Picks
Supplies pour into isolated villages |
All-out efforts to save lives |
American abroad |
Industry savior: Big boys' toys |
New commissioner
|
Liaoning: China's oceangoing giant |
Today's Top News
Health new priority for quake zone
Xi meets US top military officer
Japan's boats driven out of Diaoyu
China mulls online shopping legislation
Bird flu death toll rises to 22
Putin appoints new ambassador to China
Japanese ships blocked from Diaoyu Islands
Inspired by Guan, more Chinese pick up golf
US Weekly
Beyond Yao
|
Money power |