China needs to pay close attention to...>

CHINA PRESS: China needs to pay close attention to the accelerating withdrawal

of global monetary policy easing and react as needed in a timely and proper

manner, the Economic Information Daily said in the front page commentary on

Friday. China should be fully prepared for the spillover effects of monetary

policy in developed countries, the commentary warned. Some emerging countries

have made moves to offset the impact by cutting interest rates, which indicates

the economic growth drivers in those countries are fading. But it is hard to

reverse the impact of the world-wide monetary policy tightening trend, which

could increase the risk of capital outflows from emerging markets, the

commentary noted. (Economic Information Daily)