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China can't take global economy's burden, says Li

China's Premier Li Keqiang said his country would never enter a currency war, and would keep the yuan at a reasonable level



As the world struggles to break out of a prolonged period of sluggish expansion, don't count on its No. 2 economy to ride to the rescue. That was the message from China's Premier Li Keqiang on the eve of a gathering of finance chiefs from the top emerging and developed economies. While China's contribution to the world will remain large, and serves as a stabiliser, the nation also faces long-term downward pressure, he said on Friday at a press conference in Beijing. "China is still a developing country - we can't shoulder the heaviest burden of the world's ...

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First Published: Sat, July 23 2016. 00:08 IST