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China says it's a victim of G20 target to limit trade deficit

Published 04/11/2011, 11:05 PM
Updated 04/11/2011, 11:08 PM

BEIJING, April 12 (Reuters) - A U.S.-proposed target to limit countries' current account deficits is merely a political tool aimed at containing China's economic development, China Vice Finance Minister Li Yong said on Tuesday.

In an article published on the ministry's website, Li also said the European debt crisis could worsen by spreading from the peripheral euro zone region.

To rebalance the world economy, U.S. politicians had proposed at a meeting of the Group of 20 nations to limit countries' current account deficits to 4 percent of their gross domestic product. (Reporting by Zhou Xin and Koh Gui Qing; Editing by Ken Wills)

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