China's Premier Li Keqiang (C) speaks at the 1+6 Roundtable on promoting growth in the Chinese and global economies at the Diaoyutai State Guesthouse in Beijing, China, July 22, 2016. REUTERS/Mark Schiefelbein/Pool
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Chinese Premier Li Keqiang Friday called on world leaders to step up macroeconomic policy coordination, after meeting the heads of the International Monetary Fund, the World Bank, and other senior global economic officials.Li said the sound fundamentals of China's economy remained unchanged despite facing strong downward pressures, and that the government's debt ratio was not high, although he added that the government would step up regulation of the shadow banking sector and monitor local government fiscal practices.Unlike many developed economies, China still has ample ammunition left for further fiscal and monetary policy stimulus, but some economists worry stimulus won't be able to compensate for weak demand, leaving China in a "liquidity trap".
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