Li Says China Can’t Shoulder Global Economy’s Heaviest Burden

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 stabilizer, the nation also faces long-term downward pressure, he said Friday at a press conference in Beijing. “China is still a developing country — we can’t shoulder the heaviest burden of the world’s economy,” Li said after a round-table discussion on economic growth, trade and finance with heads of institutions including the International Monetary Fund. He called for countries around the world to implement “proactive” fiscal policies, as China is doing.