China warns G20 of global economic risks of Syria intervention

ST. PETERSBURG, Russia – China is warning other world powers of global economic risks of a potential U.S.-led military intervention in Syria’a civil war.

Chinese Vice Finance Minister Zhu Guangyao says such “military action would definitely have a negative impact on the global economy, especially on the oil price.”

He spoke in St. Petersburg on Thursday ahead of a summit of leaders of the Group of 20 leading world economies.

He cited estimates that a $10 rise in oil prices could push down global growth by 0.25 per cent.

He urged a negotiated U.N. solution to the standoff over allegations that Syria’s government used chemical weapons against its own people, expressing hope that “the world economic balance will become more stable rather than more complex and more challenging.”