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France says "no crisis" in world economy as G20 meets

French Finance Minister Michel Sapin attends a media roundtable discussion in Hong Kong, on February 26, 2016France said there was “no crisis” in the world economy as a meeting of G20 officials kicked off Friday, despite warnings from the International Monetary Fund that the global recovery risked being derailed. Speaking in Hong Kong en route to the meeting in Shanghai, French Finance Minister Michel Sapin said the global economy faced a series of difficulties but described them as “surmountable” and warned against overreaction to current problems. The G20 meeting takes place against a backdrop of economic turmoil, with the IMF citing China’s faltering economy, falling oil and commodity prices and financial market turbulence as major risk factors in a report earlier this week.

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