Vice Minister of Finance Zhu Guangyao said the US needs to recognize the impact of its recent quantitative easing policy, known as QE2, on global markets, the South China Morning Post reported. "We think the United States, as a major reserve currency issuer, did not recognize its responsibility to stabilize global markets and did not think about the impact of excessive liquidity on emerging markets by having launched a second round of quantitative easing at this time," Zhu said. The comments come shortly before world leaders meet at the G20 and APEC meetings in Seoul and Yokohama, respectively. Zhu said the US plan will create new liquidity which would flood US and emerging markets, potentially posing "great challenges." China is concerned in part about the impact of increased inflows of speculative capital increasing inflationary pressure. China’s consumer price index rose 3.6% year-on-year in September, a 23-month high, and is expected to rise further in October.