(ECNS) -- The British electorate voting to leave the European Union will "cast a huge shadow on the world economy," although global markets overreacted to the shocking result, said China's Minister of Finance Lou Jiwei on Sunday.
Lou was speaking at a symposium held during the first annual meeting of the Asian Infrastructure Investment Bank in Beijing.
It might not be good news for Britain to leave the EU, and its impact will linger for the next 5 to 10 years, Lou said.
Since the beginning of the year, the world economy has seen an even slower and more imbalanced recovery. The World Bank has revised its world growth projection of 2.9 percent made in January to 2.4 percent. Brexit will add yet more uncertainty.
Brexit sent shivers through international markets on the same day the referendum was held. The British pound tumbled by as low as 10 percent against the U.S. dollar, setting a 30-year low, while the yuan also saw significant depreciation against the dollar.
Lou said it was an overreaction and that investors should calm down in order to make good judgement.
