Vice-Premier Li Keqiang sounded a warning to mainlanders about economic dangers in the world today, in Beijing's latest swipe at US economic pump-priming. Without specifying any country, Li criticised loose monetary policies that might lead to speculative cash flows and spur inflation. His comments built on Beijing's criticism of the US Federal Reserve's recent decision to inject another US$600 billion into the American economy following a US$700 billion bailout that began in late 2008. 'Some major economies, in order to stimulate their own recoveries, have adopted policies to seek continuous monetary expansion and massive increase in liquidity,' Li wrote in an article published in the official People's Daily yesterday. Such policies 'may cause fluctuations in international financial markets and push up prices of major commodities such as energy and resources', he wrote. 'The influx of hot money may also impact emerging economies in the meantime.' Mainland officials had earlier lashed out at the Fed's latest round of quantitative easing, warning that the move could hurt the global economy and inflate asset bubbles. At the Group of 20 summit in Seoul last week, President Hu Jintao urged the United States to follow 'responsible policies' and maintain a stable US dollar, turning the tables after Washington criticised Beijing's currency and trade policies. Li wrote the article to explain the significance of the Communist Party Central Committee's proposal for the mainland's 12th Five-Year Plan (2011-15). He said the mainland could afford to waste no time in pursuing its 'green development' policies and technologies in the global competition for opportunities. Li's portfolio includes overseeing the mainland's various energy programmes. Among Beijing's elite circles, he is tipped to be the main candidate to succeed Premier Wen Jiabao in 2013. He is rumoured to be the project leader of the 12th Five-Year Plan. 'The general rule is, whoever is the project leader will be the next premier,' said Xie Simin , a lawyer in Beijing's financial circles. The article is seen as mainly targeting domestic readers. It is another move to boost Li's credentials to become the next cabinet leader, after the Central Committee completed the draft Five-Year Plan in the middle of last month. Li said candidly that 'new pressures' for balancing domestic and international market demand were facing China as a result of the world's slow recovery and demand for Chinese exports. Now was the time for the mainland to shift to an economic strategy led primarily by domestic consumption, the vice-premier wrote. 'As indicated by international experience, any major power's development process must be led by its domestic demand.' He also reported the Beijing leadership's concern with climate change, energy security, grain and food security, and public health. Those were all issues significant in international relations and involving global co-operation and negotiations. China's new challenge, Li wrote, was how to 'play a positive role and to seek possible benefits while steering clear of danger'.