GLOBAL ECONOMY-Obama fires back after China slates Fed's QE2 - Reuters

* Obama says U.S. low-growth or no-growth danger to world

* China says U.S being irresponsible over QE

* Russia says G20 should have been consulted ahead of QE

* G20 meets in Seoul Nov. 11, 12

By Patricia Zengerle and Krittivas Mukherjee

NEW DELHI, Nov 8 (Reuters) - U.S. President Barack Obama defended the Federal Reserve's policy of printing dollars on Monday during a trip to India, after Chinese officials stepped up criticism ahead of this week's Group of 20 meeting.

The G20 summit has been pitched as a chance for leaders of the countries that account for 85 percent of world output to prevent "currency wars" from spreading to become a rush to protectionism that could imperil the global recovery. [nSGE6A703T]

It has been overshadowed by disagreements over the U.S. Federal Reserve's quantitative easing (QE) policy under which it will print money to buy $600 billion of government bonds, a move that could depress the dollar and cause a potentially destabilising flow of money into emerging economies.

"I will say that the Fed's mandate, my mandate, is to grow our economy. And that's not just good for the United States, that's good for the world as a whole," Obama said.

"And the worst thing that could happen to the world economy, not just ours, is if we end up being stuck with no growth or very limited growth," he said. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

For more stories on G20 issues [ID:nTOE69K01G]

SCENARIOS-Can G20 make FX, trade progress [ID:nSGE6A703T]

Graphics

- Surging capital inflows: r.reuters.com/hep83q

- G20 economies (interactive):link.reuters.com/men39p Basel III: reshaping the rules: r.reuters.com/zys68p ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

The U.S. has frequently criticised China, saying it deliberately undervalues its currency to boost exports.

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