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Zheng Xueqin the emerging countries should increas
The United States of AmericaChicago Board Options Exchange of Zheng Xueqin of general manager of the European debt crisis is more than the United States of America financial crisis more profound crisis ,especially in emerging countries .
In the United States of America financial crisis, emerging countries economic recovery is the window ;in the European debt crisis ,emerging countries economic downturn has become a real threat .
However ,the emerging countries especially China is still in the expansion of economic scale ,improve the whole social welfare level ,the government may have a goal to a certain area and certain key industry investment .
The United States of America financial crisis can be regarded as the periodic economic crises .That is to say ,it only reflect the economic downturn phase characteristics ,just in time, injection of liquidity ,economic able to repair themselves .
Until now ,the United States government to use debt to repay the debt policy ,still follow this logic .The European debt crisis exposed is another kind of structural crisis .It reflects the economy of the developed country deleveraging process has entered into the existing economic and social structure cannot afford stage .
The economy can be restored to the normal cycle ,the social system and the economic structure must be reformed .Germany advocated by euro-zone finance integration ,implementation of this reform is one of the ways .
Regardless of whether the world economy will bottom two emerging countries ,current challenges are unprecedented ,hollister,so the government to adopt what kind of policy on economic development has a crucial role in .
Market economy emerging countries out of poverty ,jordan,but if left unchecked ,the market economy will be the first chase on the lowest branch fruit .On the cheap labor and money does not flow to the country, the most direct way is to export .
If the world economic crisis is a structural rather than cyclical ,doudoune moncler,so the recovery hopes in the resumption of exports ,will be a strategic mistake .Although the American economy still is in growth ,but the 5 children each have 1 below the poverty line ,15 families each with 1 should rely on the government food stamps to maintain life ,the unemployment rate is 9%, with 1/4 insolvent property ,hollister outlet.
Before the financial crisis ,abercrombie,the United States residents through two mortgage from the property lending consumption accounted for the United States GDP 11,abercrombie and fitch.5% (1993-1997 years is 2.5-3.8% ) ,this situation is not likely to occur .
Exports to China ,the United States will still is China main export country ,but by China population only 1/4 the United States residents consumption to stimulate economic development in China ,the long run is not realistic .
In China, private enterprises are too small ,too weak ,in the face of the global crisis situations, economic transition also cannot rely on market forces to the emerge of itself and perish of itself .
In addition to the supervision of product quality ,standardize the financial capital flow and adjust the gap between the rich and the poor ,the government needs to increase investment ,especially for the relatively backward economy local investment ,to help achieve the economic transformation .
Since the financial crisis, there have been many appear wrong economic theory .A typical example is that China caused the financial crisis in the United States ,this is unfounded .Recently,hollister deutschland, Professor Shen Xuansong of Princeton University ( Hyun Song Shin ) according to the bank for International Settlements data published a research report .
He points out ,in 2007 before the outside of the United States bank holds 10 trillion dollar assets from the United States ,European banks to raise funds to buy large ,then turn the shadow of America Bank loan product .
As a result of these capital flows are in us forms, so some economists to ignore .The United States pension funds holding assets in fact over China .Therefore, emerging countries to accumulate wealth is not wrong ,it is important to accumulate wealth mobilized, to bring up the offspring of welfare services .
The emerging national investment and development speed is higher than that of the developed countries ,the imbalance is normal ,hollister uk.Otherwise ,emerging countries are always emerging countries ,developed countries are developed countries .
Chinese economy and government finance with or fee Redman era in the United States are not the same .Keynes advocated by the government investment to solve the problem of unemployment, maintain the social demand ,abercrombie france,the goal is to keep the existing economic dimensions .
China is now in the expansion of economic scale ,hollister,developing stage .Friedman thought that the government to compensate for the expenses of issuing money will lead to inflation ,China is in order to improve the whole social welfare and development investment ,the government expanded its scale ,the blindness of social welfare is not the same thing .
Inflation in emerging countries, in a considerable period of time is a threat, one important reason is that the factor of dollars .The Fed had two basic goals ,one is to control inflation ,the two is the guarantee of employment .
As long as the United States does not pose a threat of inflation in the economy ,the Fed will always take the low interest rate policy ,to promote employment .The United States of America serious threat of inflation from the wage income of large area rapid rise .
But because the emerging labor price competition ,the United States of America wage level for a long time not quickly improve .Therefore ,abercrombie,the Federal Reserve will be in for a long time to keep interest rates low or even zero interest rate policy ,the value of the dollar would therefore have long-term downward pressure .
Because the dollar is the world commodity currency and commodity prices ,inflationary threat will always exist .If emerging countries in order to hedge against the falling dollar caused by the threat of inflation and cut government investment ,then there will be balanced depression .
If the current crisis is not periodic but structural ,if the government policy guidance is the key to overcome the present crisis ,then to support the economy should not just monetary easing ,for whole economy to provide liquidity ( the validity of this method in the establishment of economic able to repair their own ideas ) ,hollister uk.
For the emerging countries ,the government may have a goal to a certain area and certain key industry investment . disclaimer this article represents the views of the author, has nothing to do with hexun.
com .And the news website the statement ,the neutral ,it contains the content the accuracy ,reliability or integrity of any express or implied warranty .The reader is only for reference ,and please to bear all the responsibility .
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