2008年11月23日星期日

Financial crisis has evolved into economic crisis


World Bank President Robert Zoellick in Paris yesterday warned that the current financial crisis has evolved into economic crisis. He said that in the next few months will lead to a crisis of unemployment and lead to the deterioration of the supply of food and energy. This argument was sparked widespread concern, the Shanghai Academy of Social Sciences, Fudan University and an expert in a morning interview, Zoellick agree with the basic point of view, and stressed the need to adhere to China to open domestic demand. Or the greatest harm to developing countries Zoellick, "the financial crisis has been transformed into economic crisis," the warning is deafening. He stressed that once the crisis which followed, developing countries may harm the poor the most. Zoellick said that in order to cope with the crisis, the World Bank is facing a great challenge. Recently, the World Bank announced that it would also increase financial support for developing countries, including the next three years a substantial increase in the amount of loans the World Bank to speed up the long-term interest-free loans and grants part of the process as well as the construction of the four funds. Prior to the G20 finance summit, Zoellick also expressed the hope that the countries to focus on issues of global financial and economic crisis. The World Bank recently lowered again for next year's economic growth forecast. Developed countries is expected to next year's economy will shrink 0.1 percent, while the world economic growth could only barely reached 1%. Shanghai Academy of Social Sciences Institute of the economy Liu Huang-Song of the view that the United States, Japan, Europe, and other countries and regions in the real economy has been hit by financial crises. The U.S. unemployment rate continued to rise, the rate of decline in oil prices beyond imagination, from a technical point of view has entered a recession. Shanghai Academy of Social Sciences Institute of Economic Research weigh that, in accordance with the current U.S. economic situation, has been transformed into economic crisis. The automotive industry, or "unemployed" fuse Zoellick on the unemployment crisis in the warnings and predictions of experts that the current financial crisis, have shown a shift of the economic crisis of the typical characteristics of the first to bear the brunt of the U.S. automobile industry. Fudan University China Center for Economic Research, Sun Lijian (blog) pointed out that the three major U.S. auto companies have been "at risk" on the verge of closure risks, which are very long line of business failures will lead to an instant tens of thousands of people unemployed, the "unemployment crisis "No it is not possible. Zoellick and the food and energy to judge the deterioration of the situation, relevant experts believe that the World Bank have more detailed and accurate statistics on the number, based on this basis, made by the judge may not "alarmist." Sun Lijian noted that the drop in oil prices, demand can not be increased in order to guarantee profits, has begun to reduce the current OPEC oil supply in order to guarantee profits. China should adhere to open the domestic demand Sun Lijian that the current face of the deteriorating external environment, China needs to set up an alternative way to the development of the Chinese government has launched a "firewall", 4,000,000,000,000 yuan's plans to expand domestic demand is to be able to open the export-oriented to domestic demand. For the international financial crisis began to drag the real economy, the World Bank recently announced that it would increase financial support for developing countries. It is reported that the World Bank over the next three years to provide up to 1,000 billion dollars in new loans for the protection of the world's poorest and vulnerable groups. In addition to the increase in loans, the World Bank is also accelerating the world's 78 poorest countries (of which 39 are in Africa) in grants and long-term interest-free loan process.

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