Economic issues have always run through election From the pre-start economic issues has always been on the U.S. presidential election this year, the main line. Last year, the sub-loan crisis on the horizon this year continued to upgrade and eventually evolved into a century to be regarded as the most serious "financial crisis of the century." The unprecedented financial crisis, making this the faltering U.S. economy worsened. In the third quarter, the U.S. economy is in a negative growth of 0.3 percent for the past seven years, the most sluggish quarter. Moreover, projections indicate that the authority of the U.S. economy in the current fourth quarter may be even more substantial decline may be expected to shrink more than 2%. Of particular concern is that the U.S. economy accounted for the largest share of consumer spending in the third quarter fell for the first time in 17 years, which the U.S. economy could lose growth momentum of the largest internal. In the third quarter, the core of the U.S. economy, consumer spending fell 3.1 percent annual rate for 1991 dropped for the first time, also since 1980, the biggest drop. Prior to this market is expected to average 2.4 percent decline. And many economists have warned that the U.S. economy may be faced with the 1980s "stagflation" the most serious recession. In 2001 and the 1990s, the U.S. economy experienced a recession is two is not serious or long duration, in particular the 2001 recession did not occur even two consecutive quarters of negative growth. "It is a critical moment in American history. We are facing the most serious since the Great Depression of an economic crisis." This week in The Wall Street Journal published a signed article, the Democratic presidential candidate Barack Obama said frankly. Obama on the list this year since the United States has 760,000 unemployed people; businesses and households access to credit; housing prices continue to fall, increasing old-age pension has shrunk; wage fell to the lowest level in 10 years, while health care and education costs Rose to the highest point in history. It is because of this bad situation, the American presidential election this year and look forward to the enthusiasm over the past several decades any time. U.S. election experts believe that this year's U.S. presidential election voter turnout is expected to increase, probably a record since 1960, or even a century to a new high. In the last general election in 2004, the U.S. presidential election for the 122 million voters, voter turnout was 55%. American University Center for Study of the American Electorate 2 predicted that this year's U.S. presidential election turnout is expected to reach 135 million, voter turnout may be close to 65%, which in 1960 reached its highest level since. George Mason University election experts McDonald also made similar judgments. Experts predict that more, the current general election turnout could hit a new high of the past 100 years. In the last century, voter turnout was highest in the 1908 election, up 65.7 percent. From this year, voters take part in the vote ahead of time, Americans are not hard to see the importance of the election. As of October 27, that is, "election day" a week ago, the United States has more than 30 states of millions of voters to participate in early voting, more than previous elections. In many states allow early voting, many voters lining up for hours waiting to vote. Tim was the rescue of the financial variables U.S. out of this predicament, to a large extent due to the financial crisis from Wall Street. As the storm of the most typical victims of the five major Wall Street investment firms have been bankrupt a few months, or forced to sell the bank holding company for the transition. The United States has always been upholding of the world's most developed financial system are also at risk, we have continuously introduced a total trillions of dollars of aid programs, of which the largest is the one adopted by the end of September at 700,000,000,000 U.S. dollars financial aid program for its original intention Is to purchase bad loans of financial institutions, also known as the bad debt acquisition plan (TARP). Analysts believe that whether Obama or McCain was elected the next U.S. president will have to take over the TARP this "hot potato." In fact, with the rapid evolution of the situation, the project has been a lot of variables, such as determining asset managers, who help and how to help, and so on. With the new president next year on January 20 formally entered the White House, the plan will face more problems. In the last month carried out a specific response to the crisis in the debate, Obama and his rival John McCain in the Republican Party have expressed their own in this basic position on the issue. McCain has proposed a 300,000,000,000 U.S. dollars of aid program to help troubled financial buyers to keep the house. The money will come from the above-mentioned 700,000,000,000 U.S. dollars in funds. McCain said he would immediately order the Minister of Finance of the United States to buy non-performing mortgage loans, according to the value of these new housing to those lower housing prices after the re-consultation provisions of the loan, mortgage loan restructuring for households more vulnerable to bear the Housing loans. Obama proposed a plan 60,000,000,000 U.S. dollars to cover the tax adjustment, and infrastructure costs for automakers loan guarantees, as well as to help struggling homeowners and the housing foreclosure extended 90 days, and other measures. About six weeks ago, Paul Vacanti out of the core banks for the acquisition of non-performing assets of the TARP program, but since then, the Ministry of Finance seems to be gradually deny the plan. In the past few days, the Ministry of Finance launched a fast to the U.S. banking industry's direct investment program, the deployment of TARP planned 250,000,000,000 U.S. dollars stake in Bank of the United States and nine other regional banks. Not only that, the government is considering that automobile insurance and business sectors, such as more capital injection. In contrast, the non-performing assets of the acquired operations, for various reasons have not yet been formally introduced. In the two presidential candidates appears that any financial crisis in the property market and plans should give priority to homeowners. It is reported that 4 in the election for a few hours after the camp won the U.S. Treasury Department will hold an emergency meeting to discuss the government during the transitional period TARP how to manage the program. A spokesman for the Ministry of Finance said Maikelalin: we are ready to start Wednesday morning with the winning team's preparation. China economic and trade policies of concern In the past the U.S. presidential election, especially economic and trade policy toward China policy is also a topic of concern. This year, as a result of the elections tend to focus too much financial and economic crisis, Sino-US economic and trade issues in the general election focus has been referred to a time when not many, they are not involved. Last week, Obama's Democratic Party threw out the first topic of trade with China, to some extent, it also echoed the Democratic Party has been in economic and trade issues with China's relatively strong position. In 2006 the United States by the end of one of the Democratic Party full control of both houses of Congress, the United States are from all walks of life in foreign trade issues may be more protectionist advocates warn. Some analysts believe that Obama and McCain in Asia's diplomatic and security policies on the consensus achieved is far greater than their differences, but in Asia's trade policies are different. Obama has said he was opposed to South Korea and the establishment of bilateral free trade agreement, unless renegotiated to give U.S. automakers greater access to South Korea's market power, it also reflects the majority party in Congress as the U.S. Democratic Party's policy stance. McCain is clear that in 2007 in support of the United States and South Korea reached a free trade agreement. His assistant said the agreement would increase the volume of trade between the United States in about 100 billion U.S. dollars, and to strengthen one of the major allies of the United States and South Korea. Washington think tank Brookings Institution scholar Fulilafu said that the fear of protectionism should be the relationship between the people, not even the two candidates who support free trade, but who can better take a look at ease in the next Congress may from time to time emerging protectionist tendencies, as the Democratic Party is likely to remain the majority party in the next Congress. China trade issues, Obama seems to show a relatively more hard-line stance. Last week, the final stage of the election, Obama trade with China in the first issue of the article. In his letter to the National Council of Textile Organizations of the letter, Obama vowed to deal with the textile industry's dissatisfaction with the response to some of the companies in the United States on accusations of the RMB exchange rate. Obama said that China's trade surplus with the United States is "manipulating the RMB exchange rate" as a direct result, saying "China must change its policies, including exchange rate policy." Obama said that China must reduce its economic dependence on exports and rely more on domestic demand growth. He said it would do its best to use all diplomatic means to make more changes in China. McCain's China trade policy has been that it is not clear, but he also called on China to take a more flexible exchange rate policy. McCain's camp, according to senior economic adviser Kim Hodes, said McCain has the experience enough to realize that its relations with China should not simply be attributed to the RMB exchange rate. U.S. think tank Center for Strategic and International Studies report released this week, the new president of the Sino-US economic and trade relations have a word of caution. The report notes that the United States is in serious financial crisis and economic recession, as well as the next Congress may become more protectionist tendencies in the future US-China economic and trade relations may be a lot of potential friction. The new president must make a good balance between China and on strategic issues important to maintain contacts and consultations, at the same time we want to deal with civil and political circles in the United States caused anxiety interfere with the economic and trade factors. The report also emphasized that the current US-China economic and trade relations are broad and in-depth. US-China Strategic Economic Dialogue and US-China Joint Commission on Commerce and two major communication mechanism in promoting the healthy development of bilateral economic and trade area has been fully proved the effectiveness of the proposed next U.S. government continues to adhere to these two mechanisms.
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