The
debt crisis sparked by the European and turned into a ghost threatening
the world economy, international fears of a large landslides in global
markets and fears of a repeat of the 2008 crisis, and those concerns are
increasing in developing countries, which are looking great for
achieving high rates of economic growth in the coming years.
According to news agency Xinhua reported that Chinese leaders have warned of the risk of deterioration of the debt crisis, European contractors to participate in reforming the International Monetary Fund, and during the visit of President of the Fund's Christine Lagarde to China - recently - which lasted two days. He said Premier Wen Jiabao at a meeting of Lagarde between them that "the European sovereign debt crisis has strengthened the financial risk in developing economies, and formed the severe challenges of the global economic recovery."
This is the first visit to Beijing, which carried out by Lagarde, who acted as the Managing Director of the International Monetary Fund in June with the support of China, after taking office. During the visit, Lagarde discussed the global economy, and European debt crisis with Chinese Premier Wen, the Chinese Vice President Xi Jinping and Vice Premier Wang Qishan and central bank governor Zhou Xiaochuan.
Wen said that "China supports the counter-measures taken by the European Union, the European Central Bank, the International Monetary Fund to deal with sovereign debt crisis." Wen said, "We hope to work closely with the various parties ... to maintain international financial stability and strengthen confidence and the driving force for the global economy," adding that "The Chinese government will manage its own affairs well. And that the country is committed to ensuring sustained economic growth, and fast. and that China will help the International Monetary Fund to play a more positive role in helping the economic crisis, control and coordination of macroeconomic policies of the States, and maintaining global economic stability. "
And slowing the growth of bilateral trade between the EU and China, the largest trading partner of the European Union now, because of the crisis.
For its part, Lagarde said during her speech in Beijing, that the world economy entered the "critical stage and the mysterious", and there is the possibility of "the lost decade of slow growth and high unemployment," as urged advanced economies to pursue policies to restore confidence and raise growth, while praised the policy making and economic performance of China. Lagarde pointed out that the sustained economic growth and China's rapid characterized by "the importance of irreplaceable" for the stability and development in the world.
In this context, Zhang Han Lin, a professor in the World Trade Organization Studies, told Xinhua that China's policies of stimulating imports amid financial crisis and economic crisis, contributed a lot to the global economy. Customs statistics indicate that China's imports in October increased by 28.7 per cent year-on-year to U.S. $ 140 billion. And narrowed the trade balance in their favor by 15 per cent in the period between January and October.
Zhang said, "It is very important, that such support growth of domestic consumption boom in China, what will benefit the global economy recovers."She said (Xinhua) The Chinese leaders stressed the importance of reforming the International Monetary Fund for the global economy, an issue highlighted by President Hu Jintao at a summit leaders of the Group was in the twentieth. For his part, said Chinese Vice President Xi Jinping, an economy that China is a rising and a developing country, has repeatedly called for a vote of the States similar increase in global economic governance.In a related development, said Robert Mundell, Nobel Prize winner, said the European Central Bank's purchase of the bonds "concept and necessary," but that the euro area should investigate break in three major tracks to overcome the debt crisis. He said the world known as Abu euro "It is understood that there is some kind of weakness in the sense of central banks," he said, adding that rising interest rates and the risk of bankruptcy high that threaten the heavily indebted countries on a large scale in the euro area has become a "major problem" for the continent of Europe.He said the three tracks include "I, for accountability of countries such as Greece, Italy, Portugal and Spain, have to make adjustments and the discovery of growth policies possible in this crisis." "Second, should these countries to develop a mechanism for liquidity, as countries such as Italy hopes to find credit to avoid defaulting. " He Mundell said: "Third, they have to work on the institutional and financial management to improve quickly."And play Germany and France, the biggest powers in the region, a key role in promoting economic and political support to ensure the concrete block and the single currency unit. A statement by French - German issued by the Elysee Palace, said recently that French President Nicolas Sarkozy and German Chancellor Angela Merkel "agreed to a comprehensive and ambitious Toverastjabh to the current crisis in the euro area", and in anticipation that quickly adopted by Europeans counterparts. The joint statement said the two leaders agreed to address the crisis in the euro area. The statement added that "a comprehensive response and ambitious" includes three main components, which are a practical application of the mechanism of the financial stability of European expanded, "a plan to boost banks' capital of European," Applying the governance of economic development in the euro area, and promote economic integration.Marin said Michael, an analyst at Munzger Finance, "The alternatives are able to stop the tension is still non-existent. Though investors are impatient and want politicians to speed up their procedures. They want to see an interactive higher in order to once again trust in the financial system in the region." She added that "in light of the urgency and the strong desire of the leaders of the euro zone to rescue Greece and mass, in turn, the road out of the crisis will discover, but it will take some time. And I think it will disappear uncertainty and rising indicators with a succession of political decisions quickly."He said Charolot com, an analyst with Oriel BG C, "The approval of major European parliaments to the second package of Greece and the efforts made to address the debt crisis in the state fears subsided." And "The investors more confidence in politicians who will try to avoid a collapse in the region. On the other hand, there is an expectation of changes and differences on a large scale in the coming days, according to the type of the news."
According to news agency Xinhua reported that Chinese leaders have warned of the risk of deterioration of the debt crisis, European contractors to participate in reforming the International Monetary Fund, and during the visit of President of the Fund's Christine Lagarde to China - recently - which lasted two days. He said Premier Wen Jiabao at a meeting of Lagarde between them that "the European sovereign debt crisis has strengthened the financial risk in developing economies, and formed the severe challenges of the global economic recovery."
This is the first visit to Beijing, which carried out by Lagarde, who acted as the Managing Director of the International Monetary Fund in June with the support of China, after taking office. During the visit, Lagarde discussed the global economy, and European debt crisis with Chinese Premier Wen, the Chinese Vice President Xi Jinping and Vice Premier Wang Qishan and central bank governor Zhou Xiaochuan.
Wen said that "China supports the counter-measures taken by the European Union, the European Central Bank, the International Monetary Fund to deal with sovereign debt crisis." Wen said, "We hope to work closely with the various parties ... to maintain international financial stability and strengthen confidence and the driving force for the global economy," adding that "The Chinese government will manage its own affairs well. And that the country is committed to ensuring sustained economic growth, and fast. and that China will help the International Monetary Fund to play a more positive role in helping the economic crisis, control and coordination of macroeconomic policies of the States, and maintaining global economic stability. "
And slowing the growth of bilateral trade between the EU and China, the largest trading partner of the European Union now, because of the crisis.
For its part, Lagarde said during her speech in Beijing, that the world economy entered the "critical stage and the mysterious", and there is the possibility of "the lost decade of slow growth and high unemployment," as urged advanced economies to pursue policies to restore confidence and raise growth, while praised the policy making and economic performance of China. Lagarde pointed out that the sustained economic growth and China's rapid characterized by "the importance of irreplaceable" for the stability and development in the world.
In this context, Zhang Han Lin, a professor in the World Trade Organization Studies, told Xinhua that China's policies of stimulating imports amid financial crisis and economic crisis, contributed a lot to the global economy. Customs statistics indicate that China's imports in October increased by 28.7 per cent year-on-year to U.S. $ 140 billion. And narrowed the trade balance in their favor by 15 per cent in the period between January and October.
Zhang said, "It is very important, that such support growth of domestic consumption boom in China, what will benefit the global economy recovers."She said (Xinhua) The Chinese leaders stressed the importance of reforming the International Monetary Fund for the global economy, an issue highlighted by President Hu Jintao at a summit leaders of the Group was in the twentieth. For his part, said Chinese Vice President Xi Jinping, an economy that China is a rising and a developing country, has repeatedly called for a vote of the States similar increase in global economic governance.In a related development, said Robert Mundell, Nobel Prize winner, said the European Central Bank's purchase of the bonds "concept and necessary," but that the euro area should investigate break in three major tracks to overcome the debt crisis. He said the world known as Abu euro "It is understood that there is some kind of weakness in the sense of central banks," he said, adding that rising interest rates and the risk of bankruptcy high that threaten the heavily indebted countries on a large scale in the euro area has become a "major problem" for the continent of Europe.He said the three tracks include "I, for accountability of countries such as Greece, Italy, Portugal and Spain, have to make adjustments and the discovery of growth policies possible in this crisis." "Second, should these countries to develop a mechanism for liquidity, as countries such as Italy hopes to find credit to avoid defaulting. " He Mundell said: "Third, they have to work on the institutional and financial management to improve quickly."And play Germany and France, the biggest powers in the region, a key role in promoting economic and political support to ensure the concrete block and the single currency unit. A statement by French - German issued by the Elysee Palace, said recently that French President Nicolas Sarkozy and German Chancellor Angela Merkel "agreed to a comprehensive and ambitious Toverastjabh to the current crisis in the euro area", and in anticipation that quickly adopted by Europeans counterparts. The joint statement said the two leaders agreed to address the crisis in the euro area. The statement added that "a comprehensive response and ambitious" includes three main components, which are a practical application of the mechanism of the financial stability of European expanded, "a plan to boost banks' capital of European," Applying the governance of economic development in the euro area, and promote economic integration.Marin said Michael, an analyst at Munzger Finance, "The alternatives are able to stop the tension is still non-existent. Though investors are impatient and want politicians to speed up their procedures. They want to see an interactive higher in order to once again trust in the financial system in the region." She added that "in light of the urgency and the strong desire of the leaders of the euro zone to rescue Greece and mass, in turn, the road out of the crisis will discover, but it will take some time. And I think it will disappear uncertainty and rising indicators with a succession of political decisions quickly."He said Charolot com, an analyst with Oriel BG C, "The approval of major European parliaments to the second package of Greece and the efforts made to address the debt crisis in the state fears subsided." And "The investors more confidence in politicians who will try to avoid a collapse in the region. On the other hand, there is an expectation of changes and differences on a large scale in the coming days, according to the type of the news."
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