Tanzania scholar: US current economic predicament due to its own policies

Xinhua News Agency, Darglus, August 8th (Reporter Xie Hao) Hamffle Moisi, a professor of economics at the University of Darom, Tanzania, said in an interview with Xinhua News Agency that the current economic dilemma in the United States Because of its own policies, this also makes the world lose confidence in the United States.

According to data from the US Department of Commerce, the annual rate of GDP in the second quarter of this year was calculated by 0.9%at the annual rate, and the shrinking for two consecutive quarters. Usually, a negative growth of an economy's economy has been trapped in technical recession for two consecutive quarters.

Mossian said that the US economic dilemma is due to many factors. On the one hand, affected by the new crown epidemic and the Ukraine crisis, global energy and food prices have risen. In order to curb inflation, the Federal Reserve announced the fourth rate hike since the end of July, and it was also the second consecutive interest rate hike 75 basis points to exacerbate its own economic recession risk.

On the other hand, the United States holds a negative position in globalization and multilateralism, provoking trade disputes, causing the price of domestic goods in the United States to remain high, making the economy pressure.

In response to the influence of the Fed's radical interest rate hike, Mossian believes that over time, many countries may use more other currencies outside the trade in trade to reduce the impact and impact of over -dependence on the US dollar on the economy.

Mossian said that developing countries facing economic challenges should seek multilateral cooperation, strengthen regional trade, and implement cautious financial policies.

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