The US decline has exacerbated global economic challenges

Xinhua News Agency, Beijing, August 11: The United States decline has exacerbated global economic challenges

Xinhua News Agency reporter

After the inflation has soared to the highest level in the past 40 years, the GDP in the United States has continued to decline in the first two quarters of this year, exacerbating the outside world's concerns about the decline in the US economy. Multi -nation experts point out that the US economy is cold due to its own factors, including monetary policy, and its spillover effect will drag down the global economic recovery and bring severe challenges to developing countries and emerging economies.

Economic recession may not be avoided

According to data from the US Department of Commerce, the GDP in the second quarter of this year was calculated by 0.9%at the annual rate of annual rates, which shrinks for two consecutive quarters, constituting a technical recession in the usual sense.

"Japan Economic News" reported that it has occurred 10 times since 1949, and has been officially identified as economic recession.

Over the past few months, the United States has remained high, consumption has begun to slow, and domestic demand has been weakly dragging on economic performance. It is expected that the economy will perform worse in the next 12 months. Many economists believe that the US economy has deteriorated.

Klaus Gragan Geen, an expert at the Kirn Institute of Economics in Germany, believes that high prices have significantly weakened the momentum of economic development in the United States. The Federal Reserve has greatly increased interest rates against inflation, suppressed consumption and investment, and its economic performance weakened.

Li Xingyu, Executive Director of the Social Economic Research Center of the Chinese Chamber of Commerce in Malaysia, recently told a reporter from Xinhua News Agency in Kuala Lumpur: "The risk of economic recession in the United States is increasing. It is known that the US economic recession may continue until the end of next year.

Cai Wei, a senior vice president of Kaitai Bank of Thailand, described the current US economic difficulties with "frozen three feet of cold". It is believed that the recent unfavorable factors include the new crown epidemic, the situation of Ukraine and the decline in overseas market demand, and the performance of corporate performance.

Monetary policy affects the world

According to data from the US Department of Labor, the US Consumer Price Index (CPI) increased from March to May of more than 8%year -on -year, and the CPI rose 9.1%year -on -year in June, an increase of nearly 41 years. In order to suppress inflation, the Federal Reserve announced the 75 -basis points of interest rate hikes at the end of July. This is the fourth interest rate hike this year and the second consecutive interest rate hikes 75 basis points.

Experts point out that in the context of the current new crown epidemic that has not fully retired and countries strive to maintain the economic recovery trend, the Fed's radical interest rate hike has seriously affected the economic recovery of countries, especially developing countries.

James Morrison, an associate professor of international political economics at the School of Political Economics of London, believes that the United States' measures to respond to high inflation may trigger a world economic recession. The slowdown in the US economy will curb consumption of global goods and services.

Hasquestan political economist Peter Swaic believes that developed economies accelerate and tighten monetary policy, leading to intensified concerns about the decline of the world economy, and emerging economies will be the first.

Jacusia Paldde, chief economist of Permata Bank, Indonesia, said that the United States such as Indonesia and other ASEAN countries regarding the United States as an important commodity export market, and exports are bound to be affected by the US economic recession.

Sri Lanka, who is facing a crisis such as lack of foreign exchange, shortage of materials, high prices, and tight power supply, saying that the country's economist Moramadari said that the Fed's interest rate hike will increase the difficulty of attracting foreign investment and entering the international market in Sri Lanka.

Policy errors harm yourself

Multi -nation experts point out that the high inflation of the United States should be blamed on monetary policy, fiscal policy, imposing tariffs on other countries, and improving economic sanctions. Due to the dominant position of the US dollar in the global financial system, countries around the world, especially emerging economies, have to "pay" for their policies.

Lu Yaoqun, director of the Institute of Governance and Sustainable Development of the State University of Singapore, believes that the United States increased tariffs from protectionism, which led to rising goods and services imported from overseas. "The irresponsible economic policy of the United States not only causes trouble to itself, but also affects the world."

Carim Umida, a professor of economics at the Arab Science and Technology and Maritime Academy of Science and Technology and Maritime, blamed the policy of declining the US economy on the policy of making trade disputes and constantly raising interest rates. It is believed that the US economic recession will hinder the development of Egypt, the Middle East and even the global development.

Yarouslav Lavlvolik, director of the Russian think tank "Validai" international debate, pointed out that the slowdown in economic growth in major developed countries has even fallen into a decline, which is largely related to its own economic policy, including monetary policy response to inflation and cannot be inflation. Effectively balance economic growth and inflation.

Some experts warn that the Fed's interest rate hike will exacerbate the global financial market turmoil. With the return of international funds to the United States, developing countries will face challenges such as stock market fluctuations, depreciation of local currency, rising interest on US dollar debt, and a significant increase in import raw materials.

Under the long -term influence of the US dollar hegemony, the director of the Mexican Institute of Industrial Development and Economic Growth, the director of the Institute of Industrial Development and Economic Growth, said that the world has repeatedly developed a financial and economic crisis, which is difficult to develop stable development.

Charles Oukanaisjujujan, an expert at Nigeria International Relations and Director of the China Research Center, said that it is subject to the central position of the US dollar in the international financial system. The economic fundamentals and foreign trade activities of African countries are closely linked to the US dollar reserves The United States can transfer inflation pressure to African countries through monetary policy.

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