Behind the European strike, the high inflation in the United States is leading to the world

The "rotary dart" of sanctions and tariffs causes the European and American high inflation and European strikes behind

On June 21, local time, due to the failure of the British government and the railway trade union on salary increase, the largest railway strike in the UK for 30 years, and more than 40,000 railway employees from 14 railway operators participated in it. A day ago, about 70,000 people in Belgian capital Brussels on the streets protested prices rising, and Brussels Airport was forced to cancel all out -of -Hong Kong flights for strikes for employees. On June 9, local time, the staff of the Paris Dai Gaole Airport in Paris, France held a strike due to a salary increase. About a hundred flights on the same day were canceled by the strike. The Barcelona taxi driver in Barcelona, ​​Spain held a "slow car parade" under the organization of the "elite taxi" of the local industry association in March this year. Protesting the impact of rising energy prices on the taxi industry.

The rising trends of strikes in European countries directly point to the same reason -high inflation rate.

At present, some important industrial chain supply chains have been artificially disturbed, global inflation is high, the international financial market continues to be turbulent, and the momentum of the world economic recovery has continued to weaken. Analysts believe that Russia and Ukraine have a high degree of economic dependence and many countries, and the supply of food and energy has had an important impact on the world economy. At the same time, the United States continues to "arch fire" and exacerbates the risk of regional conflicts. The world economy that has experienced the impact of the epidemic has not healed, adding new injuries, and the recovery is difficult.

Energy and food crisis is the main cause of European inflation

In May, the inflation rate of Britain reached 9.1%, reaching a new high since 1982, and the cost of living in millions of British people is soaring. The British "Economist" wrote that in the growing cost of life, food prices accounted for a large part, and road fuel prices rose 32.8%year -on -year. This was the first time since the data was calculated in 1989. The Bank of England has recently raised its main interest rate to 1.25%for the fifth consecutive time.

ITV, a British independent TV station, reported that the blockade of the port of Odessa in Ukraine is hindering the supply of grain to the world, leading to rising grain shortage and price. In the past four months, Ukraine's grain exports have been reduced by more than two -thirds, and the agricultural storage capacity has fallen to a quarter of the original. Matthew Di, a deputy emergency coordinator of the World Grain Program in Odessa, said that the Russian and Ukraine War was "terrible situation" to the world's grain supply. The World Economic Forum Report shows that Russia is the most important energy supply country in continental Europe. For example, energy imported from Russia in 2020 accounted for one -quarter of European energy consumption, while the Russian and Ukraine war on Russia's energy sanctions on Russia allowed Europe People have to bear high prices.

According to CNN CNN in the United States, due to the more stringent immigration regulations after Brexit, the employment of labor shortage has always been in China, and recent inflation has devalued workers' salaries. Workers of the British railway, maritime and transport unions say that railway strikes may last for several months, and teachers and nurses also consider taking action on wage issues in the "summer of struggle". It is currently predicted that the inflation rate in the UK will reach more than 11%later this year. The UNISON Trade Union on behalf of the 1.3 million public sector workers said last week that it has "prepared strike." CEO of the British Hotel Industry Association Kate Nicars recently told the Times Radio that the railway strike alone may cause the tourism, leisure and theater to lose more than 1 billion pounds.

Christopher Pesarides, the Nobel Prize winner of the United Kingdom, believes that in addition to facing the external impact of the shortage of energy and food supply chain, Britain is also in response to the more severe internal inflation due to the influence of the new crown pneumonia. Earlier, the government's mandatory vacation plan for "burning money" during the epidemic and a series of other financial support plans, although it supported the demand throughout the epidemic period, also pushed public debt to a high point. He warned that an important concern for the next Britain was triggering spiral inflation effects. This situation appeared in the 1970s. At that time It took at least 10 years to eliminate it.

The American high inflation is leading to the world

What is the root of high inflation in this round? Analysts generally believe that the United States to maintain huge fiscal expenditures needed for the long -term war in Ukraine, coupled with the cutting channels for Russia to provide energy and food to the world, and causing the world economy to fall into a more serious crisis than ever. In May, the year -on -year growth rate of the US CPI reached 8.5%. This data was the highest level of inflation since the early 1980s. According to Forbes News Network, before 1982 to 2022, the US CPI increased by more than 8.3%year -on -year. In order to curb this round of inflation, the Federal Reserve has raised interest rates three times, and cumulative interest rate hikes have a total of 150 basis points.

Bloomberg reports that the surge prices are hurting Americans, but the "antidote" raising interest rates will also cause damage -it may indicate a major decline in the US economy and let the world face serious inflation. By early 2024, the possibility of economic recession in the United States was nearly three -quarters, and just a few months ago, this possibility was not so high. Seeing that the pension shrinks due to the rise in food and electricity bills, American families have a pessimistic view of the economy than at any time in 40 years. Recently, the International Labor Organization released a data report stating that the global inflation rate rose from 3.7%to 9.2%from March 2021 to March 2022, more than doubled. The International Monetary Fund has previously warned that the Fed's faster tightening monetary policy may cause capital outflow and currency depreciation of emerging economies, and the prospects for economic growth are even more uncertain. Emerging economies should make policy preparations in advance.

The Wall Street Journal believes that the inflation rate in the United States and Europe is around 8%, but the reasons and solutions are different. European inflation is more input, and it may be relatively short, but its severity is no less than the United States. "Economist" wrote that the impact of rising global food and energy prices in the Russian and Ukraine War was more serious than in the United States. The energy prices of the euro zone increased at an annual rate of up to 39%in May and contributed to the overall inflation rate. About 4 percentage points, and 2 percentage points in the United States. The current price of natural gas in Europe is almost three times the United States. The input factors of European inflation make Europe's life cost crisis more serious, and workers cannot use wage growth and government's large -scale transfer payment to offset it.

Inflation in the United States is dominated by inner causes and may be more durable. The Federal Reserve President Powell has given up the "exposure of inflation" that has previously insisted on insisted on, saying that "inflation may need to be more long -term than previously expected to return to our price stable goal." In addition, the Wall Street Journal also pointed out that the current inflation and supply chain disorders in the United States are the vicious consequences caused by the Federal Reserve. At the beginning of the epidemic, the U.S. government released a large amount of water, and launched a large -scale fiscal policy and the "combination boxing" of super loose monetary policy, which led to the overheating of the epidemic and the imbalance of supply and demand after the epidemic was relieved. On June 17, at the 25th Plenary Session of the St. Petersburg International Economic Forum, Russian President Putin mentioned the inflation problem in Western countries in his speech, accusing Western countries of the face of inflation simply launched a notes to start a banknote printing machine, using simple and rude methods Make up unprecedented budget deficit. In the past two years, the US currency supply has increased by more than 38%, and this is the total number of issued issues issued in the past decades. During the same period, the European Union's currency supply also increased sharply, an increase of about 20%, that is, 2.5 trillion euros.

Cancellation of US trade war tariffs is gradually urgent

In the United States, the Bayeng government faces huge challenges, and the inflation rate of dual digits has begun to put pressure on ordinary families and enterprises. The mid -year election is imminent, and inflation will be the number one topic. How to avoid excessive contraction of monetary policy leads to economic recession and affect election is the biggest issue that makes Biden anxiety.

David Adelman, who had served as the Ambassador of the United States in Singapore during the Obama administration, said that the cancellation of tariffs on imported goods in China will reduce the inflation rate of the United States by 1%and restore people's confidence in the economy. This will help worship to worship Debut in the election to win. He believes, "this is an election strategy to alleviate the pressure of the US economy and the pressure of the United States. These pressures are caused by high tariffs levied by more than 370 billion US dollars per year."

According to the US Broadcasting Corporation's Financial Channel reports, with the intensification of inflation and recession, more and more economists, political observers, and analysts have called on the Bayeng government to reduce tariffs on trade in China. Former Treasury Minister Larismers responded to Adelman's comments on Sunday that the cancellation of tariffs on imported goods in China was a "correct approach".

China is the second largest economy in the world and has a large -scale market. It has played the role of "stabilizer" in the global industrial chain supply chain for a long time. China provides a steady stream of cheap products for the world, suppressing inflation from the supply side. Since 2010, the added value of China's manufacturing industry has ranked first in the world for 12 consecutive years. Many multinational companies have set up factories in China, thereby eliminating inflation pressure caused by factors such as rising wages. Since the 1990s, the dependence of imports in the US economy has continued to increase, and the amount of imported goods has increased by nearly 4 times from 1990 to 2020. However, the price index of imported goods has not increased. The annualized growth rate is only 0.5%.

According to calculations, in 2018, the United States provoked a trade dispute over China and imposed tariffs on Chinese transmission and American products worth hundreds of billions of dollars. As a result, each American households bear thousands of dollars each year. Adelman said in an interview that the tariffs imposed on China have become a "rotary dart" that hurts the US economy. In May, US Treasury Minister Jennite Yellen also stated at a press conference before the G7 Financial Minister Summit to support the cancellation of some tariffs to alleviate the pressure on high inflation caused by the US economy. She believes that the tariffs on trade war collected by Chinese goods are not only meaningless to solve the actual problems between the United States and China, but have caused huge harm to consumers and companies in the United States.

(Reporter reporter Wang Yanxinhong)

- END -