日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

   

Greenspan sees dramatic drop in Chinese stocks

(Reuters)
Updated: 2007-05-24 09:11


Former Chairman of the Federal Reserve Alan Greenspan (L) and U.S. Treasury Secretary Henry Paulson attend the Conference on U.S. Capital Market Competitiveness in Washington March 13, 2007. [Reuters]

Former U.S. Federal Reserve Chairman Alan Greenspan said on Wednesday he feared a "dramatic contraction" in Chinese stocks but said the global economy may be able to shrug off a drop in asset prices.

Addressing a meeting in Madrid via teleconference, Greenspan said the recent boom in Chinese stocks could not last.

"It is clearly unsustainable," he said "There's going to be a dramatic contraction at some point."

The main Shanghai index has nearly tripled in past year and is up 56 percent so far in 2007.

Greenspan also said a correction could cause problems for Chinese personal wealth. Some analysts have speculated that the Chinese government could be tempted to dip into its reserves to bail out any stung investors and avoid social unrest.

Greenspan, who stepped down as Fed governor last year, said cheap Chinese imports were one of the elements stoking world growth, along with Eastern European workers and the knock-on effects on lower inflation and rates.

"In the last five years, the world as a whole is a growing faster than at any time in the world's history," he said. "It can't last and it won't last because it's a one-shot adjustment."

Greenspan said asset prices around the world could fall but that the economy may escape unscathed if it were flexible enough to absorb asset price shocks.

"We will get major declines in certain levels but it need not feed back significantly to levels of employment or the real economy," he said.

Earlier this month, Greenspan reiterated that he believed there was a one-third chance the U.S. economy, the world's largest, would slip into recession this year.

On Wednesday, he said the United States had no problem financing its current account deficit.

"I am ... not particularly concerned about the current account deficit per se. I think that is essentially a market force," he said, adding that the budget deficit worried him more.

Asked about oil prices, which rose strongly last year and were around $70 a barrel on Wednesday, Greenspan said: "The problem of crude oil is not that we're peaking or running out of oil, we're not, the problem of oil is access."

He saw difficulties ahead for world energy markets over coming years if geopolitical issues continued to plague major suppliers and investment remained at insufficient levels.


(For more biz stories, please visit Industry Updates)



主站蜘蛛池模板: 亚洲色欲色欲www | 毛片在线观看视频 | 洗濯屋在线观看 | 国产精品二| 99免费在线观看 | 亚洲综合婷婷 | 99视频+国产日韩欧美 | 国产精品久久网站 | 日韩av手机在线免费观看 | 日韩欧美天堂 | 香蕉精品视频在线观看 | 成人免费看 | 亚洲小视频在线播放 | 国产日| 日本国产高清 | 日本中文字幕在线观看 | 91精品一区二区 | 欧美成人小视频 | 岛国av网站 | 天堂久久网 | 黄色免费网页 | 欧美顶级毛片在线播放 | 综合婷婷 | 日韩精品手机在线 | 欧美日韩中文字幕在线 | 天天干天天做 | 99国产精品99 | 91亚洲天堂 | 午夜在线观看视频网站 | 精久久久久久久 | 亚洲永久| 日本动漫大尺度 | 日本中文在线 | 国产美女www爽爽爽 日韩专区一区 | 欧美激情一区二区三区四区 | 亚洲三级视频 | 福利片国产 | 毛片毛片毛片毛片毛片 | 国产午夜伦理 | 亚洲女优av | 爱情岛论坛亚洲自拍 |