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

US EUROPE AFRICA ASIA 中文
Business / Economy

Lin: Recession risks rising in Europe

By FU JING (China Daily) Updated: 2014-09-10 07:56

Lin: Recession risks rising in Europe

Chinese economist Justin Yifu Lin delivers a speech after recieving an honorary doctorate awarded by the Vlerick Business School and the Catholic University of Leuven in Belgium on Monday evening. [Photo provided to chinadaily.com.cn]

More structural reforms necessary to avert crisis, says top economist

Europe now faces the risk of another recession, its third since the global economic crisis of 2008-09, and such a development would lead to a fall in exports and investment from China to the region, said former World Bank chief economist Justin Yifu Lin.

"The risk cannot be removed right now as the European Union (especially the eurozone) has not come up with the requisite structural reforms to improve its competitiveness," Lin, a leading adviser to the Chinese government and professor at Peking University, told China Daily in Brussels.

Lin was awarded an honorary doctorate by the Vlerick Business School and the Catholic University of Leuven in Belgium on Monday evening in recognition of his standing as one of China's top economists.

Lin's concern came after the eurozone's real GDP, according to the European Central Bank, remained unchanged in the second quarter of this year compared with the previous quarter. It also followed Germany and Italy reporting GDP declines by 0.2 percent in the second quarter, compared with the first quarter of this year.

The European economy has already experienced two recessions-in 2008-09 and 2010-11. To help wake up the economy, the European Central Bank cut its interest rate further last week, and consequently the exchange rate of the euro against the yuan fell to a new low of 7.95 on Monday compared with 8.68 on May 8.

Lin said the further depreciation of the euro, as a result of the loose monetary policies, would help boost exports from the EU.

However, the eurozone's competitiveness, according to the traditional formula used by multilateral lending institutions like the International Monetary Fund, should be a result of further structural reforms. Financial and debt crises, do not have their own currency. So if one were to use the conventional definitions it means currency deprecation in the entire eurozone," he said.

"If the eurozone currency depreciates further, this would cause a 'competitive depreciation of the dollar', which is something that the global economy is not prepared for," Lin said.

Lin's views on economic prospects within the EU found support from Duncan Freeman, a senior research fellow of the Brussels Institute of Contemporary China Studies.

Freeman said the eurozone is struggling to maintain growth, and recent figures show that it has been very poor or nonexistent.

"There is a real danger that growth will slip into negative territory," said Freeman.

Lin: Recession risks rising in Europe Lin: Recession risks rising in Europe
  Premier Li to attend Summer Davos forum
Vice Premier stresses financial services to support real economy

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 欧美成人精品欧美一级私黄 | 依人在线 | 亚洲精品国产免费 | 色女av| 可以免费在线观看的av | 欧美一级特黄视频 | 成人超碰在线 | 毛片在线观看视频 | 激情噜噜| 夫绿帽中文字幕日本 | 国产午夜精品久久久久 | 国产成人高清在线 | 高清亚洲 | 91精品免费 | 婷婷丁香激情 | 成人性生交大片免费 | 天天干天天操天天射 | 亚洲网在线观看 | 亚洲毛片网站 | 国产精品1234区| 97久久久 | 极品闺蜜苏姨小说阅读 | 波多野结衣中文字幕一区二区 | 免费又黄又爽又色的视频 | 欧美日韩久久久久久 | 欧美日韩综合视频 | 亚洲一级黄色大片 | 久久夜视频 | 久久亚洲精品小早川怜子66 | 日本在线观看中文字幕 | 婷婷色在线 | 欧美日韩一级在线 | 91在线精品观看 | 18岁成人在线观看 | 在线观看视频亚洲 | 国产一级片在线播放 | 网站在线播放 | 欧美日韩中文字幕在线视频 | 久操av在线 | 日韩在线二区 | 激情婷婷色 |