World Bank warns that European debt crisis poses significant risks to Asian economies

On October 8th, the Chinese online edition of The Wall Street Journal published an article entitled "The World Bank: The European Debt Crisis Brings Major Risks to Asian Economies", which is summarized as follows: The World Bank lowered its development in East Asia on October 8. The economy's economic growth expectations, and warned that the risk of more than one country exiting the euro zone may pull East Asian developing economies' economic growth rate lower by more than two percentage points next year. The World Bank estimates that the economic growth rate of East Asian developing economies will reach 7.2% in 2012, down from the 7.6% expected in May; the bank expects the region's economic growth rate in 2013 to reach 7.6%, which is also lower than the original. Expected 8.0%. An important reason for lowering East Asian growth expectations is that the World Bank has lowered its expectations for China's economy, as limited policy easing measures, a correction in the real estate market and a downturn in external demand are all dragging down the Chinese economy. The bank currently expects China's economy to grow by 7.7% in 2012 and 8.1% in 2013. According to the World Bank, most developing economies in East Asia have good conditions to cope with the Eurozone crisis and the more depressed global demand. Once the external economy is severely slowed, these economies have room to relax their policies and implement fiscal stimulus policies. Enough space. The World Bank also pointed out that these economies have sufficient foreign exchange reserves and are less dependent on European banks and wholesale financing. However, at the press conference on the 8th, Bert Hoffman, chief economist of the World Bank's East Asia and Pacific region, stressed the importance of consolidating the social security network and preparing for economic growth. Hoffman said that fiscal stimulus measures will not fall from the sky, countries must prepare programs and projects so that they can be implemented when needed; therefore, it is very important to continue to plan ahead and ensure that the country can boost the economy when the crisis breaks out. Program. Hoffman stressed that despite the uncertainty of the economic situation, the narrowing of interest margins and the significant decline in the effectiveness of monetary stimulus measures in developed countries, factors such as the large-scale inflow of capital into East Asian developing economies will be reduced. There is still a need to monitor capital flows and ensure that credit growth is not out of control. The World Bank believes that countries that rely on commodity exports may be particularly vulnerable to the global economic slowdown. The impact on Indonesia and Malaysia may be smaller, as falling oil prices will ease the subsidy burden on these countries, but the two countries may still be affected by falling prices of other commodities. The bank also pointed out that if the US Congress fails to reach other plans to replace the fiscal measures that will automatically take effect at the end of the year, the United States may be able to tighten its fiscal force, which also poses risks to East Asian developing economies. According to the definition of the World Bank, East Asian developing economies include Cambodia, China, East Timor, Indonesia, Laos, Malaysia, Mongolia, Papua New Guinea, the Philippines, Thailand, Vietnam and the Pacific Island economies.

Furniture Drawer Slide

Special production is available for other drawer slide systems slide lengths

Furniture Drawer Slide,Drawer Slides Rail,Drawer Rails Slides,Ball Bearing Drawer Slides

ChongQing Troya Hardware Manufacture Co., Ltd , https://www.cqtroya.com