Global economic growth dilemma during the epidemic period
April 06, 2022 08:40 Source: "China Social Sciences" April 6, 2022 Total Issue 2381 Author: Reporter Wang Junmei

The occurrence of the new crown pneumonia and its subsequent influence,Highlighting or even exacerbated the original gap of the development of the world economy。National goods and service exports decline、The financial market is tightened、Frequent accounts and capital accounts face pressure and other problems,Caused by the loss of many countries in the country。ESWAR PRASAD (ESWAR PRASAD) and the UN African Economic Commission Executive Secretary Vera Songwee believes,Now the economic recovery phase of the world's countries gradually enter the post -epidemic period,At the same time,The situation of unequal development between the wealthy economies。Our reporter ’s challenges faced by global economic growth during the epidemic period、Prospects and the role that China should play in it interviewed relevant scholars。

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From the perspective of the short -term recovery of global economy after the epidemic,Economy in different regions in the world has a very different growth prospect。October 2021,The Brookings Institution of the United States and the British "Financial Times" jointly released the "Global Economic Recovery Tracking Index"。Although the index states several reasons for global economic growth,But it also expresses bet365 best casino games concerns about hindrance to the global economy's extensive recovery。other,Some developed economies are in the bottleneck period of macroeconomic stimuli and supply chain,As a result, national inflation pressure in the United States and the euro zone rises。The Federal Reserve and the European Central Bank based on expected expectations that may not be controlled by inflation,has begun to consider taking more cautious measures。

Policy makers of countries around the world are facing important decision -making points,For example,Whether to further open the economy under the epidemic; when it is possible to cause long -term damage to the economy,Whether to add more macroeconomic stimulus measures to obtain short -term benefits。Plazard said,The uncertain policy will also affect the confidence of consumers and businesses of the weaker economies,Increase its economic pressure。Many countries not only face dilemma to maintain economic growth and control inflation,It is also necessary to withstand the impact of the broken supply chain at home and abroad。

Current,Policy makers in the world must first work hard to curb the spread of the new crown virus,This is still the basic challenge facing in the short term。Plazard said,From this dimension,,The inequality obtained by the vaccine also enlarge the development gap between different economies,and the later period of economic recovery, the economic development inequality and global economic differentiation。

  Highlight the necessity of improving global governance

bet365 best casino games There are obvious economic gaps between different countries and the gap is further expanding,It highlights the necessity of improving global governance。Sangwei thinks,This process is very complicated,The governance of multilateral institutions usually involves a game among the stakeholders。At present, many multilateral governance agencies do not keep pace with the times,No longer representative。When countries have common interests at the extensive level,but when involving specific reforms, they have to face the conflict of interest,Most countries will recognize the necessity of reforming existing multilateral governance agencies。Of course,This is the basis for the reform of multilateral governance institutions,But when the specific reforms involved in specific institutions,Different countries will still hold different opinions。Therefore,It is necessary to add the considerations of the stakeholders in the governance structure of multilateral institutions,instead of just carried out zero -crushed reform of some specific multilateral institutions。For example,Adopting negotiation to coordinate the interests of all parties,To better promote the reform of international organizations such as the World Trade Organization。

The current international financial system cannot be well served for emerging markets and developing economies。For example,Since the global financial crisis,,Some developed economies summarize experience Bet365 lotto review and learn lessons,Formulated a series of policy measures,And the emerging market and development economies are exposed under the spilling effect of macroeconomic policies in developed economies,This has become an important constraints for the establishment of domestic policies in emerging markets and developing economic systems。other,Economy and developing economies are often affected by capital flow and exchange rate fluctuations in other countries。Sangwei said,The occurrence of epidemic situation further highlights the necessity of establishing a global financial security network,In this way。Among them, it should include: develop a common regulatory and policy coordination framework to cope with capital flow and exchange rate fluctuations; create a long -lasting and trusted global financial security network; expand the use of digital technology,To enhance inclusive finance,Improve cross -border payment efficiency。

Global Economic and Financial Stability meets everyone's interests,But the formation of the global governance mechanism often involves collective action issues。Plastel and Sangwei suggestion,The creation of multilateral mechanisms must be fully coordinated to participate in the opinions of those related stakeholders in global governance,instead of being only rich、Powerful economy controls and seek benefits for it。Current,Policy makers of various countries have clearly realized that the world is interconnected,But now it should be implemented bet365 best casino games in action,Take specific measures to rewrite the rules of the game and re -construct the multilateral governance mechanism,Effectively ensure the connection between countries around the world and the prosperity of the economy of various countries。

  Promote the global economy from the epidemic

The World Bank divides countries around the world into four types according to income: high -income countries、Middle -high income country、low -income countries and low -income countries。According to the research by Plaosbad and others,between 1990-2020,The share of high -income countries in GDP has decreased from 84%to 63%,The share of low -income countries has increased significantly。From the perspective of the population,The global population share of low -income countries has increased by about 5 percentage points in the past 30 years,Low -income countries rose 4 percentage points。At the same time,Under the comprehensive effect of low fertility and other factors,The population ratio of high -income countries and medium -to -high -income countries has declined。other,Although the share of the country's population in the world has declined,But the share in global GDP is rising,This phenomenon is largely due to China's outstanding economic growth performance。

Amitrajeet A. Batabyal, a professor of economics at the School of Humanities, Robchest Institute of Technology,Since its implementation of reform and opening up,Through strengthening trade and humanistic exchanges bet365 live casino games with other countries,greatly changed the economic development model。Starting from the 1990s,China has gradually developed into a dynamic economy,and joined the World Trade Organization in 2001,Active participants in becoming a global market and value chain。Compared to capital and natural resources,China's labor supply is more sufficient,Therefore,China has a large comparative advantage in the field of manufacturing, especially labor -intensive commodity production。As China has gradually moved to liberalization with China's foreign trade,The export of its manufacturing industry has increased sharply。Driven by various economic policies,China has successfully developed rapidly from low -income countries to medium -to -high -income countries。

Bataobao thinks,China's success also shows to developing countries,In terms of eliminating poverty and achieving economic growth,Socialism with Chinese characteristics is a more desirable model than Western democracy。At the same time,China is through the "Belt and Road" initiative to expand its international influence,China's role played on the world stage is increasingly important。Although the occurrence of the epidemic has a impact on the Chinese economy,But the Organization of Economic Cooperation and Development has issued a report for predictions,China's economy will increase by 5.8% in 2022,To be higher than the level of global economic growth。Many people think,China is more likely to promote bet365 Play online games the global economy from the epidemic。

Editor in charge: Chen Jing
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