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FT Chinese Network: U.S. economy is clearly not the euro zone economy so bad, but not very good, your outlook on the U.S. economic recovery to see how?
Gepinate: Yes and no. Some people have a view, if there is no single currency, Spain, Portugal, Greece and other countries may be able to let its currency depreciate, this may be a means to promote recovery. Typically,polo ralph lauren, a country can use monetary policy to respond to the economic downturn. But the choice of these countries is clearly limited, because of some euro area countries to better economic performance, such as Germany. Therefore,abercrombie and fitch paris, the ECB wants to maintain the euro exchange rate is obviously to take some intermediate value, rather than to meet the needs of those countries in crisis.
However, despite this, I have some research on this issue also shows that, in addition to adjusting the exchange rate, is in fact the euro area, there are other policy tools to choose from,abercrombie france, and adjust the exchange rate to achieve the same the effect. For example, certain taxes or subsidies, can achieve the same purpose, such as raising VAT to cut some government subsidies, these So I think, the single currency while limiting their choices, but choose not exhaustive.
FT Chinese Network: Wen Jiabao's speech at the forum,abercrombie, said China could help the European relief,ralph lauren, how do you think China can do?
FT Chinese networks: It is reported that Italy would like China to buy its bonds,moncler, to buy or do you think China should not?
FT Chinese networks: the current poor economic conditions in the euro area, in the world economy
global macroeconomic topics as the mainstream of the Fifth Summer Davos debt crisis in Europe and the second bottom become words.
Gepinate: I think the Even if the economy is not recession (defined as the negative economic growth), the euro zone economy may be a prolonged slump. However, recent data show that there are some signs of recovery in the U.S. economy, some of the growth opportunities are being created, which slightly reassuring. So I think the end result may not be negative growth,doudoune moncler, but other large euro zone economies may be a long time to maintain near-zero growth rate.
Gepinate: (laughs) Now the situation is that the U.S. Treasury, everyone wanted to buy, for Italian government bonds, all do not want to buy. If China is willing to do other market participants do not want to do, take a great risk to lend money to Italy, it is a matter of China. However, this risk is comparable U.S. Treasury bonds is much higher.
FT Chinese network: Do you think the European single currency system of the euro zone debt crisis is one of the incentives?
euro crisis to go? Can China save Europe? FT Chinese network Davos gap interviewed Indian economist, a professor of economics at Harvard University 吉塔戈皮纳 special (Gita Gopinath), her research interests are in the national economy and trade. She said the FT Chinese network, China is no longer emerging countries, which means that China is facing more challenging situations. The following is the FT's interview with her Chinese network Record.
FT Chinese network: you raise taxes, subsidies and advice,ralph lauren pas cher, should be implemented by the entire euro area, or individual countries to implement?
Gepinate: I mean, it should be by those who are trapped in the quagmire of national implementation in the country. Because these measures is to achieve the same kind of currency depreciation and the effect, so that their products relative to other countries more competitive. Therefore,abercormbie paris, these tax policies must be implemented by the country-specific, not program in all of Europe.
Gepinate: (laughs) Actually, I would hope that Premier Wen Jiabao to answer this question, because the people of Italy, including China's specific will all want to know how to do. If China decides to huge financial reserves some of these markets, low interest loan or direct investment in these markets, these markets will help both the recovery. But I think, for the euro zone, China and other countries are bound to cherish the same concerns. I do not know what the Chinese have reason to change the views of the European market. However, Wen said China and the EU will hold a summit, perhaps to some of the message will.
Gepinate: I am optimistic about the future. U.S. economy is very strong, has many unique advantages. Financial crisis reduced the growth rate of the U.S. economy some, but I strongly believe that only one or two years time, will revitalize the U.S. economy. For now,abercrombie and fitch, I think the U.S. will not step Japan has followed the emergence of up to a decade of stagnation.
