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发表于 2014-2-14 21:21
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[Homework]2014-02-09&02-11 IMF总裁警告全球经济:改革未完成 复苏面临风险
I am very happy that growth is consolidating, and is uneven, it's imbalance, is not as good as it should be and something not as good to creat of jobs, but it's back and that's good. We are simplely saying that we still have work to do, and still risks on the horizon, One of the risks is potential deflation.
If you are fight, deflation is a far worse rist than inflation.
Yes, is far worse rist because it's very difficult to put it back into the bottle if you will. Once deflation is out, economists are hard pressed to find ways to get out the deflation as Japan is trying to do it at the moment after the ten years of deflation.
If we have already got this vast menetary stimulus, and quantitative easing, and lowing interest rates, and we still worry about deflation. What do you want to call our government to do?
First of all, the centry banks should continue to do sensible, reasonable, accommodative monetary policy. They need not tightening too quickly, and they need to let liquidity in the system so that, you know, money flows.
Second, the bank balance sheet, you know, have to be solid and that has to be tested which will likely happening in 2014. So that banks can actually lend to the economy, and investments can be made, job created and on, and on.
This is all assuming we don't all become complacent, do you warn about complacency? (Yeah) are you seeing complacency out there yet?
For the moment, I think policy makers are sensible, they have a mix of sensible fiscal policy, not too much authority, yet consolidation, growth friendly policies, ok, more of it, where we have to see them being on the job is structural reforms, that they have to do, More and in most places around the world, advanced economies and developing countries as well.
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