World Economy

At a Conference in Beijing, Robert Zoellick spoke about the situation of the economy worldwide. At a Conference in Beijing, Robert Zoellick spoke about the situation of the economy worldwide. Robert Zoellick is the head of the World Bank and commented on the charge in Europe, China and the United States expressed a gloomy forecast for the autumn of this year. The of China of head of the World Bank expects to a very solid position on a global scale. A role as one of the driving engines for global economic growth in the country generally is regarded as second-largest economy. In the next 15 to 20 years this position can improve significantly and China could in this time close to its pioneers. However, Zoellick is also to bear in mind that China can maintain its export and investment-based growth strategies. He speaks, however, by major challenges, that has the country in the next two decades before him and which must be dealt with.

A central role is the rise in wage levels, which was a positive development represents, but stirs up the competition to countries with lower wages. “Compared with the situation in Europe, Zoellick is also very clear words: the financial crisis in Europe has to a sovereign debt crisis, with serious implications for the Monetary Union, banks and the competitiveness of some countries.” he said at the Conference. The European Community must find a solution to its debt crisis, otherwise the persistently poor situation would continue cooling down the economy. He wrote some serious tasks also the United States, also suffering from debt problems. These are no longer as acute since the increase in the debt ceiling, but nevertheless the presence weakens the confidence on the financial markets. The policy must occur therefore more persuasive; concretely, Zoellick speaks of a tax reform that would be needed in the States to strengthen the economy.

In sight of these tasks, Zoellick paints a gloomy picture for the current global economic situation. So you control to again in the autumn to a danger zone, in which there could be a new crisis for the global economy. Therefore, the leading Nations and State communities must stop their economic urgently poker.

This entry was posted in Uncategorized and tagged , . Bookmark the permalink.

Comments are closed.