2009 is the will be created by government intervention, a European and American broke again to release the future development of the financial crisis and the uncertainty generated by the development of world economy, the growing negative impact of this clear signal, if the Government do nothing, then the market in this once in a century financial crisis The impact will continue to be to create a insolvency caused by the turmoil in capital markets to the present global liquidity panic caused by the overall private investment and consumption decline, are constantly told us that the alarm sounded: this financial crisis caused by the abuse of innovation , the development of economic imbalances in the world today, has been greatly weakened the market City time and the ability to rescue the crisis will directly affect the convergence rate of the recovery in overall economic development and harmony of the world. So, we see governments bailout policies come and go, and extract from the help the market changes in monetary policy, the government decided to promote the consumption and investment in direct finance policy, and that this wave of bailout policies launched wave, a wave higher than the wave (or even a pattern of competition: Who the cards over, who will lose the trust of the community to bring the next higher bailout costs). Even the new U.S. government took the Obama rescue the Republican Party changed the idea of adding the current government-led rescue and promote economic development wave, rather than the concept of compliance over the last Republican government bailout policies mm only deregulation, timely injection of liquidity, ability to help the market recover resources, and only through market interest rates or tax breaks and other self-help capacity of repair practices, national interference can be truly out of the crisis, re-raise hopes of economic recovery.
at least in the emerging China's stock market today, spending plans and specific programs, so that we see the excess capacity of enterprises and restructuring costs of digestion has been greatly improved. the U.S. government is also reforming the United States through the core competitiveness of the large financial expenditure plans to activate its own job market and industrial production, the British Government In order to make their economies as quickly as possible out of the current into the history of the worst of the crisis, through the positive fiscal policy to stimulate the industrial chain is very long recovery in the automotive industry. And all of the effects of policies that governments in crisis The most precious desire rescue philosophy still want to cut interest rates and lower the deposit reserve ratio and other measures to help banks, businesses and individuals burdens (fiscal policy mainly through tax cuts to cope with the effects of monetary policy), so by restoring the vitality of the market to restore its own investment, employment and consumption. but did not expect is that the , the bank's worse. Thus, the present governments are aware of the country out of economic crisis, the passive situation. particularly China, the world economy is considered to be the most emboldened to become one of the countries to maintain high growth (IMF officials also believe that in today's global era of low growth, China is still the possibility of preserving 8 exist).
2009 in all countries the government changed the monetary policy over the past passive way to rescue the market, and the common use of active fiscal policy to reflect This is understandable, but very necessary. But we still have to pay attention to within the Council to form the conscious and unconscious patterns of trade and financial protectionism. because the government is using taxpayer money their own country, very much hope that the money be able to immediately bring their own employment, production and consumption effects of the recovery, there it will take some time to supporting protectionist measures to rescue the financial results expected appear more dramatic. and even this may sometimes meet the protectionist practices of multinational companies in their own interests and needs of financial institutions. the most protectionist practices that may occur is that some governments will care about, it appears that the international balance of payments, in fact, demanding When the Government in a weak euro, increased technology in the European market and high value-added products is also a response to the purchasing behavior of a responsible trade protectionism, positive attitude. In fact, the world economic imbalances that occur under the financial crisis only through more effective economic and financial cooperation can be effective as soon as possible and get rid of.
Second, support the Government's fiscal policy will also affect the means of financing the implementation of rescue effect. If the Government's fiscal policy to expand, both through loose monetary policy (such as increasing money supply, etc.) to be achieved, then the inflationary pressures will inhibit the future vitality of the market, but can not play through government intervention to restore market price signals, thereby activating the market's own allocation of resources dynamic role. On the other hand, the Government through the banking system to absorb the costs, then the Government should pay special attention to the effect of the policy, otherwise, no bank has played an effective alternative to the effect of allocation of resources, then, it will result in their banking system Since resources are occupied too much and lost their comparative advantage in allocating resources and initiative, as soon as possible on the economy's recovery is also a disadvantage. So, today, in times of crisis, government spending can not be generated out of the civil economy effect can not occur the country back into the market structure, how many more channels in financing some would be better.
Third, the Government's fiscal policy can not just play the role of blood transfusion on the market, but more crucial is to produce market hematopoiesis. Otherwise, employment expansion and the effect of increased industrial production will be limited of but also not sustainable. Although the government sector in the real economy, any investment will have some employment Kuoda effect to the relevant enterprises investment opportunities, but it may not be able to improve the business environment for investment and personal consumption ability to use well, but will increase the problem of moral hazard the enterprise (as long as big business, as long as my chain long enough, the Government will focus on my business, even if I should not be involved in a financial investment, even if I am an irresponsible expansion of production capacity), reduced the overall market's ability to withstand external shocks (Japanese companies after the collapse of the bubble economy a large extent, improved their inventory management capabilities, so as long as the external market activity recovery, the recovery of their profits will be very clear, on the contrary, our business in the (For example, to get the government's financial support and projects commissioned between business leaders will be asked through the back door, the local government would Although the present bailout policies is essential, but should be temporary, but the main market dynamics in order to achieve the goal of rehabilitation.
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