To solve the world problem is not the single country prescriptions, which the International Monetary Fund (IMF), president of Kahn s latest assertion.
Full participation of the IMF and the World Bank after 2010, cooperation among countries in the annual meeting will decline, the recovery increased downside risks, the exchange rate of friction, uneven development and other issues have become a high frequency words and discussion questions. But to find a solution to these problems side, will probably take more in tune with the pace of global coordination to control them.
Reduced willingness to cooperate
New York Times will be held on the date of the reference to the Kahn s this to say: Although the world has not disappeared willingness to cooperate, but has been reduced, this is a real threat, because we all have to bear in mind to resolve the international crisis did not country recipe.
IMF chief economist, said Blanchard, the current coordination and cooperation around the world than during the worst of the more critical. Charles Brown announced in the autumn of 6 IMF World Economic Outlook report of the conference made the remarks. At the conference, answering a reporter s question in Xiaer Brown pointed out that the current international economic situation in the existence of multiple uncertainties, the economic recovery downside risks remain in the background, the countries should concentric to meet common challenges.
Downside risks facing the recovery
In the annual meeting, not only from the world s central banks and senior officials of the Ministry of Finance, private sector executives, experts and scholars at the conference under the world economic situation will be a detailed discussion, IMF announced the world Economic Outlook and other reports is the focus of global concern.
Two major international economic institutions in spring and autumn will be released before the annual meeting of the World Economic Outlook, a series of influential reports. However, spring and autumn, the reporter found that the wording of this report is a different place, showing that the world economy in the six months the emergence of new trends. This spring, World Economic Outlook report, the debt crisis of the Greek sovereign debt could trigger a global crisis facing the world economy as one of the main risks, the report noted that the progress of the global recovery better than expected; outlook for economic activity is still not unusual OK, despite all the risks have receded; in the advanced economies, the United States than in Europe and Japan welcomed the better start; most emerging and developing economies, the pace of recovery in the solid; currency market has stabilized.
The fall of the World Economic Outlook, is that the global economy is recovering, but the downside risk is still high; the U.S. economy began to slow down the pace of recovery, consumers face high debt and the impact of wealth, even though monetary policy has been very relaxed, but subject to the high unemployment rate, U.S. credit growth is still slow, the public finances may deteriorate further; Although the performance of emerging Asian economies now outstanding, but economic growth in the short term downside risk is still partial, mainly by the external environment is not uncertainties, both the U.S. and euro zone economic recovery may be slowing, but also the unexpected turmoil in financial markets outside of emerging economies in Asia may be an impact.
Compared the two can be seen, although the Asian and other emerging markets is still the highlight of the report, but the fall in many places the wording of the report of an accent. After all, some of the existing problems have not completely solved, new problems have emerged in the weaving.
Beware of the exchange rate of friction
Before the convening of the annual meeting, some countries have their own way in the practice of exchange rate policy triggered a global concern, the annual meeting has become a major focus of media questions and concerns.
British Financial Times quoted a World Bank President Robert Zoellick s words, countries for the exchange rate policy intervention will increase friction, this friction will lead to trade protectionism spark, this is not an ideal situation. Zoellick believes that the exchange rate issue is not a panacea, the world can not just be limited to the exchange rate, regardless of economic growth and restructuring, long term problems. He pointed out that the economic downturn has increased the Exchange Rate Friction risk, but the world should immediately control the Exchange Rate Friction fire, if the harness properly, will bring big trouble to the world.
In the annual meeting of a number of different occasions, officials and scholars have talked about the imbalance in world economic development. Attend annual meeting of the two senior Chinese officials told reporters that, to a dynamic and comprehensive perspective on the issue, not confined to one country private.
However, there is still uncertain prospects of economic recovery, high unemployment rate in the developed countries to bring the background of increasing domestic political pressure, countries can not use stop gap in the short sighted vision to solve the economic globalization challenges. How inclusive and forward looking approach to win win strategy, a test of world leaders the wisdom and execution of a difficult problem.
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