defure-taisaku (deflation measure) in japan is a decade issue, representing
crisis starting more than decade ago. may the world learn and act swiftly from
the experience to cope with current situation, keep the global economic growth.
--- On Sun, 7/19/09, Elaine Sui <elainesu...@gmail.com> wrote:
From: Elaine Sui <elainesu...@gmail.com>
Subject: Re: [ob] World Bank: Global Economy Faces Deflation
To: obrolan-bandar@yahoogroups.com
Date: Sunday, July 19, 2009, 4:19 AM
When I said this, you didn't (want to) believe me, did you..
Elaine
World Bank: Global Economy Faces Deflation
Friday, July 17, 2009 8:53 AM
By: Julie Crawshaw
A
The World Bank has given warning that the global economy will fall into a
"deflationary spiral" unless urgent action is taken to reduce high levels of
excess capacity in industry, Ambrose Evans-Pritchard reported in the UK
Telegraph.
Justin Lin, the bank’s chief economist, said factories running idle around
world threaten to trap economies in a vicious cycle, risking further spasms of
financial stress that require more rescue packages.
"No country can count on currency depreciation and exports as a way out of
recession. Unless we deal with excess capacity, it will wreak havoc on all
countries,” Lin said.
“There is urgent need for global coordinated fiscal stimulus,” with investments
being focused on infrastructure in poor countries that are bearing the brunt of
the global crisis, he said.
Lin’s comments came as the Bank of Japan agreed to extend its quantitative
easing (QE) policies — mostly the purchase of corporate debt — and warned that
business investment is "declining sharply.”
Powerful deflationary headwinds already have created deflation in Japan,
leading the International Monetary Fund to say that the Japanese government and
central bank should be ready to provide additional stimulus measures should
global demand fail to improve enough to support a recovery.
“There are downside risks, particularly if export demand continues to remain
weak and unemployment starts to weaken consumption further,” Jim Gordon, the
IMF mission chief to Japan, told Bloomberg. “This emphasizes the importance of
monetary policy, fiscal policy and financial sector policy to remain supportive
with additional measures” if the outlook deteriorates.
© 2009 Newsmax. All rights reserved.
On Fri, Jul 17, 2009 at 8:26 PM, er_edwjy <er_ed...@yahoo.com> wrote:
http://moneynews.newsmax.com/streettalk/deflation/2009/07/17/236865.html
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