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Subtitle:
By：Wang Luolin, Zhang Yuyan
Publisher：Social Sciences Academic Press
ISBN：978-7-5097-4058-3
Publication Date：2012-12-24
Language：Chinese
The world economy slowed in 2012. The advanced economies are experiencing serious economic and social problems such as high unemployment, high level debt, little room for traditional fiscal and monetary policies. The increasing retiree of baby boomer will further the deterioration of the aging problem. The recovering of the US and Japanese economy becomes slower, and the Euro Zone is suffering a negative growth. Due to a sharp decline of external demand and painful domestic economic adjustment, some major emerging markets and developing economies also experienced economic slowdown.
The further of global economy is also complicated by the sluggish world trade, mounting protectionism, and volatile commodity prices, unconventional monetary policies helped to boost the stock markets but increased its potential risks. There are limited progresses on the reform of global governance, as well as regional economic integration. In 2013, the outlook of world economy is shadowed by risk factors like the “fiscal cliff” in the US, the worsening of Europe debt crisis, excessive liquidity, trade protectionism, as well as regional tensions on security issues. The moderate and slow growth of the global economy will become a new normal.
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