UNCTAD report: global economic growth is hard to exceed 1.6% next year
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According to Taiwan’s relevant personnel quoted the “Economic Dailyâ€, the association also proposed the creation of a new global currency to replace the main currency status of the US dollar in trade.
The United Nations Commission on Trade and Development said in the "Trade and Development Report 2009" that the unemployment rate continues to rise, the banking industry still has huge problem assets, and the lack of capital levels will continue to curb private consumption and investment in the foreseeable future. The overall economy continues to be weak. Although many financial indexes have rebounded this year, the UN Commission on Trade and Development reported that this is likely to be a “short-term rebound†in the decline of financial assets and commodities.
The United Nations Commission on Trade and Development is pessimistic about the global economic recovery than the International Monetary Fund (IMF). The IMF last week revised the global economic growth in 2010 from 2.5% to 3%. UNCTAD predicts that the global economy will shrink by 2.7% this year, and if the global economy grows next year, the central bank and the government will need to revitalize.
The report said that unless the banking industry completes restructuring capital and getting rid of the problem assets on the balance sheet, production, employment and income growth are difficult to recover; the government should continue or even strengthen expansionary monetary and fiscal policies, so next year's global economic growth. It is possible to turn positive, but it is still unlikely to exceed 1.6%.
The United Nations Committee on Trade and Development has always been cautious about the free market and advocates the independent development of developing countries. It also said in the report that in order to prevent the recurrence of the global financial and economic crisis, financial market regulation and supervision should be strengthened, and the international monetary and financial system should be reformed to reduce speculation and avoid serious trade imbalances.
The United Nations Commission on Trade and Development said that in order to protect emerging markets from the financial crisis, countries should create global preparatory banks, issue new global currencies to replace the dollar's position in international trade, and monitor member countries' currency exchange rates.
The report of the UN Commission on Trade and Development echoes the appeal of several emerging powers this year. The four emerging economies of China, India, Brazil and Russia have all proposed to replace the US dollar as a reserve currency with new currencies this year.