Yifu Lin global infrastructure investment to address the challenges of the global economy – China Ne cashmere mafia

Yifu Lin: the "global infrastructure investment" to cope with global economic challenges – China news agency new network in October 14 Chongqing Xinhua (reporter Liu Xian Liu Xianglin) honorary president of the National Development Research Institute of Peking University Yifu Lin said in Chongqing on 14, the major challenges facing the global economy is how to recover from the global financial crisis in 2008, and the solution is "global infrastructure investment". Yifu Lin, a former chief economist at the world bank, made the remarks at the first plenary session of the 2016 Chinese Communist Party and the world dialogue. He cited data analysis, from the financial crisis in 2008 to the present 8 years, the developed countries have not yet fully recovered. The consensus of the international economic circles is that the developed countries must carry out structural reforms. But these structural reforms will reduce demand and reduce investment in the short term, and can not be implemented politically. Without the implementation of structural reforms, it is possible to spread protectionism, populism, etc.. Yifu Lin believes that in the past when the crisis occurred in the developed countries, prescription is to increase the export of currency devaluation, to create space for structural reforms. But the crisis is common in developed countries, and its products are similar. If a country’s currency devaluation increases exports, it will take away the market share of other developed countries, may lead to competitive devaluation. Yifu Lin therefore proposed to break the deadlock, to create space for structural reform program – Global Infrastructure investment. Investing in infrastructure can create jobs and increase demand in the short term, boosting growth in the long run. Old infrastructure in developed countries, there are still investment opportunities. And really good investment opportunities in developing countries. Asia’s infrastructure investment needs about $800 billion a year, about $500 billion in Africa, the world’s total demand of about $2 trillion. He further "accounts": each additional $1 investment in infrastructure in developing countries, will increase imports of $0.7, including $0.35 from the developed countries. Global infrastructure investment will increase the export of developed countries, to create structural reforms. China’s reform and opening up over the past 30 years from a poor country to become the world’s second largest economy, has a lot of experience for reference. Yifu Lin, based in Chongqing, China’s central and western cities, for example: the landlocked Province, which has invested in infrastructure, now sells its products to the world, and maintains more than 10% of its economic growth during the global economic downturn. The Communist Party of China has made many contributions to the innovation of the concept of global economic governance. Yifu Lin said, "China Belt and Road Initiative" initiative, infrastructure interoperability is the starting point. China has also proposed the establishment of the Asian infrastructure investment banks and other institutions to provide funds for infrastructure construction. Global infrastructure interoperability initiative, is one of the results of the G20 summit held in Hangzhou, china. (end)相关的主题文章: