Apec Meeting With The World Economic Hardship

Nineteenth APEC informal leadership meeting about the capital of Honolulu, Hawaii, USA opened. In view of the weakness in global economic recovery, the debt crisis-ridden United States and Europe held under the background, so the extra attention.

It is expected that APEC for the global economy out of a recipe out of the predicament, but also hope to lead the world in the Asia-Pacific region to play a greater role in economic recovery.

Feel the pulse of the global economic difficulties

The convening of this summit when the global economic recovery at a crossroads: the developed economies, a significant slowdown in the recovery process, there is real risk of second bottom, how to eliminate the uncertainty of the world economy is like an intricate puzzle, troubled economists and world leaders.

As the world's economic locomotive, economic recovery in the United States in perpetuity. Not only employment, housing market, long-term slump, once power is also leading the recovery in the manufacturing sector weakened. Consumer confidence in the unstable, high deficit levels and the fierce partisan but also to the Government in formulating economic stimulus policy dilemma. Many economists believe the U.S. economic recovery will be long and difficult process.

According to the U.S. Federal Reserve Board recently released survey of the economic situation, although the overall U.S. economic activity continued to expand, but the future prospects of the overall weakening of business conditions, the economic outlook more bleak.

In the Atlantic, Europe is still struggling with the debt problem. Greece has not yet been resolved, Italy has become common knowledge. Sold to Italian investors crazy 10-year Treasury yields close to 7% risk level. If the debt crisis intensified, the EU will not only further drag on economic growth, and even the danger of collapse will make the euro area, giving a mortal blow to the European integration process.

Organization for Economic Cooperation and Development released a report on October 31, will cut its forecast for eurozone growth this year to 1.6% economic growth next year is expected to significantly reduced from 2% to 0.3%.

World Bank President Robert Zoellick said the world economy is entering a "new danger zone." In his view, the main challenges facing the United States is to improve the financial position of the long-term sustainability, reducing public debt and stimulate the economy long-term development, while the euro zone economies face major challenges in sovereign debt and banking issues such as lack of capacity to resist risks . Zoellick warned that some new risks, including political risk in some countries, the Greek sovereign debt restructuring frustration, lack of banking liquidity will lead to fluctuations in market confidence, the impact of the euro area and global economic recovery.