(Fighting against New Coronary Pneumonia) Records of the "epidemic" war: Zhang Yuyan: China will become the "stabilizer" of the global economic recession
China News Agency, Beijing, April 7 Telegram: Records of the war on "epidemic disease": Zhang Yuyan: China will become the "stabilizer" of the global economic recession
Author Li Xuefeng Xing Liyu
"The global economy has been in recession again after 2009, which is a high probability event." Recently, Zhang Yuyan, member of the National Committee of the Chinese People's Political Consultative Conference and director of the Institute of World Economy and Politics of the Chinese Academy of Social Sciences, said in an interview with a reporter from China News Service that after the outbreak, China The economy will be the first to achieve stability, and will act as a "stabilizer" and "step on the brakes" for the global economic recession.
Zhang Yuyan believes that the magnitude and duration of the global economic recession will largely depend on the country's response to the epidemic. The longer the epidemic lasts, the greater the impact will be. As far as the current situation is concerned, the global economy will face tremendous pressure in the short term; if countries take appropriate measures in a timely manner, they are still expected to recover by the end of the year.
At present, the epidemic is spreading rapidly around the world, and the European Union, the United States, and Japan have entered the emergency phase of epidemic prevention and control. Zhang Yuyan said that the impact of the epidemic on the world economy is most directly reflected in the rupture of the global value chain. Many enterprises have stopped production and production, a large number of orders have been cancelled, and new contracts are unsustainable, resulting in trade and investment between different economies being affected to varying degrees.
He pointed out that as an important link in the global industrial chain, China still faces pressure to resume work after the epidemic. At present, due to the influence of global trade and investment and upstream raw materials and intermediate suppliers, some enterprises have achieved "resumption of work", but it is difficult to achieve "full production", especially small and medium-sized enterprises are facing greater pressure.
But he also emphasized that for enterprises, "danger" and "opportunities" coexist. During the epidemic's control, digital economies such as online medical care, e-commerce, online office, and online education have achieved growth, and related industries have ushered in new development opportunities.
"The impact of the epidemic on the global economy also involves debt and currency issues." Zhang Yuyan said that recently, US President Trump signed the largest 2.2 trillion US dollar economic stimulus bill in US history. The injection of a large amount of liquid funds can be stabilized in the short term. The market, but in the medium to long term, will have a huge unknown impact on the US and even the global economy. Especially for the vast number of developing countries, we must be alert to currency and financial crises caused by currency mismatches.
Zhang Yuyan said that the current epidemic situation has been basically controlled in China, but the vigilance cannot be relaxed, and strict prevention and control must be continued. At the same time, he also emphasized that it is necessary to repair the domestic value chain as soon as possible. Under the background of relatively severe impacts on investment and exports, stimulate consumer confidence to boost market confidence and boost economic growth.
On March 26, Chinese President Xi Jinping pointed out at the G20 Leaders ’Special Summit on New Coronary Pneumonia that China will contribute to world economic stability.
In this regard, Zhang Yuyan said that in the face of the epidemic, China has adopted strict control measures and has paid a huge price to set an example and example for the world's epidemic prevention, provide experience, and embody the responsibility of great powers. As the world's second largest economy, China's long-term economic fundamentals have not changed, and it will act as a "stabilizer" and "step on the brakes" for the global economic recession.
"This epidemic is a common challenge facing mankind, affecting the economy of the entire world. The value of the community of human destiny is once again reflected, and it also objectively provides opportunities for the process of globalization." Zhang Yuyan said that countries can only strengthen cooperation. In order to overcome the difficulties together. (Finish)