(Fighting New Crown Pneumonia) Global War Epidemic: World Joins Hands to Defend Economy

China News Agency, Beijing, March 9 (Bo Wenwen) The new crown pneumonia epidemic not only tests the ability of countries around the world to respond to major public health emergencies, but also a powerful test for the world economy. Faced with an epidemic that has spread to more than 100 countries and regions around the world, many international organizations and countries have actively taken action to jointly address this challenge of defending the world economy.

The Finance Minister of the Group of Twenty (G20) and the Governor of the Central Bank issued a joint statement on the evening of the 6th, promising to take appropriate fiscal and monetary measures to help deal with the new crown pneumonia epidemic, protect economic growth from shocks and maintain the flexibility of the financial system. The statement also emphasized the need for cooperation, saying it would share information and work with international agencies to develop response plans.

The Group of Seven (G7) finance ministers and central bank governors issued a joint statement on the 3rd, saying that given the potential impact of the new crown pneumonia epidemic on the global economy, "all appropriate policy tools" will be used to achieve strong and sustainable growth, and Prevent economic downside risks.

The International Monetary Fund (IMF) President Georgiyeva and the World Bank President Malpas issued a joint statement on the 2nd that the IMF and the World Bank are actively cooperating with international institutions and members to "use as much as possible" emergency financing Existing tools such as policy advice and technical assistance help members to cope with the epidemic, especially the rapid financing loans can help countries respond to a wide range of needs.

At the same time, central banks of many countries have recently announced interest rate cuts to buffer the impact of the epidemic on the economy.

The Federal Reserve lowered the target range of the federal funds rate by 50 basis points on the 3rd. Fed Chairman Powell said at a press conference after the interest rate cut that the fundamentals of the US economy are still strong, but the Fed has seen the emotional impact of the epidemic on tourism, the hotel industry, and manufacturers that rely on foreign supply chains.

In addition to the Federal Reserve, the central banks of Australia, Malaysia, Saudi Arabia, and the United Arab Emirates also announced interest rate cuts on the same day. The next day, the Bank of Canada announced interest rate cuts and said that the outbreak has had a significant negative impact on the outlook for Canada and the global economy, and monetary and fiscal authorities are responding.

As the second largest economy in the world, in addition to China's extensive epidemic prevention and control, China's economic measures have also been recognized by the outside world.

Georgieva said recently that the Chinese government is working to reduce the negative impact of the epidemic on the economy through crisis response measures, liquidity supply, fiscal policy and financial support. With the effective prevention and control of the epidemic by the above-mentioned policies and measures, the Chinese economy will return to normal in the second quarter, and the global economy may be less affected in the future and the duration may be shorter.

According to the Brazilian foreign trade industry media, while fighting the new crown pneumonia epidemic, all industries in China are working hard to gradually resume work and production to minimize the impact of the epidemic on the economy. Chinese leaders are coordinating national efforts, including strengthening the supervision of macroeconomic policies, ensuring employment, continuing poverty reduction tasks, and maintaining stability in foreign trade and investment.

The article argues that China ’s socio-economic measures under the epidemic have injected momentum into the global economy. The actions of "World Factory" and "World Market" will activate the global industry chain, alleviate the pressure on the world economy, and safeguard the common interests of the international community.

The Financial Times reported that after the New Crown epidemic caused production to stop, China, the world ’s second largest economy, is working hard to resume work: China ’s large factories have taken workers back to the factory, and the government has used planes, trains and buses to send people back to work . China has classified all parts of the country by risk level, allowing healthy workers in safe areas to return to work.

Apple CEO Tim Cook said in an interview with US media recently that China is controlling the spread of the epidemic and new cases are falling day by day. He is very optimistic about this and is glad to see that China's supply chain has been restored. jobs. Apple's stores in China are gradually reopening, and Apple's mobile phone factory is returning to work.

Reuters reports that analysts believe that as China's epidemic is gradually controlled and enterprises resume work and orderly progress, the suppressed demand under the epidemic will be released intensively. At the same time that production is expanded, investment, consumption and exports will also gradually progress. Recovery. (Finish)