Arab Today, arab today global economy still stumbling as us europe constantly miss targets to heal ills
Last Updated : GMT 17:50:45
Arab Today, arab today
Arab Today, arab today

Global economy still stumbling as U.S., Europe constantly miss targets to heal ills

Arab Today, arab today

Arab Today, arab today Global economy still stumbling as U.S., Europe constantly miss targets to heal ills

Beijing - Xinhua

Many had looked upon the arrival of 2011 with optimism that the world economy will slip out of the crisis in its third year since the explosion, but with the year closing out, a dark cloud lingers as major developed countries constantly miss targets in their attempts to heal economic ills. Unlike the financial crisis in 1997, the most developed nations were the major culprits for this round of depression: the U.S. caused the wound and Europe let it fester, miring the rest of the world in the economic pains. As such, the ultimate solution for the crisis lies in the hands of the developed countries to concentrate efforts to address and fix their own problems. But unfortunately, instead of targeting problems at home, those countries cannot refrain from pointing fingers at other countries, as they are accustomed to do. Take the U.S. for example, relentless spending from the top down, bewildering varieties of financial derivatives, much criticized rating agencies,yet none of these causes have been seriously examined and treated. Even budget trimming, an act that should undoubtedly be put on top, was left in the air over bickering in Congress. Regrettably, U.S. policymakers seem more interested in businesses outside the country, their long-stretching hands are reluctant to loosen their grip over everywhere from the Middle East to Asia. Europe painted a gloomier picture. The sovereign debt crisis has spread from Greece to Italy, compounded by the fact that credit ratings of some other European countries were further lowered by agencies. Despite the consensus that the spending spree was to blame for the debt crisis, the governments failed to come up with effective policies, as any austerity plans were met with vehement backlash from the masses. Under this context, China, with its still relatively fast growth, stands alone as the only bright spot among major economies, and has been dubbed by some economists as the sole engine that is in proper operation. Even so, instead of granting support and care to the maintenance of the engine, some have attempted to mix sand into the engine. Before China\'s entry into the World Trade Organization (WTO), the U.S. loved to single out the most-favored-nation treatment as a weapon against China. After its entry, the RMB currency has come under constant attack. Policymakers never got tired of repeating cliches -- how China artificially keeps its currency low, which costs thousands of jobs in America, and ignoring the fact that since China\'s currency reforms in 2005, the RMB has appreciated nearly 40 percent, while America\'s unemployment rate has barely improved. Another easy target is China\'s protection of intellectual property. Some countries say that China\'s flooding of pirated products has incurred huge losses for patent holders. This claim has failed to acknowledge China\'s progress in the area in an objective manner. Though far from stellar, China has made big strides in cracking down on illegal products compared with years ago. It is not that the country refuses to take actions, but any substantial transformation cannot be made with one stroke. Other accusations include discriminatory policies to foreign businesses, which could be neatly dispersed by the fact that many multinational companies have profited in the Chinese market while posting losses elsewhere. In contrast, it is the Chinese businesses that have been constantly denied accesses overseas. Despite all the disturbing noise, China believes that managing its economy well for its 1.3 billion people trumps everything, and with its economy growing gradually, it is also making due contributions to the world as a whole, actively stepping up to the role as a responsible player in the world arena. The winner of the game is not decided by who makes the loudest claims, but who has been a real helper in the sound development of the world economy. The answer comes with the time.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today global economy still stumbling as us europe constantly miss targets to heal ills Arab Today, arab today global economy still stumbling as us europe constantly miss targets to heal ills

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today As Olympics loom,China plunges into biz

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom,China plunges into biz
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues

GMT 05:34 2017 Monday ,27 February

Brexit sows seeds of doubt for British farmers

GMT 06:38 2017 Sunday ,26 February

US rig count increases

GMT 06:01 2017 Sunday ,26 February

BRIC funds see inflows amid emerging equity boom

GMT 05:43 2017 Sunday ,26 February

Al-Gergawi quits Dubai Holding to focus on govt role

GMT 05:14 2017 Sunday ,26 February

Oil prices to average $50-$70 through 2022

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Humans spark most US wildfires

GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Final Phantom VII signals end of an era

GMT 14:31 2017 Tuesday ,28 February

Final Phantom VII signals end of an era
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday