The 12th Lujiazui Forum opened in Shanghai on June 18
In third plenary, two high Jin Jiabin: part-time professor of Shanghai jiao tong university, Shanghai institute of senior financial Mr Tu, executive director of the Nobel Prize winner of economics in 2001, professor of economics at New York university a. Michael Spence was invited with the Chinese finance association, before the People's Bank of China governor zhou xiaochuan, the China Securities Regulatory Commission vice chairman fang, A new development bank vice President and chief operating officer ZhuXian, the city of London policy and resources committee chairman Catherine McGuinness around "the global economic and financial situation: Dialogue on growth, Uncertainty and Open cooperation.
Was the Fed kidnapped by the market? How do you see future growth prospects? Will future growth be V-shaped, U-shaped or L-shaped? A. Michael Spence says it's A very uncertain time. He doesn't think central Banks, including the Federal Reserve and the European Central Bank, have been held hostage by the markets, but they are in trouble. A. Michael Spence, meanwhile, is not optimistic about seeing A V-shaped recovery in the future.
As for the current global epidemic situation, A. Michael Spence believes that the situation in developing countries, developed countries and East Asia, including China, is very different. He said that East Asia, including China, has been relatively effective in controlling the epidemic and has acted quickly to restore social order. However, in developed countries, such as Europe and the United States, the response from governments and the system has been slow and the economic contraction is evident, so the impact will be more lasting. Most economies will have to wait until the outbreak is effectively contained before they can begin to recover slowly
A. Michael Spence says his views on the future of the economy have swung between optimism and pessimism. Some problems are not going away anytime soon, and some are even getting worse. In his opinion, there is currently beneficial international cooperation in the fields of science and medicine. There is also room for cooperation in the financial sector. Even if there are some headwinds and signs of fragmentation in the international economy, we can change course and learn from the lessons of the epidemic.
Finally, Professor A. Michael Spence asks, "Can we turn the scar into the possibility of catalyzing development in the future?" He suggested that there could be more cross-border cooperation, while focusing on sustainable development. "At this challenging time, we should do more cross-border cooperation to build Bridges rather than erect obstacles," he said.
SMiler capacitor also ready to fight the virus or a long time.