{"title":"全球经济面临的八大新挑战","authors":"Zhang Yuyan","doi":"10.1142/s2737557921500078","DOIUrl":null,"url":null,"abstract":"Due to COVID-19, the world has experienced the most severe economic recession since the Second World War. Some \"unconventional\" monetary policies have been enforced in order to stimulate the economy, and their effectiveness is positively regarded by the IMF. However, this paper identifies two negative effects of these measures. Firstly, they exacerbate policy instability; secondly, they will be detrimental to the fundamentals of monetary policies in the long term. In addition, the world economy is also confronted with many challenges, including global inflation expectations, the trends of dollar as a currency, restructuring of global supply chain, volatility of asset prices and commodity prices, and global and regional governance.","PeriodicalId":85727,"journal":{"name":"The Journal of East Asian affairs","volume":"146 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2021-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Eight New Challenges Faced by Global Economy\",\"authors\":\"Zhang Yuyan\",\"doi\":\"10.1142/s2737557921500078\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Due to COVID-19, the world has experienced the most severe economic recession since the Second World War. Some \\\"unconventional\\\" monetary policies have been enforced in order to stimulate the economy, and their effectiveness is positively regarded by the IMF. However, this paper identifies two negative effects of these measures. Firstly, they exacerbate policy instability; secondly, they will be detrimental to the fundamentals of monetary policies in the long term. In addition, the world economy is also confronted with many challenges, including global inflation expectations, the trends of dollar as a currency, restructuring of global supply chain, volatility of asset prices and commodity prices, and global and regional governance.\",\"PeriodicalId\":85727,\"journal\":{\"name\":\"The Journal of East Asian affairs\",\"volume\":\"146 1\",\"pages\":\"\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2021-12-09\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"The Journal of East Asian affairs\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1142/s2737557921500078\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"The Journal of East Asian affairs","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1142/s2737557921500078","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Due to COVID-19, the world has experienced the most severe economic recession since the Second World War. Some "unconventional" monetary policies have been enforced in order to stimulate the economy, and their effectiveness is positively regarded by the IMF. However, this paper identifies two negative effects of these measures. Firstly, they exacerbate policy instability; secondly, they will be detrimental to the fundamentals of monetary policies in the long term. In addition, the world economy is also confronted with many challenges, including global inflation expectations, the trends of dollar as a currency, restructuring of global supply chain, volatility of asset prices and commodity prices, and global and regional governance.
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