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The EU is worried about the chaos of the US economy
18/9/2017 12:17 AM [rtl] Christian Raarman translation / Khaled Kassem facing the United States , the process of losing its position in terms of economic supremacy in the era of President Donald Trump, show internal document of the European Union , a sense of the old continent concerned about it. Stanley Fischer, the Federal Reserve Vice President, used to diminish the wealth of the world. He spent his childhood and youth in the British reserve of Rhodesia, now Zambia and Zimbabwe, before going to London in the early 1960s to complete his university studies. History repeats itself, as Fischer sees another great power leave the world stage and says that America's role as guarantor of global organizations such as the International Monetary Fund (IMF) is no longer recognized . Fischer believes that the US government's efforts to relax banking controls 10 years after the financial crisis are simply spectacular and announced its recent resignation, meaning losing the world's most important central bank to an expert whose professionalism nobody doubts. The depth of the EU-US divide can be seen in an internal statement issued by the Economic and Financial Committee of the Union. The Commission is composed of senior officials of the member countries' finance ministries and coordinates the Common Union's position on important issues of economic policy . This time, experts are looking at a different document, the International Monetary Fund's July assessment of the state of US economic policy, and the report itself opens new information. The IMF has revised its forecast for US and US economic growth for the next two and a half years and has urged the US government to address pressing problems such as aging, weak growth and inequitable distribution of income. Europeans believe criticism of the IMF's experts is insufficient, and see Washington's discussions on restricting free trade and international cooperation as an attack on global economic peace, and damaging America itself. EU financial experts are critical of the IMF, saying it should focus more strongly on the risks of increased protectionism . The document argues that the US administration must adopt measures both for revenues and expenditures to ensure long-term sustainability. As far as investments are concerned, Europeans are concerned that international investors have recently avoided the US. In the area of taxation, an expected tax reform that will reduce the burden on high income groups will exacerbate the challenges facing economic prospects such as polarized income distribution, increased poverty and declining labor force participation. The first victim of poor efficiency in Washington is the dollar, with currency experts predicting the exchange rate between the euro and the dollar, but that has changed now and the euro has crossed the $ 1.20 threshold recently. Not only did the weak dollar perform against the euro but it depreciated against sterling and the yen, and this decline signaled a lack of confidence in Trump and his team. The US currency was the basis for financial markets, even when the fixed exchange rate system ended in the early 1970s. The euro is one of the beneficiaries of the dollar's decline, showing that Asian and South American and North American investors are increasingly buying European bonds. Journal of Der Spiegel [/rtl] [rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=144433 [/rtl] |
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