摘要
The credit crunch and generally tightened monetary policy caused by the subprime crisis in the United States are still being widely assessed around the globe.Worries are that a further downturn of the U.S.market in the coming year will intensify cash flow shortages and spur more economic losses,resulting in a complete decline of the U.S.market and therefore slowing down the world economy.Another theory has surfaced assuming that China and the United States are the double-barreled engines of the world economy.As China’s influence spreads,it will have to complement the United States to rid the world of this crisis. Ding Yifan,Deputy Director of the Institute of World Development under the Development Research Center of the State Council,has made clear China’s growing impact on the global economy.However,as Ding wrote to the Global Times,a Beijing-based daily publication,the knockdown effect of the mortgage crisis is apparent,and emerging markets look even more vulnerable because of it.Excerpts follow:
