摘要
The US sub-prime mortgage crisis has put a sharp brake on the robust growth of the world economy.As the Wall Street financial storm has quickly escalated into a global financial crisis,the whole world has sunk into panic.The full-scale recession in the developed world has dragged the emerging markets into economic downturn as well.Governments have been caught off guard by the sudden slump in both international trade and investment,and the rapid deterioration of the global development environment.The pernicious feedback loop between the financial sector and the real economy has propelled the financial crisis into an unfathomable abyss,and plunged the world into the worst recession since World WarⅡ.The world economy is expected to start recovering only in 2010.
The US sub-prime mortgage crisis has put a sharp brake on the robust growth of the world economy.As the Wall Street financial storm has quickly escalated into a global financial crisis,the whole world has sunk into panic.The full-scale recession in the developed world has dragged the emerging markets into economic downturn as well.Governments have been caught off guard by the sudden slump in both international trade and investment,and the rapid deterioration of the global development environment.The pernicious feedback loop between the financial sector and the real economy has propelled the financial crisis into an unfathomable abyss,and plunged the world into the worst recession since World WarⅡ.The world economy is expected to start recovering only in 2010.
