Virtualization economic miracle by the end of the U.S. economy hit the core.

For the United States Government and the Federal Reserve's subprime mortgage crisis intensified, has issued a series of relief measures. .How the U.S. economic outlook, whether by strengthening financial supervision and the "nationalization" out of the woods? .Nankai University, one of this Task Force believes that the U.S. financial crisis is the virtual end of the economic expansion of the core of the economic crisis caused by the United States, the financial crisis is the evolution for the economy and the dollar crisis, the U.S. has been difficult on their own will be towed back to the normal operation of the economic track, .its influence in the world economy's decline is a foregone conclusion. .Expansion of the U.S. economy virtual <P> "tipping" the financial crisis </ P> <P> "trigger a global economic downturn of the financial crisis, one of the root causes of the outbreak of the virtual economy over the U.S. expansion." </ P> <P .> Sun Yefang Laureate in Economics, Nankai University, Economics and Management of Virtual Liu Jun, director of research under long-term follow people found the fifties and sixties of last century, the U.S. manufacturing entity to rapid economic growth, products for the world needs .current account surplus, the United States dollar output through the capital account deficit. .And in recent decades, the United States experienced a process of de-industrialization, manufacturing jobs, the real economy continue to weaken. .Statistics show that the U.S. real economy to create the GDP proportion of its total GDP, from 61.78% in 1950 fell to 33.99% in 2007. .</ P> <P> Professor Liu Junmin said, to keep the rest of the world provide in-kind goods and resources in the United States, the U.S. current account deficit continued through out the world U.S. dollars. .High-currency inflows into the main U.S. consumption growth is also supporting an important factor in the United States virtual economy. .</ P> <P> process of the Virtual Economy, the U.S. economy is increasingly dependent on the ability to maintain the continuous growth of monetary income, because people are not maintaining the standard of living to see what can meet their production needs, .is to see the Americans do not have enough money income to consumption of products from around the world. .</ P> <P> the U.S. economy the most notorious of virtualization is the risk of financial leverage to the entire distribution of economic activities. .</ P> <P> Liu Junmin that banks and other financial institutions to low-income home loans, consumer loans for consumers, such as stock trading, after financing, through the timely recovery of capital securities, the bank's lending ability to change almost .have no limits. .Although this will increase the number of financial assets and financial transactions of the scale, but the risk will be distributed to the purchase of these securities in the hands of institutions or investors. .If these securities into options, futures field, they will once again have a "leverage effect." .The role of various financial leverage intertwined, the risk of the operation of the U.S. economy will continue to grow. .</ P> <P> relief measures and the market economy conflict with core values </ P> <P> as the deepening financial crisis, the U.S. government has also introduced a comprehensive economic rescue plan. .February 17 this year, President Obama signed a total of 787 billion U.S. dollars of the "American recovery and re-investment plan"; 18, the White House announced the top 275 billion U.S. dollars of the buyers solvency and stability of the scheme; 26 .Government Youxiang Congress the 2010 total of 3.55 trillion U.S. dollars in fiscal year budget. .</ P> <P> "these measures are very difficult to fundamentally solve the economic problems facing the United States." </ P> <P> Liu Jun said the people from the external environment required for economic recovery, the United States recently introduced a series of policies ., is the Roosevelt "New Deal" has been the largest, the deepest level, the widest range and most prolonged government intervention. .This makes the opposite of the United States to financial liberalization, promotion of the United States to the world the concept of free market economy by the fatal blow, forcing the United States and farther away from the market economy. .</ P> <P> "financial, real estate, lawyers, consultants and other high-end services that support the core of the U.S. economy. The development of these services are highly dependent on financial liberalization. At present, both financial institutions managed by the regulator to .strengthening the system control until control measures are all the U.S. financial liberalization in the opposite direction. will also affect the extent of these core economic recovery. "</ P> <P> In addition, the equivalent of the United States directly to the relief measures .nationalization of bad debts. .Financial crisis is a problem of bank credit, nationalization is bad and doubtful debts to support the national credit bank credit, but decided the key to the U.S. national credit abroad, the current situation is not optimistic: the U.S. current account deficit has been 25 years, outside of .difficult to sustain confidence in the U.S. economy, more and more bearish and the future of American States. .</ P> <P> the United States needs international assistance to defuse the crisis </ P> <P> 2009 年 3 months of data show that the average American credit scale been restored. .However, Nankai University, Research Center for Virtual Research on Economics and Management believe that the U.S. financial services industry mainly refers to the investment banking and securities business, traditional business does not mean the recovery of the financial services industry as a pillar industry of the recovery. .</ P> <P> and the United States is now the financial crisis has deeply linked with the dollar crisis. .Fell outside of U.S. dollar assets would cause the sell-off of dollar assets, the dollar exchange rate fell further, the two form a vicious circle. .</ P> <P> Jun Min Liu, said a possible solution to the current crisis means that the United States for Europe, Asia and the real economy and strong state, with their domestic currency to buy dollars to prop up the dollar's international status. .U.S. dollar assets held by countries and enter into currency swap agreements, on the one hand nailed to the dollar assets abroad (countries holding U.S. dollar assets are no longer sold), on the other hand with the other currencies to purchase dollar assets to support .U.S. dollar and U.S. asset prices will not decline. .But supporters, help the U.S. also means that they bear the risk of paying for the United States. .</ P> <P> his analysis, the dollar crisis, if intensified, the end result can only be allowed in the shrinking U.S. dollar in world currency, we should work together for bear the loss. .If other countries can share in America's foreign economic burden caused by virtualization, at least give the U.S. a long time to repair all kinds of loopholes in the domestic economy and increase the proportion of the real economy, reduce the proportion of the virtual economy, making both .the development of the virtual economy is no longer showing the trend of the real economy compressed, thus fundamentally changing the economic structure of virtual risks caused by too high. .</ P> <P> "In fact, America faces a dilemma: to rely on ever-expanding virtual economy is not sustainable, but also the financial, real estate services, including the virtual economy is impossible to restore the level before the financial crisis; back .support the real economy, the old road, which means to rebuild the industrial system, it very difficult to accomplish in the short term. "Jun Min Liu said. .</ P>.