男女羞羞视频在线观看,国产精品黄色免费,麻豆91在线视频,美女被羞羞免费软件下载,国产的一级片,亚洲熟色妇,天天操夜夜摸,一区二区三区在线电影
   

High oil prices add uncertainty to future world economy

(Xinhua)
Updated: 2008-01-04 22:47

For developed economies, the sub-prime mortgage crisis has triggered a lack of financial fluidity. To avoid further turbulence on the financial market, the US Federal Reserve (Fed) and the European Central Bank had to lower interest rates or stop raising interest rates in order to stimulate fluidity. However, high oil prices pose pressure for potential inflation, which will put western central banks in a dilemma on whether to increase or decrease interest rates.

Related readings:
 $100 oil might not hit China severely
 More oil futures products needed
 Oil edges back toward $100 mark
 Crude oil prices to continue surging
 Oil prices ease after hitting $100

In spite of that, many analysts believe that a surging oil price now won't be as destructive to the world economy as in the past, as western economies such as the US have greatly reduced their reliance on oil in the last 30 years.

"The percentage (of personal income spent on energy) was far higher in 1979-80 than it is now," said Kay Smith, a macro-economist at the Energy Information Administration.

In 1981, 14 to 15 percent of the nation's gross domestic product was spent on energy, according to Lester Lave, professor of economics at Carnegie Mellon University's Tepper School of Business. That has fallen to seven percent today.

"So far, consumers have done an amazing job of ignoring high oil prices," said David Wyss, chief economist at Standard & Poor's.

The Daily Telegraph newspaper in Britain pointed out that in recent years the relationship between oil and the wider economy has been "out of whack" for some time. The ten-fold increase in oil prices in recent years has shown its lack of broader impact on the world economy, the paper said.

However analysts' opinions on the effect of surging oil prices on the global economy may differ, its psychological impact on global investors cannot be underestimated. On the New York Stock Exchange, the Dow Jones industrial average, the Standard & Poor's 500 Index, and the Nasdaq Composite Index all plunged on January 2, due to the upthrust of oil prices above the 100-dollar threshold. On January 4, the 225-issue Nikkei Stock Average on the Tokyo Stock Exchange also plummeted.

If investors' panic caused by high oil prices is difficult to erase, the global financial market may witness more turbulence in the new year, analysts fear.

   1 2   


Top World News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
主站蜘蛛池模板: 霍城县| 叶城县| 花莲市| 合山市| 乃东县| 磴口县| 大厂| 凤翔县| 壤塘县| 会昌县| 青神县| 轮台县| 长顺县| 东乡| 关岭| 巴马| 澄城县| 太仆寺旗| 东宁县| 库尔勒市| 西城区| 渑池县| 长治市| 阳新县| 慈溪市| 南陵县| 江口县| 吉隆县| 灯塔市| 和龙市| 申扎县| 平罗县| 南部县| 三门县| 临安市| 友谊县| 科技| 秭归县| 乌兰县| 平遥县| 台前县| 仙桃市| 佛山市| 开平市| 英山县| 陕西省| 台中县| 囊谦县| 福贡县| 栾川县| 霍州市| 灵台县| 隆德县| 惠水县| 永康市| 安徽省| 剑川县| 清徐县| 东宁县| 屏山县| 蓝田县| 自治县| 黄陵县| 织金县| 齐齐哈尔市| 格尔木市| 柏乡县| 防城港市| 根河市| 思茅市| 明光市| 汝南县| 仲巴县| 南部县| 东乌| 五大连池市| 瓦房店市| 石林| 凤凰县| 高平市| 蒙自县| 遂溪县|