- December 5, 2022
- Posted by: Stratford Team
- Category: Economy
Lujiazui, the financial center in Shanghai, forms a perfect backdrop to the Bund area of Shanghai. [Photo by Wang Gang/For China Daily]
Recently, inflation in the United States and the European Union has risen significantly, with the US CPI exceeding 7.5 percent for six consecutive months and the eurozone CPI hitting a new high of 10.7 percent. Over the past year, due to the impact of extremely loose global liquidity and supply chain bottlenecks, coupled with the Russia-Ukraine woes, global inflation levels have continued to rise, reaching the highest level in nearly 40 years and becoming the most severe round of stagflation since the 1970s. At the same time, with the withdrawal of temporary global COVID-19 relief measures, as well as the implementation of tight monetary and fiscal policies adopted in response to inflation, this has led to economic growth continuing to slow.
Compared to the 1970s, the current…