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People's Daily Online>>World

Major questions facing the world in 2012

By Shao Jin, Liu Jian (Xinhua)

13:55, December 31, 2011

Edited and translated by People's Daily Online

The international situation has undergone complex and profound changes in 2011, and people believe that 2012 will be another eventful year. As the New Year is approaching, certain nations are making difficult choices between struggle and compromise, recovery and recession, and war and peace.

Question 1: How big is the risk of a global recession?

The global economic recovery is becoming increasingly uncertain and unstable, arousing concerns that the international economic situation will become more complex and changeable in 2012.

The economic growth has slowed in certain major economies, and the sovereign debt crisis has intensified in certain countries in 2011. Emerging markets are facing various challenges such as shrinking external demands and rising internal inflation. Protectionism has increased significantly worldwide in various forms.

In addition, certain international and regional hot-spot issues remain unsolved. Global challenges such as food security, energy security, climate change, and frequent natural disasters are becoming increasingly serious. All these factors will exert their impact on the global economy in 2012.

Question 2: Can the European debt crisis be contained?

The European sovereign debt crisis has become a major uncertain factor affecting the world economy. Euro zone will usher in a new repayment peak in 2012.

The European Union held the last summit meeting in early December this year. This conference introduced new measures on dealing with the sovereign debt problems in Europe and strengthening internal governance of Europe. EU leaders believe that these measures have taken an important step towards establishing a fiscal union and ensuring euro’s lasting stability. But some analysts said it’s hard to achieve the objective of short-term bailout with these measures. Market confidence is still insufficient in whether the debt crisis can be contained in 2012.

Question 3: Can the United States stabilize Iraq and Afghanistan?

President Obama will withdraw all U.S. forces from Iraq by the end of 2011 and the war in Iraq comes to an end. The United States has begun to withdraw its troops from Afghanistan. What the U.S. has paid in these two protracted wars are casualty and war cost, which are unexpected and not worth. In the coming year, the U.S. will face many challenges to stabilize the situation in Iraq and Afghanistan.

In current Iraq and Afghanistan, social and economic development is slow; national unity is very fragile, the security situation is difficult to control and their leaderships have many differences with the United States. Therefore, the U.S. shall face a number of problems to establish a stable pro-Western regime in these two countries.

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Leave your comment3 comments

  1. Name

Canada at 2012-01-0170.36.49.*
My hope is Obama will see that for China & socialists/communists everywhere, it is not about power to dominate the world, but power to make life better for everyone in society, not just the corporate and wealthy elite.
alam at 2012-01-01202.79.19.*
american economy is likely to nose dive in the coming years,since as the self appointed police man of the world it is going to pay more.thieves never listen to good advice.mao was correct about the imperialists.
CK wong at 2011-12-31115.132.178.*
Today"s world is starting to get tansformation of inter-dependency between the west and the east. The western world must not get stagnant in the ole imperial era of the third worl producing cheap goods, and they enjoythe fruits opf third world"s labour using their more advanced technology and commercial monopolistic trading skills. In the 21st century, everthing had changed, the third world in picking up in many fields, especially in breaking up the monopolly trades controlled by the west. Today it is not necessary the west detect the prices of goods and commodities. The mobility and easy communication mad eeasy today allows higher compeition and the advantages is no more solely in the hands of the west. Besides the African contenent, the South America group and Asia countries have had inmproved economy handling skills by various governments, and the recent increases in price of commodities and food produces, many third world gained despite the 1997 episode which the hedging funds had brought near sofocation of financial crisis after majority of the third world currency had devaluated termendously against US$. But these countries sprang back and doing very well today. Any crisis envisage fo the coming 2012 would not affect these countries very much because the Asia and south America markets will be able to absorb a big chunk of the vibration and downturn of the US and Euro zone. But given the able leadership of Germab and France, Euro could pick up very fast, say 2 to 3 years? 2012 is definitely a challenging world, but not inmanageable.

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