SINGAPORE, Nov 11, 2009 (AFP) – Asia’s rapid recovery from the economic crisis carries new risks of overheating, and governments must carefully unwind their huge stimulus injections, the World Bank chief warned Wednesday.

Robert Zoellick said there were signs in some markets of a “substantial” rise in equity and property prices which could lead to asset bubbles — the very ingredients that triggered the global crisis in the first place.

“In East Asia, if you start to get a strong rebound in growth, and you’ve got a lot of liquidity, there is the question of whether one could start to face asset bubbles in particular markets,” he told the Foreign Correspondents Association of Singapore.

He said this was one reason why Australia had become the first industrialized nation to raise interest rates since the crisis erupted, but the response could differ among countries.

“I think one of the questions here will be the timing of how they manage the interest rates and the risk that they could get some inflation and even asset bubbles which obviously, if they become a serious issue, could undermine confidence going forward,” he said.

Zoellick said Asian governments must take care in winding down the multi-billion-dollar stimulus packages they implemented to ease the impact of the global downturn.

World Bank president Robert Zoellick (R) speaks while Richard Woolcott (L), former Australian secretary of foreign affairs and trade, share a light moment during the APEC 20th anniversary high-level symposium on November 10, 2009 in Singapore (AFP photo)

Most of the packages will run until next year, and governments must find a way to transition smoothly back to growth led by the private sector, he said.

“A lot of the stimulus programmes, including the one in the United States, really don’t have their full effects until late this year and the first half of 2010,” he said.

“And so when that stimulus money has run its course, then the question will be, will the private sector rebuild demand?”

Zoellick was speaking on the margins of annual meetings of the Asia-Pacific Economic Cooperation (APEC) forum in Singapore, leading up to a summit this weekend of regional leaders including US President Barack Obama.

The APEC leaders are expected to say they will maintain their hefty stimulus packages until they secure a “durable” recovery from the world’s worst slowdown since the 1930s, according to a draft communique seen by AFP.

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World Bank President Robert Zoellick warned policy makers that fiscal-stimulus plans are insufficient to turn around the “real economy” and rising joblessness threatens to set off political unrest across the globe.

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“While the stimulus has given an impulse, it’s like a sugar high unless you eventually get the credit system working,” Zoellick said in an interview yesterday with Bloomberg Television’s “Political Capital with Al Hunt.” “When unemployment increases, that’s probably the most political combustible issue.”

Zoellick’s caution is a contrast with private economists, who are raising their outlooks for growth from India to China as stimulus measures take effect. The biggest developed and emerging nations have committed spending increases and tax cuts totaling 2 percent of their combined economies, a level the International Monetary Fund recommended to end the recession.

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URL to article: http://www.infowars.com/zoellick-warns-stimulus-sugar-high-wont-stem-unemployment/

World Bank President Admits Agenda For Global Government

Bilderberg elitist Zoellick calls for IMF, WTO & World Bank to regulate national policy

Paul Joseph Watson
Prison Planet.com
Wednesday, April 1, 2009

World Bank President and Bilderberg elitist Robert Zoellick openly admitted the plan to eliminate national sovereignty and impose a global government during a speech on the eve of the G20 summit.

Speaking about the agenda to increase not just funding but power for international organizations on the back of the financial crisis, Zoellick stated, “If leaders are serious about creating new global responsibilities or governance, let them start by modernising multilateralism to empower the WTO, the IMF, and the World Bank Group to monitor national policies.”

In other words, give global institutions the power to regulate national policy as part of the creation of global government.

What Zoellick is outlining is essentially the end of national sovereignty and the reclassification of national governments as mere subordinates to a global authority that is completely unaccountable to the voting public of any country.

The more cynical amongst us would call this a global dictatorship. Zoellick couches the plan in flowery rhetoric of helping the poor and alleviating poverty, but as we have documented for years, the global elite’s goal of world government has little to do with saving the planet and everything to do with creating a global fascist state.

Zoellick, former Executive Vice President of Fannie Mae and advisor to Goldman Sachs, is a top elitist who was intimately involved in the Enron scandal and the 2000 presidential election debacle. He was also a signatory to the Project For A New American century document that called for invading Iraq as part of implementing a brutal world empire in 1998. He was later a foreign policy advisor to George W. Bush.

As to be expected, Zoellick is a member of the Council on Foreign Relations and the Trilateral Commission. He also attended the annual invitation-only conferences of the Bilderberg Group in 1991, 2003, 2006 and 2007.

(ARTICLE CONTINUES BELOW)

Meanwhile, British Prime Minister Gordon Brown will use the G20 summit in London to extend an olive branch to China, offering them a central role in the construction of a new world order and a global government, according to reports.

“Brown will hold talks with Hu Jintao, China’s president, following discussions with Barack Obama, amid signs that developing countries see the G20 summit as a chance to impose a new world order and end the era of Anglo-European dominance,” reports the Guardian.

Under the proposal, China will vastly increase its IMF funding in return for more voting rights.

A central focus of the G20 summit will be the proposal to supplant the dollar with a new global currency. Both the IMF and the United Nations threw their weight behind the implementation of a new global reserve currency system to replace the dollar, in the same week that Treasury Secretary Timothy Geithner told CFR globalists that he was “open” to the idea.

China and Russia brought the issue to the forefront of this week’s G20 when they jointly called for a new global reserve currency a week ago.

Brown has consistently called for global regulation of the financial system as a means towards global governance. In a speech at St Paul’s Cathedral in London yesterday he again called for a new “global society”.

Research related articles:

1. Financial Times Editorial Admits Agenda For Dictatorial World Government
2. UN & IMF Back Agenda For Global Financial Dictatorship
3. CNBC Analyst: Global Bank, Global Currency Within 15 Years
4. Brown: World needs ‘global New Deal’
5. World Bank offers dire forecast for world economy
6. Bankers Want World Economic Government To Solve Financial Crisis They Created
7. Summit that’s hard to swallow – world leaders enjoy 18-course banquet as they discuss how to solve global food crisis
8. EU President Calls For “Global Governance” To Solve Financial Crisis
9. China Voices Support For New Global Currency To Replace Dollar
10. Slimeball Rachman Aghast At Reaction To “Global Government” Editorial
11. Obama’s Energy Czar: Socialist Agent For World Government
12. World Leaders Agree to Seek Major Global Reform

“I think 2009 is going to be a very dangerous year.”

-Robert Zoellick (President of the World Bank)

Source: Zawya, Economy faces new challenges

At least 17 of the 20 major nations that vowed at a November summit to avoid protectionist steps that could spark a global trade war have violated that promise, with countries from Russia to the United States to China enacting measures aimed at limiting the flow of imported goods, according to a World Bank report unveiled yesterday. 

WB Präse Zoellick sieht es als unabdingbar an, den betroffenen Staaten in Osteuropa finanziell zu helfen, sonst “It’s 20 years after Europe was united in 1989 – what a tragedy if you allow Europe to split again.”

Interview

Source: World Bank

World Bank President Robert B. Zoellick said today that despite its recent slowing growth, the Chinese economy continues to play a key stabilizing role as other economies around the world come to terms with the effects of a global recession.

“The most important thing that China can do for global stability at this point is to keep its own economy growing well,” Mr. Zoellick told a gathering of national and international media during his second visit to China as World Bank President. ” That won’t be easy given the downturn in international trade that China is already experiencing. This is why the Government’s welcome efforts to stimulate the domestic economy will be so important in the months ahead.”

Mr. Zoellick said recent reductions in food and commodity prices would provide welcome relief to millions of people on or below the poverty line while also cutting the risk of inflation. ” This should also help to boost prospects for the domestic economy,” he said.

Mr. Zoellick discussed the financial crisis and its impacts on China’s economy with leaders of the Chinese Government today. “On the 30th anniversary of its economic reforms, China plays a critical role in the global economy. China’s efforts to boost domestic demand are good for the global economy. They can also help China achieve its own economic rebalancing goal,” Mr. Zoellick said.

At the meetings, Mr. Zoellick also commended the Chinese leaders for China’s remarkable rescue and relief effort following the earthquake which devastated areas of Sichuan, Gansu and Shaanxi in May. Before meeting with state leaders in Beijing, Mr. Zoellick visited the town of Beichuan in Sichuan province where he met with provincial officials and laid a wreath in remembrance of the more than 68,000 people who died and 18,000 who are still missing as a result of the earthquake and after shocks.

In Beichuan, Mr. Zoellick was able to see the early results of an approach to recovery that China has developed in which reconstruction in the 18 most extremely affected counties in Sichuan is being financed by domestic sources from “provincial twinning partners”. Shandong Province is designated as the partner for Beichuan County.

The World Bank is finalizing a $710 million loan – expected to be considered by the World Bank Board for its approval next month – to support China’s 1 trillion RMB reconstruction effort in areas severely-affected by the earthquake. The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has already signed an agreement to provide equity support for increased loans to small and medium enterprises (SMEs) affected by the earthquake.

“The Government’s massive recovery and reconstruction efforts to aid communities in the wake of the devastating Wenchuan earthquake are extremely impressive,” Mr. Zoellick said. ” We are pleased to be able to contribute our global experience and knowledge of disaster recovery while helping other countries to learn new and effective approaches from China.”

In Beijing today, Mr. Zoellick has met with Executive Premier Li Keqiang, Vice Premier Wang Qishan, Minister of Finance Xie Xuren, Minister of Foreign Affairs Yang Jiechi, and Minister of Commerce Chen Deming. Before his departure, he will meet Premier Wen Jiabao, Governor Zhou Xiaochuan of the People’s Bank of China, Vice Chairman of the National Development and Reform Commission Zhang Xiaoqiang, and President of the Export-Import Bank of China Li Ruogu to discuss ongoing cooperation and knowledge sharing between the two agencies. While in Sichuan on the weekend, Mr. Zoellick met Provincial Party Secretary Liu Qibao and other provincial officials to discuss the expected World Bank loan to assist the recovery program.

A China aprovou um pacote de estímulo à economia de 4 trilhões de yuans, o equivalente a US$ 586 bilhões, para ser usado até 2010 para impulsionar a demanda doméstica, segundo informações da agência oficial de notícias Xinhua veiculadas neste domingo (9).

Como estava previsto, os investimentos serão concentrados em infra-estrutura e bem-estar social. A agência não informou como o gasto extra será financiado. O pacote também inclui aumento no financiamento a pequenas e médias empresas.

Segundo a Xinhua, a China investirá 100 bilhões de yuans em construção nacional neste trimestre e 20 bilhões de yuans no ano que vem para a reconstrução em áreas atingidas por desastres naturais.

Neste sábado, em São Paulo, onde participa da reunião do G20 financeiro, o presidente do banco central da China, Zhou Xiaochuan, disse que o país quer manter sua taxa de expansão econômica, que deve ficar entre 8% a 9% em 2009.

Preocupada com a desaceleração de sua economia e com a crise global, a China anunciou no fim de outubro o segundo corte da taxa de juros no mês, de 0,27 ponto percentual na taxa de juros –a taxa de empréstimos para um ano caiu, assim, de 6,93% para 6,66%.

O PIB chinês cresceu 9,9% entre janeiro e setembro deste ano em relação ao ano passado, 2,3 pontos percentuais a menos que no mesmo período de 2007.

Assim, o pacote de medidas destinadas a estimular a economia abrangerá até 2010 dez programas de impulso à vida da população, como casas para pessoas de baixa renda, infra-estruturas rurais, rede de transporte, ambiente, inovação tecnológica e reconstrução posterior aos desastres naturais.

O teto creditício dos bancos comerciais também será suprimido, a fim de canalizar mais empréstimos para projetos prioritários, no interior do país, em pequenas e médias empresas, fusões e aquisições.

Taiwan

Em Taiwan, o banco central do país, inesperadamente, reduziu a taxa básica de juro em 0,25 ponto percentual neste domingo, para 2,75% ao ano, quarto corte em pouco mais de um mês.

A decisão do BC de Taiwan ocorre depois que as exportações do país registraram, em outubro, a primeira queda na comparação anual em três anos e meio, e a inflação desacelerou para o menor nível em um ano.

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Rizzolo: O governo chinês com este pacote pretende se resguardar dos efeito da crise. A economia chinesa não tem a característica do consumo, portanto com a diminuição das exportações a canalização dos produtos ao mercado interno é de certo modo mais complicado, o conceito de poupança na China está enraizado. Com este pacote, o governo pretende estimular o mercado interno .

É uma boa notícia. Observa-se que os emergentes não aceitam uma diminuição do crescimento econômico, e de tudo fazem para estimula-lo, mas as perdas já são enormes, e o tamanho da crise ainda ninguem sabe, como afirmou o presidente do Banco Mundial, Zoellick, a crise financeira iniciada em setembro chegou definitivamente aos países em desenvolvimento, nos quais agora está tendo um efeito “dramático”. “Há um sentimento muito forte de que o mundo em desenvolvimento está sendo atingido significativamente pela desaceleração”.

Por aqui o frio continua intenso, principalmente à noite. Já nos jornais deste domingo, aqui na França, o que mais se fala é sobre a crise e o País em relação aos demais países da europa. O Le Journal des Finances dedicou um artigo enorme neste domingo, sobre Obama e seus desafios na economia americana. Todos preocupados, hein !

 A single world banking system, a single world currency, and a single world governing body are on the horizon.  No matter what your beliefs about the apocalypse or end-times revelation, the global buzz of unified oversight has moved from a 2 to a 10 in recent weeks.  

President of the World Bank, Robert Zoellick envisions a world without the current nation members in control.  In an AP article from yesterday Zoellick explains, “The G-7 is not working. We need a better group for a different time.”  Zoellick explains later in detail, “We will not create a new world simply by remaking the old. It should be numberless, flexible, and over time, it could evolve.  Others may be added, especially if their rising influence is matched by a willingness to help shoulder responsibilities.”

On a similar note recent statements by President Sarkozy of France and others show that the World Bank president is not alone in his conclusions. In an article from Bloomberg.com, Sarkozy calls for a global summit, “as soon as possible,” to implement, “a real and complete reform of the international financial system.”  He also added that, “We want a new world to come out of this, we want to set up the basis for a capitalism of entrepreneurs, not speculators.”  And in an article from CBS, New York Mayor Michael Bloomberg is quoted as saying that, “current problems are so grave that no one country can solve them alone.”

The progression to a one-world system was greatly accelerated last week with the passage of the $700 Billion government “bailout” package.  And with the largest European countries also lining up to pass the same type of legislation, with global banking leaders talking about “new worlds”, a new global governance body seems imminent.

Octubre 8, 2008

El Banco Mundial acaba de señalar que la crisis financiera que estalló en los Estados Unidos, “mostró el lado oscuro de la conexión global”, y advirtió que “la cruda realidad, es que los países en desarrollo deben prepararse para una disminución del comercio, los flujos de capital, las remesas y la inversión interna, así como a una desaceleración del crecimiento”. 

El presdiente de ese organismo, Robert B. Zoellick, dijo que el crack financiero estadunidense ha empezado a detonar una desaceleración del crecimiento y el deterioro de las condiciones financieras que, junto con la restricción monetaria, “ocasionarán quiebras de empresas y, posiblemente, emergencias bancarias”.

Aseguró que la crisis financiera del vecino país del norte, que ya comenzó a tener su expresión también en la Unión Europea, podría ser un punto crítico para muchas naciones en desarrollo en donde ya muchas familias  están preocupadas por lo que les pueda deparar el destino.

Zoellick aseguró que aunque Estados Unidos y el mundo logren salir del pozo, “debemos concentrarnos en el porvenir: necesitamos una red multilateral para una nueva economóa mundial”, por lo que, dijo, se requiere de un multilateralismo flexible, que respete la soberanía de los estados.

Por su parte, el Fondo Monetario Internacional aumentó su cálculo sobre  las pérdidas que ocasionará la crisis financiera de los Estados Unidos en el mundo a 1.4 billones de dólares, cuando apenas en abril las estimaba en 950,000 millones de dólares.

Ese organismo dio a conocer, además, que el sector bancario internacional necesitará alrededor de 675,000 millones de dólares para refinanciarse en los próximos años, si desea mantener un ritmo mínimo de crecimiento del crédito.

Estas cifras son muy independientes de los 700,000 millones de dólares del plan Bush de rescate del sistema financiero norteamericano, que acaba de ser aprobado la semana pasada por los legisladores del vecino país del norte.

Incluso el FMI advirtió a los gobiernos que hasta ahora no habían querido tomar las medidas pertinentes ante la evidente crisis financiera norteamericana, que “se requierirán medidas políticas decisivas e internacionalmente coherentes, para restaurar la confianza en el sistema financiero global”

El negro panorama planteado por el FMI y el BM se da a unas cuantas semanas de los comicios en el vecino país del norte, a celebrarse el próximo 4 de noviembre, en donde se elegirá al Presidente número 44 en la historia de la Unión Americana.

Quien quiera que gane entre el candidato republicano John McCain y el demócrata Barak Obama, heredará un gran paquete de un devaluado George W. Bush, quien, se dice, ya de plano le heredó el mando al secretario del Tesoro, Henry Paulson.

Pese a las estimaciones del Fondo Monetario Internacional y del Banco Mundial, hay quienes aún se resisten a aceptar que el desplome del sistema financiero norteamericano podría llegar a tener efectos tan desastrosos, después de que los legisladores de aquel país aprobaron la semana pasada el plan de rescate propuesto por la administración Bush.

Algunos hacen ostensible que las repercusiones del crack del sistema financiero norteamericano, podría traer consecuencias superficiales a las economías de otros países, y que es erróneo atribuir anticipadamente consecuencias de corto, mediano o largo plazo, a un evento que lo ven como si fuera aislado.

Pero el hundimiento de los valores bursátiles en los mercados mundiales durante los primeros días de esta semana, ha sido una evidente señal de pánico de quienes temen que la recesión en Estados Unidos se convierta en franca depresión, peor que la de 1929.

Aquel crack, entonces, provocó el peor desastre económico de su historia, con el desplome del mercado bursátil y la pérdida de fortunas de quienes jugaban especulativamente en la bolsa de valores, con las inmediatas consecuencias para la inversión y el gasto del consumidor, lo cual afectó la producción, el ingreso y el empleo en Norteamérica.

La crisis de ahora es distinta, a causa de que en estos tiempos se hallan globalizadas las actividades financieras y económicas, como ha sido expuesto por el Banco Mundial, cuyo panorama lo complementa el Fondo Monetario Internacional en términos poco halagüeños.

Después de lo que apuntan ambos organismos, parece inminente que el crack del sistema financiero norteamericano, quiérase o no, resultará de consecuencias profundas para los países desarrollados, pero también para otros en desarrollo como el nuestro… Ojalá y los especialistas se equivoquen…

                                                         escaparate@paulinocardenas.com