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#CF40 #MACROECONOMIC POLICY REPORT The Great Depression and Roosevelt’s New Deal by senior fellow Zhang Bin: new.cf40.org.cn/uploads/ZB2020… #COVID19 #novelcoronavirus #economics
The #GreatDepression and Roosevelt’s #NewDeal are very precious historical treasures, of enduring significance to future generations as to avoid great depressions, carry out relief programs,reinvigorate economy &implement reforms.Key measures for the current crisis may include:
1. Maintaining credit growth and preventing deflation are cure for avoiding severe depression. The excessive tightening of credit led to the Great Depression, which ended following the restoration of credit, and economy could not recover from the Great Depression without help.
#CF40 #MACROECONOMIC POLICY REPORT: The Great Depression and Roosevelt’s New Deal led by senior fellow Zhang Bin: new.cf40.org.cn/uploads/ZB2020… #COVID19 #novelcoronavirus #economics
The novel coronavirus is wreaking havoc on China and the global economies, as economic activities come to a standstill and unemployment rate skyrockets. The #GreatDepression and the #NewDeal are valuable experience and lessons for the current economic situation.
1. Maintaining credit growth and preventing deflation are cure for avoiding severe depression. The excessive tightening of credit led to the Great Depression, which ended following the restoration of credit, and economy could not recover from the Great Depression without help.
