The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose “significant risks” for the global economy.
The fund said in its benchmark Fiscal Monitor that it expected the US to record a fiscal deficit of 7.1 per cent next year — more than three times the 2 per cent average for other advanced economies.
It also raised concerns over Chinese government debt, with the country set to record a deficit of 7.6 per cent in 2025 — more than double the 3.7 per cent average for other emerging markets — as Beijing copes with weak demand and a housing crisis.
The US and China were among four countries the fund named that “critically need to take policy action to address fundamental imbalances between spending and revenues”. The others were the UK and Italy.
Rampant spending by the US and China in particular could “have profound effects for the global economy and pose significant risks for baseline fiscal projections in other economies”, the IMF said.
The assessment comes amid mounting concerns among economists and investors that 2025 will prove a crunch year for US fiscal policy.
The presumptive Republican presidential nominee Donald Trump has pledged to make his 2017 tax cuts permanent, a move the Committee for a Responsible Federal Budget think-tank expects to cost $5tn over the next decade. Democrats have been accused by Republicans and economists of doing too little to cut “discretionary spending” on healthcare and social security.
On Tuesday, IMF chief economist Pierre-Olivier Gourinchas said… Lire la suite
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Compte tenu des impacts mondiaux potentiels de la dette américaine, dans quelle mesure les décisions financières individuelles et le comportement des consommateurs devraient-ils en tenir compte ?
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Comment l’idée selon laquelle les décisions financières d’un pays peuvent déclencher des troubles économiques à l’échelle mondiale vous fait-elle réfléchir à l’interconnectivité mondiale ?
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Seriez-vous favorable à une augmentation des impôts ou à une réduction des dépenses gouvernementales si cela signifiait stabiliser l’économie du pays et protéger la santé financière mondiale ?
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Quelle responsabilité morale, le cas échéant, les pays ont-ils pour maintenir la stabilité financière afin d’éviter un impact négatif sur l’économie mondiale ?
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Que ressentiriez-vous si l’argent que vous économisez aujourd’hui perdait de sa valeur plus rapidement à cause de la dette d’un autre pays ?