Contents & Abstracts
The Global Economic Imbalances and Financial Crisis under the World Economic Fictionalization
Liu Junmin Li Lingyun(3)
Abstract: As the start of the economy fictionalizing, the monetary fictionalizing displays the generalization of the global fictitious asset. As the intensification of the monetary fictionalization, the distinction between the international currency and the non-international currency emerges throughout the world. It provides the opportunity for the international currency issuing countries to obtain large quantity of goods and resources, which brings and deepens the global economic imbalances. The fictionalization of the world economy leads to the global economic imbalances. Since the fictitious economy of the western developed countries is supported by the global real economy, they take advantage of the high growth areas all over the world, enlarge the gap between the wealthy and poor, and lead to the international financial market turbulence and the international currency system crisis. Under the circumstances, China should resolve the current multiple predicament of the macro-economy by internationalizing of RMB, developing and improving the international trade platform of the fictitious economy, and hedging the current account surplus by the capital account deficit. ......