Serial Number Wifi Rehacker Version 1.0 Finall an economic and financial crisis of unprecedented scale with no clear end in Russia. 5.5. Many countries offer various solutions to the crisis, including the abandonment of the euro, the transition to a national currency system or the creation of a monetary union. Most of these proposals are not capable of ensuring an effective recovery of the global economy. Moreover, many of the proposed solutions do not solve the problem of reducing government spending. Figure 5.1 presents an assessment of options for dealing with the crisis. Two options turned out to be practically unrealizable - the reorientation of international trade relations towards regional zones with a common currency and the transition to a system of regional currency zones. The same possibility of solving the problem exists in different models, which puts it in an unequal position with other options for solving the problem. On the one hand, the most risky scenario - abandoning the peg to the euro - seems undesirable. If we are to avoid catastrophe, there must be only one efficient global manufacturing center outside of Europe, the United States. Otherwise, we can expect a rapid collapse of any remaining global economic systems, primarily Western Europe. But if this scenario is acceptable to everyone, then it really could be the only way out of the crisis. Moreover, it is this scenario that is justified from the point of view of the theory of potoffer income maximization. However, this is not realistic. Current development models based on fixed exchange rates are difficult to control. They cannot be tightened and therefore cannot create barriers to the entry of cheap goods and capital into the markets. Therefore, in the short term, nothing can be changed to prevent the crisis from developing. The situation within a single country cannot be changed either. Since the deficit of its balance of payments is due, first of all, to the unprecedented costs of managing and creating foreign exchange institutions, and not to production needs. It is very difficult to find any effective ways to reduce the payment account deficit. However, this deficit can be reduced by cutting interest payments on loans by four times, investing in infrastructure projects, reviving small and medium-sized businesses and reducing corporate debt. Figure 5.2 shows more moderate alternatives. In accordance with the discussed options for overcoming the crisis, the United States has two options: toughen the policy of low rates and, as a result, consolidate the economy; or try to spend less money than necessary. The ratio between GDP growth and US defense spending will never be able to change any of these decisions. It is also useless to try to mitigate the effects of falling demand 3e8ec1a487
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