Group 6 Rafael Ramos Codeco/Paul Yu/Catherine Chien 29th Academy of International Economic Affairs, MOEA. Taiwan, August 2014.

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Presentation transcript:

Group 6 Rafael Ramos Codeco/Paul Yu/Catherine Chien 29th Academy of International Economic Affairs, MOEA. Taiwan, August 2014

 How United States of America (USA) and Europe Union (EU) Governments faced the 2008 Global Crisis:  USA – Stimulus  EU – Austerity  Importance of the private sector for the effectiveness of these measures.

 Stimulus between 1,2 to 1,5 trillion (6% of the GDP);  Results reached:  GDP growth average of 2% per year since 2009;  Unemployment official rate of 7,5%.

 Government expenditures has been cut by half;  Results reached:  GDP is standstill;  Unemployment rate is 12%.

 --- No more Austerity! Demand the Alternatives---  Ask for living wage  Ask for proper housing  Ask for tax justice  Ask for public ownership for bank

 Firms and households weight on goods and services purchasing;  Uncertainties of investors;  Investments directing to abroad;

 Firms and households weight on goods and services purchasing;  The direct involvment of government in private sector (as part-owners or seating on corporate boards).  EU’s private sector less entrepreneurial and innovative.