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Expert: There won't be double dip recession

07-20-2010 13:49 BJT

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Investors are going through some stressful times - they not only need to watch the daily market, but also keep an eye on the overall economy, both domestically and around the world. Adding to their woes, international investor confidence is low, and the prospect of a double dip recession has been under heated debate. But Fan Gang from the National Economic Research Institution is optimistic.

Fan Gang, President of National Economic Research Institute said "There are negatives to the economy right now, but the threat of a double dip recession has been exaggerated. The sovereign debt crisis in Europe is serious, but Greece and Spain only have hundreds of billions of Euros in debt each. While in the September 2008 U.S. crisis, we were talking about tens of trillions of dollars, and you never knew what prices those derivatives would end up with. So the current debt crisis isn't comparable to the 2008 recession. There will not be a double dip recession."

Editor:Xiong Qu |Source: CNTV.CN

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