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DIFFICULTIES OF LEADING ECONOMIES OF THE WORLD MAY DEVELOP INTO A SOCIAL CRISIS IN A NUMBER OF COUNTRIES
by Elita Babayan
ARMINFO
Thursday, July 11, 12:56
The difficulties of the leading economies of the world may develop into
a social crisis in a number of countries, Xiaohua Yang, a well-known
Chinese economist, Professor at the School of Management at USF,
said during a scientific forum dedicated to post-crisis state of the
world economy and the economic reforms in China.
Xiaohua Yang shares the opinion that the decline in the world demand
(including China's demand) for mining products will inevitably lead to
tangible decline in the their sale income in Armenia as well. It should
be noted that mining products make up about 40% of Armenia's exports.
The economist pointed out that the aggravation of the public
polarization problem may develop into a social crisis. This process
is especially typical to the countries with high corruption and
monopolized economy.
Professor Xiaohua Yang stressed that Armenia has a big intellectual
potential, and its effective use may take the country out of the
economic crisis. She said that the country needs to expand the trade
and economic relations with its neighbors.
by Elita Babayan
ARMINFO
Thursday, July 11, 12:56
The difficulties of the leading economies of the world may develop into
a social crisis in a number of countries, Xiaohua Yang, a well-known
Chinese economist, Professor at the School of Management at USF,
said during a scientific forum dedicated to post-crisis state of the
world economy and the economic reforms in China.
Xiaohua Yang shares the opinion that the decline in the world demand
(including China's demand) for mining products will inevitably lead to
tangible decline in the their sale income in Armenia as well. It should
be noted that mining products make up about 40% of Armenia's exports.
The economist pointed out that the aggravation of the public
polarization problem may develop into a social crisis. This process
is especially typical to the countries with high corruption and
monopolized economy.
Professor Xiaohua Yang stressed that Armenia has a big intellectual
potential, and its effective use may take the country out of the
economic crisis. She said that the country needs to expand the trade
and economic relations with its neighbors.