Experts on financial Development and economic growth

When did the global economy hit bottom? Shanghai International Financial Center How to move forward next? How does finance play a role in promoting economic growth?　　In the two-day "2009 Lujiazui Forum", these issues are becoming more and more clear in the discussions among the participants. The outlook for the global economic recovery is stark and divided: economists, represented by Columbia University professors, Nobel laureate in economics and Dr Stephen Roach, chairman of Morgan Stanley Asia, are pessimistic about the global economic recovery. In an interview with our correspondent, Roach said that the "shoots" of global equities and economic recovery over the past two months were unsustainable, and that the world was mired in one of the worst crises and recessions of the second post-war period.　　Stiglitz has made it more clear that the "bud" of the global economic recovery may turn yellow this summer, and that a real recovery in the global economy is still a long way off. Optimists have their own. Economists at the high Grand China Regional chairman, Wang Qing, chief economist at Morgan Stanley Greater China, point to the Fred of the global economic recovery. Hu points to a slowdown in the US economy's freefall, if it lasts until the second half of this year, at least at the end of the season, when the US economy is likely to rebound and a modest recovery by 2010.　　Wang said that from the world's three largest economies, the economy could bottom out in the four quarter, with a recovery in the second half, especially in the second half of 2010, and a more visible recovery. In this forum, Shanghai International Financial Center Construction has become the most popular topic, compared to the last session of the Shanghai International Financial Center construction of the discussion, the topic of this forum more specific, and in this forum on the construction of Shanghai International Financial Center, a number of substantive measures are also intensively launched. During the forum, the CIRC signed a memorandum of cooperation with the Shanghai municipal Government to promote the implementation of the Shanghai International Financial Centre strategy through a number of measures in the area of insurance.　　In addition, China Financial Information building in the Forum during the foundation, the Xinhua News agency formally took the strategic cooperation with the Shanghai municipal government substantive steps to create a financial information aircraft carrier. For the current economic and financial development in the process of problems, a number of participants put forward a positive warning. Cai Hongping, Asia's chairman of UBS Investment Bank, has reminded Chinese investors that many industries in the global market are now surplus and need to be treated with caution. "The auto industry is 25%, the steel industry is 28%, the shipbuilding industry is over 60%, the electricity surplus is 25%, the mining surplus is nearly 30%, some of them are global surplus, others are surplus in China." "Cai Hongping repeatedly stressed that the current market has a considerable number of industrial surplus phenomenon, investors must avoid blind investment."