The economy was stuck in a
stagflationary quagmire, with high inflation and stagnant growth.
经济陷入了滞胀的困境，通货膨胀高企且增长停滞。
The combination of rising unemployment and soaring prices is a textbook case of
stagflation.
失业率上升和物价飙升是典型的滞胀情况。
The oil crisis of the 1970s triggered a global
stagflation that lasted for years." (1970年代的石油危机引发了全球范围的长期滞胀。
Economists debate whether the current economic situation is better described as recession or
stagflation.
经济学家们争论当前的经济状况更适合描述为衰退还是滞胀。
The government's fiscal policies were blamed for exacerbating the
stagflation problem.
政府的财政政策被认为加剧了滞胀问题。
In
stagflation, traditional monetary policies may prove ineffective in curbing inflation while stimulating growth.
在滞胀期间，传统的货币政策可能在抑制通胀的同时无法有效刺激经济增长。
The company struggled to maintain profitability amidst
stagflation, as both costs and demand remained unpredictable.
公司在滞胀环境下努力维持盈利能力，因为成本和需求都难以预测。
The central bank faced the challenging task of balancing interest rate hikes to combat inflation without triggering a recession or worsening
stagflation.
中央银行面临着艰巨的任务，需要在对抗通胀的同时上调利率，而不引发衰退或使滞胀恶化。
Some analysts predict that the ongoing trade war could lead to
stagflation in affected economies.
一些分析人士预测，持续的贸易战可能导致受影响经济体出现滞胀。
During the
stagflation period, workers demanded higher wages to cope with inflation, further fueling the cycle.
在滞胀时期，工人们要求提高工资以应对通胀，这进一步加剧了这种循环。
Amid rising risks of stagflation worldwide, Zhang said, "the stable economic growth in China would continue to play an important role for the recovery and growth of the world economy. "
张说，在全球滞胀风险不断上升的情况下，“中国经济的稳定增长将继续对世界经济的复苏和增长发挥重要作用。”
In fact, market economies have been witness to various transitions — from pre-capitalist laissez-faire policies to Keynesian stimulus measures during the 1929-39 Great Depression, followed by post-war socialist welfare programs, active monetary policies during periods of severe inflation, and the emergence of supply-side measures during times of stagflation, emphasizing tax cuts and reforms.
For example, amid the global stagflation, China has cost advantages brought about by its large-scale manufacturing sector, which is one solution to stagflation.
Looking at the three major economies around the world, the US economy is moving from stagflation to mild recession, the European economy is moving from recession to deep recession, and China's economy is bottoming out to mild recovery.
To begin with, the economies of the US and Europe have slipped into stagflation, a combination of recession accompanied by high and rising inflation, which is a key factor behind China's sharp decline in exports.
More efforts are therefore still needed to consolidate the foundation of China's economic growth, NBS head Kang said, given the stagflation risk facing the world economy and the lingering pressures facing the domestic job market and the operation of enterprises.
To sustain inclusive global development despite the mounting challenges of geopolitical tensions, stagflation risks and rising debts, experts underlined the necessity to maintain the rules-based trading regime and amplify the role of multilateral and regional cooperation mechanisms.
Apart from the fact that external demand will continue to slow under the impact of global stagflation next year, more importantly, downward pressure is still there weighing on the economy, resulting in shocks to the market and expectations.
Over the past year, due to the impact of extremely loose global liquidity and supply chain bottlenecks, coupled with the Russia-Ukraine woes, global inflation levels have continued to rise, reaching the highest level in nearly 40 years and becoming the most severe round of stagflation since the 1970s.
Compared to the 1970s, the current round of global stagflation involves a large number of countries, with the major developed countries represented by the Organisation for Economic Cooperation and Development experiencing varying degrees of stagflation.
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