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| Economists Foresee Minor Impact on U.S. Economy From Terror Attacks |
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THU, OCT 11, 2001
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新华网马尼拉１０月１１日专电 菲律宾政府的一位官员１１日宣布，菲总统格洛丽亚·马卡帕加尔·阿罗约将于１８日至２０日之间对美国进行访问。访问期间，阿罗约不仅要会见美国总统布什，还将在联合国大会上发表演说。
这位官员称，阿罗约将和布什就如何在国际范围内打击恐怖主义、地区安全和加强两国合作等问题进行广泛磋商。此外，阿罗约还将会见美国防部官员和部分参众两院议员并参观当地的菲律宾人社区、坍塌的世贸大楼以及遭受撞击的五角大楼。
美国宣布对阿富汗塔利班实施军事打击后，阿罗约曾表示全力支持这一行动，还开放了菲律宾的领空、机场和其他一些军事设施供美军使用。
据悉，这次美国之行将是阿罗约执政后的首次访美
took only a single quarter for the economy to fully recover after these disasters.
On the other hand, no past national crises and wars, such as the Korean conflict, Vietnam war, Gulf War and the Oklahoma City bombing, had been associated with a substantial decline in consumer spending or more generally an economic downturn, Thornberg added.
He said the 1990-1991 recession was not caused by a collapse of consumer confidence because of the Gulf War, but by a spike in crude oil prices and a decline in investment which preceded the war.
Thornberg said that while September 11 attacks in New York and Washington, which caused an economic loss of 14 billion U.S. dollars, would cause short-term shock to the economy, they will not have long-term impact as long as the consumer confidence and the dollar remain strong.
In a study on the economic impact of the terror attacks, Thornber and coauthor Professor Edward Leamer, blamed the current recession for "the very disappointing profits that have come from the extraordinarily high level of Information Technology (IT) investments made during the Internet Rush from 1996 to 2000."
"Slow or negative growth will be with us until businesses can figure out how to squeeze reasonable levels of profits from IT investments, or until the excess IT capacity is eliminated by depreciation and technological obsolescence," the report said.
Thornberg also criticized the U.S. governments on different levels and the media for "overreaction" to the terror attacks by playing up the terror threats and creating a sense of insecurity that severely damages the airline industry, which is crucial to encouraging the consumption.
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