The Eurozone economies have been struggling with high unemployment rates.
欧元区国家的失业率一直居高不下。
Despite the recent economic downturn, the Eurozone's GDP has shown resilience.
尽管近期经济衰退，欧元区的GDP显示出了韧性。
One of the main challenges for the Eurozone is maintaining price stability.
维持价格稳定是欧元区面临的重大挑战之一。
The Eurozone countries have implemented various fiscal policies to stimulate their economies.
欧元区国家实施了各种财政政策来刺激其经济。
The Eurozone faces the risk of deflation due to low inflation rates.
由于通货膨胀率低，欧元区面临通货紧缩的风险。
The European Central Bank plays a crucial role in setting monetary policy for the Eurozone.
欧洲中央银行在制定欧元区货币政策中扮演着关键角色。
The Eurozone's banking system has undergone significant reforms following the financial crisis.
在金融危机之后，欧元区的银行业体系进行了重大改革。
There is ongoing debate about the benefits and drawbacks of the Eurozone's single currency.
关于欧元区单一货币的好处和弊端，存在着持续的辩论。
Integration within the Eurozone has led to increased trade among its member states.
欧元区内成员国之间的整合导致了贸易量的增加。
The Eurozone's debt crisis in 2010-2012 highlighted the need for stronger fiscal discipline.
的欧元区债务危机凸显了加强财政纪律的必要性。
Wang Yiming, vice-chairman of the China Center for International Economic Exchanges, said China's 2023 GDP is significantly higher than that of major economies, including the United States, the eurozone and Japan.
Wang Yiming, vice-chairman of the China Center for International Economic Exchanges, said most institutions forecast China's GDP will rise by around 5.2 percent this year, significantly higher than that of major economies, including the United States, the eurozone and Japan.
"The growth rate also outpaces economies such as the United States, the eurozone economy, Japan, Brazil, Russia and South Africa, maintaining a leading position among the world's major economies.
China's core inflation in the second quarter of 2023 was 0.3 percent, compared with 4.6 percent in the eurozone and 4.7 percent in the US, according to the latest IMF statistics.
Citing BCA Research, Xie said China has been the source of more than 40 percent of global growth over the past decade, compared with 22 percent from the US and 9 percent from the eurozone.
In particular, the manufacturing PMI of the eurozone and the UK continued to dip in May, down 1.2 and 0.9 points, respectively, from the previous month, which bodes ill for sustaining global growth momentum.
The risk of recession in the United States is relatively low at present, but the odds are high for the eurozone and the United Kingdom to enter a recession or even negative growth in 2023.
During the first 11 months of 2022, the inflation rate, as measured by the consumer price index, was 8 percent in the United States, 8.4 percent in the eurozone and 8.9 percent in the UK, sparking public complaints and protests.
For example, US growth will slow to 1.4 percent in 2023 as Federal Reserve interest-rate hikes work their way through the economy, and the growth is expected to bottom out at 0.7 percent this year in the eurozone, where conditions are more challenging despite signs of resilience to the energy crisis, a mild winter and generous fiscal support.
Gourinchas noted that India and China will account for half of global growth this year, versus just a 10th for the US and eurozone combined.
They commented after China recorded 4.5 percent average annual growth from 2020 to 2022, which is projected to outrun global growth of about 2 percent during the same period as well as the growth of other major economies, such as the United States and the eurozone.
In 2022, China's CPI grew by 2 percent, a fraction of the increases reported in the United States, the eurozone, and Britain.
"The mild winter has cushioned the harmful effects of the energy crisis in the eurozone, and China's rapid reopening after the COVID-19 lockdowns is returning the country to as a strong driver of the global economy, Tuuli Koivu, chief economist at Nordea Bank, said.
The tight labor market and rising inflation in the United States and the eurozone may result in a return to tighter monetary policy and an economic slowdown.
In contrast, inflation in major advanced economies — the United States, the eurozone and the United Kingdom — as measured by CPI, was about 8 percent, above 8 percent and about 9 percent, respectively.
For the eurozone, flat GDP growth is expected, which was also a downward revision of 1.9 percentage points.
While inflation in major advanced economies like the United States, Eurozone and the United Kingdom, as measured by the consumer price index, hit around 8 percent, above 8 percent and around 9 percent respectively.
For the eurozone, growth is expected at zero percent, also a downward revision of 1.9 percentage points, while in China, projected growth at 4.3 percent in 2023 is 0.9 percentage point below the forecast the World Bank made half a year ago.
The Eurozone economy is projected to grow at 0 percent, down 1.9 percentage points from the previous forecast.
Recently, inflation in the United States and the European Union has risen significantly, with the US CPI exceeding 7.5 percent for six consecutive months and the eurozone CPI hitting a new high of 10.7 percent.
As of the end of October, the cumulative year-on-year increase in China's 2022 consumer price index was only 1.9 percent — significantly lower than the 8.3 percent in the US and 7.6 percent in the eurozone.
Experts said the falling CPI and PPI readings have painted a picture of subdued inflationary pressure in China while many major economies, such as the United States and the eurozone, are still raising interest rates to curb lingering high inflation.
"The sharp divergence between PPI inflation in China and the Eurozone (43.3 percent year-on-year in August) suggests China may be gaining a competitive advantage in manufacturing that could help bolster China's exports," said Lu Ting, chief China economist at Nomura.
The three largest economies, the United States, China and the eurozone, will continue to stall, Pierre-Olivier Gourinchas, the economic counselor and director of research for the IMF, wrote in a blog published on Tuesday.
The slowdown is most pronounced in the eurozone, where the energy crisis, following the conflict in Ukraine, will continue to take a heavy toll, reducing growth to 0.5 percent in 2023.
Annual inflation for July in the eurozone was up by 8.9 percent according to Europe's statistics office Eurostat, while US consumer inflation in July surged 8.5 percent from a year ago.
"As stagflation pressures and debt risks cloud growth prospects, the attractiveness of the eurozone to global investors has dimmed, with the euro sinking below parity against the US dollar for the first time in 20 years, roiling financial markets last week as a result.
In recent days, as stagflation pressure and debt risks clouded growth prospects, the attractiveness of the eurozone for global investors has weakened, with the euro down to parity against the dollar last week for the first time in 20 years.
Liang Haiming, dean of Hainan University's Belt and Road Research Institute, said it is generally believed that for every 1 percentage point decline in eurozone economic expectations, the euro will fall by 2 percent against the dollar.
Considering factors including the eurozone's economic slowdown, the energy shortage amid geopolitical tensions, high inflation risks and the rise in imported product prices from a weaker euro, he said that will leave open the possibility that the European Central Bank may adopt stronger policies, such as raising interest rates.
The US consumer price index (CPI) in June marked the largest 12-month increase since November 1981, and inflation for the eurozone hit a record high of 8.6 percent in the year to June.
The CPI in the US and major economies of the eurozone surged more than 8 percent in May year-on-year.
The situation further deteriorated in the eurozone in June.
In May, the consumer price index in the US, Germany and France hit levels not seen since the 1980s and that of the eurozone also hit highs for six consecutive months.
The influence of the record-high producer price index in the US and the eurozone has spread to developing countries and newly emerging markets.
The money supply grew at a peak rate of 12.4 percent in the eurozone in January 2021.
For the eurozone, the number was lowered to 3.9 percent from 5.2 percent last year.
Data from the National Bureau of Statistics showed China's Consumer Price Index, a main gauge of inflation, rose 0.9 percent year-on-year in January, much lower than the levels of 7.5 percent and 5.1 percent in the United States and the eurozone, respectively.
Meanwhile, China's Producer Price Index, which gauges factory-gate prices, rose 9.1 percent from a year ago, lower than the over 20 percent increase in the eurozone.
The US manufacturing capacity utilization rate has rebounded to 77.3 percent in October, and that in 19 eurozone countries in November was 82.7 percent－both close to pre-COVID levels.
For example, Eurostat, the statistical office of the European Union, said last week that eurozone annual inflation is projected to rise to 3 percent in August, the highest in almost a decade.
Moreover, the global economy will expand by 5.6 percent this year, and the figure in the US and the Eurozone will be 6.8 percent and 4.2 percent, respectively, according to the World Bank.
Credit Suisse also predicted the global economy is expected to grow 5.9 percent this year, with China surging 8.2 percent, the US 6.9 percent and the Eurozone 4.2 percentAccording to a research institute at the Bank of China, the country's GDP growth will be 8.8 percent this year.
In 2020, the US GDP fell by 3.5 percent, shallower than the 6.8 percent contraction of the eurozone.
The gulf may grow this year as the US economy is projected by the Organisation for Economic Cooperation and Development to rebound by 6.5 percent this year, compared with 3.9 percent of the eurozone.
Global trade reached its pre-pandemic peak in November, but the United States, eurozone and many emerging markets are still short of normal levels.
Core inflation will stay well below target in the eurozone and the European Central Bank will continue to purchase assets through 2022, according to the report.
Indicators show moderate growth signs in the 19-member eurozone, while those of Britain pointed to continued slowdown due to uncertainty over a post-Brexit trade deal, which is under negotiation.
In the United States, the GDP is expected to contract by 3.7 percent this year and the eurozone will witness a 7.5-percent contraction.
"The US GDP will grow by 3.2 percent in 2021 and 3.5 percent in 2022 after seeing a 3.7 percent contraction in this year, whereas the eurozone's will shrink 7.5 percent in 2020, before growing by 3.6 percent and 3.3 percent in the next two years, the report said.
The CPB's figures indicate that while exports from China and other developing countries in Asia had already surpassed their pre-pandemic levels in September, exports from the eurozone were still down 2.6 percent, and exports from the US down almost 9 percent.
The IMF forecast that the US economy would contract 4.3 percent this year, and that of the eurozone was expected to fall 8.3 percent.
国际货币基金组织（IMF）预测，今年美国经济将收缩4.3%，而欧元区的经济预计将下滑8.3%。
As of April 2019, the global official gold reserves totaled 34,023.87 tonnes, of which the eurozone (including the European Central Bank) held 10,778.5 tonnes.
The flash IHS Markit manufacturing PMI of the eurozone fell to 51.5 in November, the lowest since May 2016, while that of the United States slowed to 55.4 from 55.7 in October.
Amid such headwinds, the return on equity of China's banking sector remained as high as 10.8 percent in 2022, slightly lower than the 11.6 percent in the US over the same period, but significantly higher than the 6.3 percent level seen in the eurozone.
Judging from the various second-quarter banking regulatory indicators announced by the government, the balance of loan loss provisions by commercial banks was 6.6 trillion yuan, and the provision coverage ratio was 206.13 percent — much higher than the 45.9 percent in the eurozone for 2022.
In terms of international payments, excluding payments within the eurozone, the RMB ranked sixth with a share of 2.73 percent in September, up from 2.59 percent in August.
In terms of international payments excluding the Eurozone, the RMB ranked 6th with a share of 2.59 percent.
In terms of international payments excluding the Eurozone, the RMB ranked 6th with a share of 1.51 percent.
Second, the end of negative interest rates in the eurozone should make the euro a more worthy alternative to the dollar than it used to be.
Explaining the reason for the 50-basis-point rate hike, ECB President Christine Lagarde said that core price pressure remains strong, and so does wage pressure in the eurozone.
In terms of international payments excluding the Eurozone, the RMB ranked eighth with a share of 1.48 percent last month.
In terms of international payments excluding the eurozone, the RMB ranked seventh with a share of 1.47 percent.
Expectations of further US Federal Reserve tightening combined with rising risks of stagflation in the eurozone have pushed the greenback to a 20-year high.
In terms of international payments excluding those within the Eurozone, the RMB ranked sixth with a share of 1.51 percent.
Regarding international payments, excluding those within the Eurozone, the RMB ranked sixth, with a share of 1.45 percent in June 2022.
In terms of international payments excluding payments within the Eurozone, the RMB ranked sixth with a share of 1.43 percent last month.
Eurozone annual inflation also jumped to 8.1 percent in May, versus 7.4 percent in April.
Both Germany's DAX and Euro Stoxx 50 monitoring Eurozone counters reported a 4 percent loss in early trading hours.
In terms of international payments excluding payments within the Eurozone, the RMB ranked fifth with a share of 2.29 percent in January 2022.
In terms of international payments, excluding payments within the Eurozone, the RMB ranked sixth with a share of 1.91 percent in December 2021.
In terms of international payments, excluding payments within the Eurozone, the RMB ranked 6th with a share of 1.91 percent in December 2021.
In terms of international payments, excluding payments within the eurozone, the RMB ranked 6th with a share of 1.38 percent in November 2021.
Markets are pricing in the possibility that central banks in the United States, the eurozone and the United Kingdom will likely raise interest rates at least once by the end of this year.
The 10-year treasury bond yield in China stood at around 2.9 percent, more than double that in the United States and much higher than the negative returns in the eurozone.
In April, their holdings of such bonds rose by 51.74 billion yuan month-on-month, according to China Central Depository and Clearing Co. Financial conditions have continued to improve in the United States, the eurozone and the United Kingdom, according to research by Moody's Investors Service, while such conditions in emerging markets have recovered to their historical average.
The eurozone was down by 6.8 percent and is tipped to rise by 3.9 percent this year, while the United Kingdom will likely rebound to 5.1 percent from a drop of 9.9 percent, and Japan may rise to 2.7 percent from (minus)-4.8 percent.
Studies have shown that an important reason for the low level of prices in the eurozone is that loose policies have made it easy for "zombie" companies to obtain low-cost funds, and the inability in letting the excessive production capacity exit the market has resulted in low prices.
In terms of international payments, excluding those within the eurozone, the RMB ranked as eighth with a share of 1.09 percent in October, it said.
"Japan, the US and the Eurozone have announced zero or even negative interest rates, reducing their currencies' performances.
The United States, the eurozone and Japan will likely account for more than half of the rise globally, according to S&P Global research.
The eurozone and Japan have adopted zero or negative interest rate for about four years.
In a March 12 research note, JPMorgan Chase predicted that the US economy would decline 2 percent in the first quarter year-on-year and 3 percent in the second while the eurozone would decline 1.8 percent and 3.3 percent in the same periods.
The eurozone economic model depends on international debt.
The direct impact of the novel coronavirus pandemic is likely to be relatively small, but the impact on the already very fragile Italian economy is likely to provoke another Eurozone financial crisis.
"We prefer emerging market equities, given China's relative success in containing the virus, and are more cautious on eurozone stocks, where there is now significant uncertainty over the potential economic impact of the outbreak," he said.
Currently, more growth-sensitive equity markets in the eurozone, Japan, China, and other emerging markets are favored, while expected volatility from the presidential election and potential changes in US economic policy may disadvantage US equities over their international peers in 2020, according to a bi-annual report issued by UBS Asset Management on Monday.
Greece, which is a member of the European Union, a eurozone country and a full member of the China-Central and Eastern European Countries (CEECs) cooperation mechanism, has signed an MOU with China over cooperation in the Belt and Road Initiative.
In terms of international payments excluding payments within the eurozone, the yuan moved up by one position to the seventh place with a share of 1.42 percent in August, the SWIFT said.
"(The economic situation of) China has been stable with solid development foundation, which is the biggest reason why global capital favors the country," Huang said, citing the dampening effect of Brexit on the eurozone and emerging market debt issues such as those in Argentina and Turkey on global investors' confidence in these economies.
China ranked top globally in terms of foreign exchange reserves by the end of last year, with a total of $3.07 trillion, followed by Japan ($1.27 trillion) and $623 billion in the Eurozone area, according to the IMF.
In terms of international payments, excluding payments within the eurozone, the RMB ranks 8th with a share of 1.28 percent in June 2019.
The long-term yields of the treasury bonds in the eurozone and Japan have even dropped below zero, according to China International Capital Corp (CICC).
On May 29, Portugal became the first eurozone country to issue renminbi-denominated bonds.
Interest Portugal would pay on renminbi-denominated bonds would be higher than that on comparable debt in the eurozone, said Ricardo Mourinho Felix, Portugal's secretary of state for finance, at a recent conference.
Economists also forecast that the European Central Bank is likely to deliver stronger dovish policy signals, if the eurozone shows more signs of weakness.
China's banking industry had surpassed that of the Eurozone and the United States three years in a row when it comes to tier-1 capital, total assets, and total pre-tax profits, according to Yuan Xiaohui, a researcher from Bank of China's Institute of International Finance.
By the end of last year, according to research by Herbert Poenisch, a former senior economist at the Bank for International Settlements, China's M2 outstanding reached 300 percent of GDP, compared with 75 percent in the US and nearly 100 percent in the eurozone even after years of quantitative easing.
Positive economic growth forecasts for 2018 for all the major advanced economies like the eurozone, Japan, and the United States have boosted the rise in bond yields in emerging East Asian markets, the report says.
Not so long ago (by the end of last year to be precise), Chinese banks' assets reached $33 trillion, surpassing the eurozone as the world's largest banking system.
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