FTV News / Reported by Yang Simin and Huang Hongyu in Taipei
Queen Elizabeth II of the United Kingdom passed away, Charles III became the new head of state, and the powerful Prime Minister Truss has just taken office. He is facing many economic challenges in the United Kingdom, including the highest inflation rate in 40 years. Decoupling from Russian energy, rising energy costs, coupled with the continued devaluation of the pound, has recently reached 35.1 yuan against the Taiwan dollar, which has almost halved from the high-end 67 to the present.
Queen Elizabeth II of the United Kingdom passed away and King Charles III succeeded to the throne. Within 12 days of the Queen’s death, businesses and businesses will be closed, and the country will be close to a standstill. Some American media have assessed that there will be billions of dollars in economic losses. But what is more worthy of attention is that the UK is currently facing economic challenges, including high inflation and energy crisis, which are actually difficult.
“King Charles III and the new Prime Minister Truss have to do exactly what is needed to get the UK and the economy out of a pessimistic and hopeless state,” the CNBC anchor reported.
Prime Minister Truss (9.6) said: “I’m going to get the UK going again, and I have a bold plan to boost economic growth through tax cuts and reforms.”
The United Kingdom has changed 4 prime ministers in the past 6 years. The newly appointed Truss has to deal with the economic mess, including the strong dollar, the continuous devaluation of the pound, hitting a new low in 37 years, and the pound against the Taiwan dollar, which reached 67.59 yuan in 2007. In 2009 In 2015, it was between 40 and 50 yuan, and it fell all the way in 2017, and only 35.1 yuan remained in September this year. Even the trade deficit of nearly 36.2 billion US dollars in the second quarter has also weakened the UK’s national strength and attracted attention.
Yin Naiping, an adjunct professor of the Department of Finance at National Chengchi University, pointed out, “This means that the British economy has deteriorated rapidly, and their economic and economic driving engine has begun to stall.”
The UK inflation rate in July reached a 40-year high of 10.1%. At the same time, because of the Ukrainian-Russian war, Europe and Russia were decoupled from energy, facing an energy crisis, and energy bills have skyrocketed. Each household has to pay nearly £3,549 a year, which is equal to With more than 120,000 Taiwan dollars, some people predict that the UK may enter an economic depression in the fourth quarter.
Yin Naiping, an adjunct professor of the Department of Finance at National Chengchi University, said, “The UK’s energy mainly depends on imports, and the trade union is very strong. When the price starts to rise, the so-called spiral interaction between inflation and wages is what we see. The pressure has come to the fore.”
Scholars pointed out that after the United Kingdom left the European Union in 2016, the transitional economic problems have not disappeared, the labor force from the European Union has decreased, high prices and frequent trade union strikes have also affected the local economy. The economy is not as strong as before.
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