U.S. interest rate hike severely harms economy in developing countries: experts

STORY: U.S. interest rate hike severely harms economy in developing countries: experts DATELINE: May 11, 2022 LENGTH: 00:02:33 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of street views in the U.S. 2. SOUNDBITE 1 (English): RONNIE LINS, Director of China-Brazil Center for Research and Business, Brazil 3. SOUNDBITE 2 (Spanish): JORGE MARCHINI, Professor of Economy, University of Buenos Aires, Argentina 4. SOUNDBITE 3 (Spanish): JORGE MARCHINI, Professor of Economy, University of Buenos Aires, Argentina 5. SOUNDBITE 4 (English): MICHAEL HUDSON, Professor of economics at the University of Missouri-Kansas City, U.S. STORYLINE: The U.S. Fed recently raised its benchmark interest rate by half a percentage point, in response to the highest inflation in the U.S. in 40 years. Experts say that the interest rate hike, the biggest in two decades, could benefit the U.S., but deal a blow to low-income countries and developing economies. SOUNDBITE 1 (English): RONNIE LINS, Director of China-Brazil Center

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• ILEA000963863

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• 2022/5/11 00:00:00

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