HONG KONG, Nov. 18 (Xinhua) -- As the US economy is still plagued by sub-par growth, high unemployment and disinflation, the attempt to expedite the process of its recovery by the second round of quantitative easing (QE2) seemed unrealistic, said Bank of China (Hong Kong) in its latest economic review released on Thursday.

Combined with the reinvestment scheme of QE1, the 600-billion- US-dollar QE2, launched this month, can buy up to 110 billion US dollar's worth of US treasuries each month, providing sufficient funding for the fiscal deficit and supporting fiscal stimulus, said a research paper on BOCHK's monthly review.

However, monetizing the federal debt will be at the expenses of the US dollar's stability, and the inflationary and asset bubble pressure in the emerging markets, creating new uncertainties in the global economies and financial markets, the research analyzed.

Meanwhile, the quicker return of the US economic recovery and inflation, the dumping of US treasuries by emerging markets, and the outbreak of new crisis in certain economies, could be three possible crisis triggers that the global financial markets will be confronted, the research said.

The research also pointed out that QE1, which totaled 1.7 trillion US dollars of bonding buying, was an effective crisis containment measure by helping to avert more collapse of large financial institutions and the spreading of the crisis.