Ms merkel fears behind Japan
When China's safe is not sure how much "hot money" flowing into China, davos BBS on Europe launched an attack of Japan's ultra-loose monetary policy.There is no doubt that every nation want to loose, others don't wide, thus make oneself in the international economic, trade, competition advantage.But, in Europe to the United States and Japan currency ultra-loose discontent, actually oneself also not clean, they are, after all, to market a 1 trillion euro currency.This is Angela merkel to attack Japan, attitude is polite, and gradually withdraw 1 trillion euro currency as apremise.In fact, many European countries including the UK, with such a state of mind, want to with tolerance to oneself already, also want to criticize others.We see that only the Swiss national bank said is tough, they point out that even if the Japanese this by keeping their currencies to enhance the competitiveness of spread, "the global economy will to risk."However, when the Swiss franc avoid appreciation and practical pegged to the euro, condemned the Swiss also must perform with the eurozone considerable easing.
This is one of today's world economy big contradiction.Every developed country are hoping their currencies, currency appreciation of others, make oneself benefit;But all understand, who are doing this, is to launch a currency war, and among them who are not good, there are no winners.Who can stop it?No.
International hard currency spam has two direct consequences, one is the threat of resource product prices, it would be a disaster of manufacturing, is the world price of disaster;The second is the rocketing price of capital goods, "hot money" around.To tell the truth, only the United States has the ability to control resource product prices, other countries in addition to basic can put pressure on us.So, the countries can do is "control domestic liquidity.
At present, Brazil, Indonesia, South Korea, Peru, Thailand and many other weak currency countries have adopted the capital controls, refused to large-scale capital flow may bring their own economic impact.And on this issue, since the launch of the motivation for QE1 had already started.China also do it, but doing is not very smart & # 8213;The & # 8213;Policy "disturbance", enables us to PM2.5, even fresh air blow out.
Why so big efforts to ease monetary Japan?Here, I'm afraid there are helpless.First of all, if you don't follow the loose and yen will rise sharply.In fact since the financial crisis, and the yen has been in a state of stable from the past in the level of 110 yen to the dollar, rise to 80 yen to the dollar.For a country to export as the economic core, apparently huge pressure.Japan's trade conditions are worsening in recent years, in addition to expect China to provide surplus, other trade in the direction of the pressure.
Second, Japan besides big efforts to government investment and ease monetary, shrinking its domestic manufacturing industry, which is dozens of Japanese government in the face of the Japanese economy a little of the key reasons.So, it only hope is to export, no matter how the exchange rate.
Is also for this reason, Japan needs to live alongside the United States, then worry about the United States forbid it ease monetary;2 will expect the United States don't raise trade barriers on Japanese goods.So, Japan to act as "pawn" of American asia-pacific strategy, otherwise I am afraid that the Japanese is to leave the United States.In fact, it is high time we see, the United States to Japan's attitude with the opposite in China.Is also the main surplus countries exports to the us, the only require an appreciation of the renminbi, the implementation of anti-dumping on Chinese goods, but has been to Japan.
Europeans very understand the intention, I know I can't stop the United States and Japan on the currency, so adopt the way of "cry" to milk to drink, this is the purpose of the European constantly playing with the European crisis, "as possible on the premise of less on the currency, to suppress the euro currency against the dollar.They are successful, but is now emerging in Japan, so that Germany will feel the pressure in the first place.Because, Japanese and German industrial isomorphism sex is very strong, is also a main rival in the international market.Japan to drive
down the value of practice, clearly will suffer.
Germany also can depress the Chinese currency?No, at least not so convenient in Japan, after all, the euro zone is not a German word.China what should I do?Use neutral monetary policy is good, but don't squeeze.
Joint institute of commerce and the city on CCTV securities information responsibility media co-sponsored - China's securities investment trust project, in line with the aim of "mine" of China's stockmarket, emphatically for Chinese investors to create a "trust investment, comfortable life" good environment.