日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / Economy

Europe likely to send hot money to China

By CECILY LIU (China Daily) Updated: 2015-03-02 07:38

Europe likely to send hot money to China

Photo taken on March 16, 2014, shows yuan (central) and other currencies in the picture. [Photo/IC]

Dramatic monetary policies in Europe have lots of potential to create a new surge of hot money inflow into China, says Simon Derrick, chief currency strategist at the Bank of New York Mellon.

Hot money is speculative money that flows quickly between markets as investors cast about for high interest rates and returns. It can create distortions in sufficient quantity.

This impact is similar to that caused by quantitative easing by the US Federal Reserve on China in 2009, when excess money created was looking for a home in a high growth economy, Derrick says.

Europe likely to send hot money to China

Simon Derrick, the chief currency strategist at the Bank of New York Mellon, says China has made strides to liberalize its currency to allow freer trade and investment flows in and out of the country.

As China experiences this inflow of hot money, it is tempting to introduce exchange rate controls similar to a repeg of the renminbi to the US dollar, he says, but such measures are not advantageous for the longer term.

"The temptation is to step in and intervene, but the problem is that you'd simply end up with the same old reserve policies and reserve problem that characterized the currency war for the last 25 years," says Derrick.

Instead, the brave thing for China is to decide that it has committed to liberalizing the currency, so it should use monetary policy to control inflationary pressures, he says.

"I hope that will happen, as it shows that the People's Bank of China, and more generally the Chinese government, have had faith in what they were doing. I really do believe what's happened over the last 18 months is an important step and I'd like to see it continue to happen," says Derrick.

The two events in Europe that Derrick made reference to are the European Central Bank's intention to execute quantitative easing in March and the introduction of a negative interest rate by the Swiss National Bank.

According to European Central Bank announcements in January, at least 1.1 trillion euros will be injected into the ailing eurozone economy.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 爱爱久久 | 好吊视频一区二区三区 | 在线午夜视频 | www.国产欧美 | 国产中文字幕在线视频 | 思思久久久 | 老司机午夜精品视频 | 精品在线看 | 久草福利在线观看 | 欧美激情视频在线播放 | 国产精品久久久 | 日本久久久久久久久久久 | 热热色av| 在线精品观看 | 成人午夜网站 | 久久久久久久久国产精品 | 久久国产精品免费观看 | 欧美在线视频一区二区 | 亚洲第一视频在线观看 | 激情五月婷婷网 | 国产一区二区视频网站 | 亚洲欧美日韩免费 | 久久一二区| 成人免费视频播放 | 亚洲在线中文字幕 | 亚洲视频天堂 | 91看看| 婷婷色图 | 国产色一区 | 亚洲高清视频在线播放 | 男人的午夜天堂 | 黄片毛片在线观看 | 成人资源在线观看 | 国产精选第一页 | 欧美日一区二区三区 | 有码av| 不卡三区 | 午夜免费观看 | 免费成人激情视频 | av男人的天堂网 | 亚洲va在线 |