The International Financial Crisis Created Opportunities For China.

Of course, the reason why Wall Street became Wall Street has a very deep background, which is the flexibility of the US system.

In this sense, some enterprises are actively buying Wall Street enterprises, reflecting their confidence in the US financial system.

Europe has proposed an astronomical rescue plan, which is actually not a real gold and silver, but a commitment of the government.

This is reflected in the urgency of building confidence under the current crisis situation.

Such a large-scale rescue plan, even for the sake of rapid results, is overcorrected. It may reflect the level of government debt.

If the level of government debt is not sustainable, it can only be solved by printing money.

To a certain extent, it is rather an investment to consider the government's injection or direct investment in various banks as borrowing.

After the crisis is eased, the government can also sell assets again after the normalization of the market order.

It is very likely that the government will make money in the end.

If the government fails to do so, the impact of the crisis on the entire economic system will be more far-reaching for the ordinary taxpayers, so in this sense, the current practice is to take the two evils lightly.

The bubble of European countries is no worse than that of the United States. The reason why Europe is now more powerful than the US is that the European authorities have realized that the past case handling method has been unable to solve the current systemic crisis, so they changed policies and announced large-scale rescue measures to enhance market confidence.

In the short term, these bailouts themselves help stabilize the financial system and strive for a healthy economic trajectory. Policy measures are very beneficial.

If these policy measures fail, these debts will become banknotes when they become real debts. In the long run, the currency depreciation will not be excluded and the risk of upward public goods prices will be generated.

In this sense, if the dollar and euro depreciate sharply and cause inflation, China will have a corresponding countermeasure.

For example, adjust the RMB exchange rate.

Many people did not expect this crisis to be so large and influential.

Looking back, many things can be done well, and there are investment opportunities in crisis.

Looking ahead, in a crisis and in a systemic crisis, the performance of asset prices of many companies may not be related to the business itself. Because of the infection of the system, asset prices become very cheap.

For investors with large amounts of capital, they will not face investment risk in the short term, but they will create many opportunities.

Investors like Buffett took some risks and bought reasonably priced assets.

Because the market can not make asset pricing and make assets cheaper, this is a market failure.

In this case, a large number of Chinese enterprises will not be worried about financing difficulties. At that time, mobile phones will be better.

Investment decisions are always made under a variety of uncertain factors. There must be risks, but the risks and benefits are symmetrical. Now the investment risk is great, but for the prepared investors, there may be more opportunities.

We should take a more tolerant attitude towards the acquisition of overseas assets from a longer term perspective.

We should regard it as a strategic investment, not a return for a year or two.

In a sense, the global economic crisis caused by the subprime mortgage crisis has created an opportunity for China.

I believe that after five or six years, the position of China's economy has been reestablished after the crisis, just as the Asian economic crisis has established the dominant position of China's economy in the Asian economy.

The United States and Japan's economy will suffer negative growth next year, and the European economy will not grow. In this case, if the Chinese economy can maintain a growth rate of 8% for two years, there will be great changes in the strength comparison.

There are still many things that China can do. For example, we will gradually open up our capital account and let our capital flow out and complete RMB convertibility. This will not only determine the status of China's economy in the real economy and the global economy, but also determine the status of China's financial sector.

In the long run, in fact, after every crisis, there is always a change in the contrast of power among nations around the world, and then the international economic and political order is redefined.

(Jia Xiao)