Zhou Xiaochuan: To Solve The Trade Imbalance Can Not Rely Solely On The RMB Exchange Rate.

2010/11/5 16:54:00 53

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Zhou Xiaochuan Solves Trade Imbalance RMB Exchange Rate

The 2010 Caixin summit was held in Beijing on November 5-6. The annual meeting was hosted by Caixin media, the theme of which is "China and the world - China policy for changing the world".

governor of the People's Bank of China

Zhou Xiao Sichuan

In the opening speech, the governor of the central bank became an old "Chinese medicine". He used the metaphor of Chinese and Western medical treatment to talk about the difference between China and the West in regulating the economy.

For the Federal Reserve to push the easing policy again, Zhou Xiaochuan said that the policy applicable to the United States is not necessarily suitable for the whole world. The US dollar is an international currency, and a considerable amount of international trade in US dollars is bound to have an impact on the world.

Zhou Xiaochuan talked about

Solving trade imbalance

The problem is,

RMB rate

It is only a prescription to increase domestic demand, raise labor wages, increase the price of resources, adjust the export tax rebate policy, and cooperate with many flavour drugs. Therefore, it is not desirable to emphasize the role of a certain drug alone.

As for whether the hot money will flow into China, Zhou Xiaochuan said that China's current foreign exchange system is limited to abnormal capital inflows, or can not get in or bypass, and short-term funds will be put into a pool to prevent it from flooding.