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NDRC: The US Debt Crisis Has An Impact On China &Nbsp; Global Economic Growth Or Slowdown.

2011/8/12 10:02:00 53

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Zhang Xiaoqiang, deputy director of the national development and Reform Commission, interviewed today on the current hot issues of international and domestic economy, he said.

debt

The impact of the crisis is widespread, and the global economic growth rate may be lower than last year.

The US national debt rating declined, and the New York stock market shook sharply. The Fed announced that by 2013, the Fed's benchmark interest rate would remain at a low level of 0.25.

Zhang Xiaoqiang said that this situation is bound to have an impact on China's economy.

Zhang Xiaoqiang: from this point of view, especially in our foreign exchange reserves of three trillion and two hundred billion, if the excessive monetary policy of the United States makes the global inflation further develop, it will have an impact on the actual purchasing power of our foreign exchange reserves.

U.S.A

Economics

The turmoil has also had a huge impact on Europe.

Many people began to worry about the sovereign debt problems of countries such as Italy and Spain, which are playing an important role in the European economy.

Zhang Xiaoqiang judged that the weak performance of major economies such as Europe and America could lead to a downward trend in commodity prices in the short term.

Zhang Xiaoqiang: on the one hand, the weakness of the developed economies and the weakening of commodity demand make the commodity prices low, which is good for us.

However, in the medium term, the US dollar has been depreciating, and commodity prices have been settled in US dollars. This is reflected in the view that commodities are at a high level or even high in the medium term.

Zhang Xiaoqiang said that it is too early to judge the two dip in the global economy. But there are many uncertainties in the global economy, and the global economy is very fragile.

Zhang Xiaoqiang: this year's economic growth from the developed countries, the global economic growth rate is very low, lower than last year.

RMB in recent days

appreciation

At a faster pace, the yuan has entered the 6.3 era against the US dollar.

The appreciation of the people is bound to affect China's exports.

Zhang Xiaoqiang, deputy director of the national development and Reform Commission, said the yuan would maintain a gradual appreciation against the US dollar.

Since the current round of reform, the appreciation of RMB against the US dollar has exceeded 23%.

Zhang Xiaoqiang judged that the renminbi would continue to appreciate against the US dollar in the next step.

Zhang Xiaoqiang: I think RMB will continue to appreciate this trend against the US dollar.

Considering all factors, I think he should be a gradual process.

At present, the proportion of export in China's GDP is large, and there are a lot of employment population. The appreciation of RMB to us dollar will affect the foreign trade processing enterprises, and the appreciation of RMB can not be too fast.

Zhang Xiaoqiang said the obvious appreciation of the renminbi over the past two days was mainly due to the impact of the US debt crisis:

Zhang Xiaoqiang: This is more because the United States, the so-called ninety-four years, the first time the impact of the United States sovereign debt has been reduced, mainly because it triggered the dollar against other currencies in the world, including the dollar.

depreciation

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