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[G20] Focus: RMB Issue To The Cusp Of The Storm

2014/4/9 13:00:00 24

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< img border= "0" align= "center" alt= "" src= "" /uploadimages/201404/09/20140409010521_sj.JPG "/" < > > "
P, a senior official in Australia, said on Tuesday (April 8th) that when global financial leaders meet in Washington this week, they will study the commitments made by various countries to boost economic growth and rectify the economy. 
 Australia is the chairman of this year's "a href=" http://sjfzxm.com/news/index_s.asp "G20" /a ", and will be responsible for drawing up communiques after the end of the meeting on Friday. 
When the group P (G20) met in Sydney in February, it promised to increase the growth rate of the global economy by 2 percentage points within 5 years, and the action plan for each country was scheduled to be released later in the year. 
 Australian officials: accumulating growth strategy kinetic energy is the conference goal /p >
"P" represents "a" href= "http://sjfzxm.com/news/index_s.asp", "finance" /a, "the official" Barry Sterland, who attended the G20 conference in Australia, said on Tuesday: "accumulating the kinetic energy of these growth strategies is indeed a major goal of this conference. A major focus of this conference will be based on this growth vision to discuss the measures needed to achieve the growth goals of the Sydney conference. " 
 Sterland said that the conference will discuss all "geopolitical risks", but pointed out that tensions in Ukraine had been discussed at the G20 conference six weeks ago, and there is no plan to take joint action against Russia. "This issue is not within the agenda of this meeting." 
 German central bank [micro-blog]: deflation risk is also an important issue. /p >
 the Bundesbank said on Tuesday (April 8th) that the risk of the euro zone's "a" href= "http://sjfzxm.com/news/index_s.asp" > inflation rate < /a > holding low and low inflation to the global economy will be one of the main topics of the International Monetary Fund's IMF and G20 spring meetings. 
So far, the European Central Bank (ECB) has not yet accepted IMF's request for P to further ease its monetary policy to deal with low inflation risks. IMF is worried that low inflation in the euro area, tight geopolitical situation in Ukraine and other factors such as market turbulence will jointly drag global growth in the short term. 
 Germany's central bank endorsed IMF's policy recommendations, but the central bank stressed that the euro zone's monetary policy is now very loose. 
Andreas Dombret, a member of the Bundesbank, said that if the inflation rate stayed too low for a long time, the ECB had the necessary tools to deal with it, but the ECB should also assess the risks. But he also admits that the risk of possible long-term low interest rates must be taken into account. 
 strong > RMB to the cusp of /strong > /p >
Under the background of the meeting of finance ministers of IMF and G20, which will be held later this week in Washington, P, the United States has recently pointed to China's "a href=" http://sjfzxm.com/news/index_s.asp "RMB" /a ". 
The recent devaluation of the RMB P exchange rate has attracted the attention of the United States, and the US Treasury is concerned about this. It is reported that a senior US Treasury official said recently that if the recent fall of the renminbi implied that the Chinese government intended to abandon the RMB exchange rate marketization plan, it would cause serious concern in the United States. 
[P] Zhao Qingming, an expert on international financial issues, said recently that making similar remarks before some important international conferences is also a common tactic used by the United States and a way of releasing issues. "Micro-blog" The recent performance of the US economy is not bad. They do not want to encounter more external forces and have an unfavorable situation. If the RMB depreciates continuously, it will make Chinese products cheaper than American products, which is not conducive to the development of the US manufacturing industry. If the RMB keeps appreciating, it will make Chinese consumers more capable of buying in the international market. 
Jacob Lew, the US Treasury Secretary, welcomed China's expansion of the RMB against the US dollar in March, P Jacob. Last December, Jacob Lu also indicated that the substantive progress of RMB exchange rate reform has not yet reached, but it is close to the point urged by the US. 
 Liu Dongliang, senior financial analyst of China Merchants Bank's financial market, said: "for a long time, the attitude of the United States to the RMB exchange rate has not changed much. It has been pressing for RMB a href=" http://sjfzxm.com/news/index_s.asp "> appreciation > /a >. But the renminbi has been appreciated for some time, and the pressure exerted by the United States has been smaller than before.