Li Daokui: The Economy Depends More On Domestic Demand.

"Import and export is the only goal that our country has not completed last year. What do you think?"

After the opening of the four session of the twelve CPPCC National Committee today, the China Youth Daily Zhongqing online reporter asked Li Daokui, a member of the CPPCC National Committee and professor of economics and management, Tsinghua University.

"Import and export matters are becoming more and more independent of us now."

Li Daokui said that imports and exports depend increasingly on changes in the international economic structure and the whole world.

They are shrinking and shrinking faster than growth.

It is not surprising that "import and export (target) is not completed, but we should not be nervous."

"This is the basic law of Japan and the United States.

The dependence on import and export and external market is lower than ours.

Li Daokui said.

Li Daokui pointed out that in addition to import and export indicators, there are

Indicators, this indicator of great powers can not be too high.

"Small country economy may depend on import and export, and big country economy depends fundamentally on domestic demand."

Li Daokui believes that compared with five or six years ago, the import and export volume has greatly reduced the importance of China's economy. Our economy is increasingly dependent on domestic demand.

In the past, China's import and export trade accounted for 70% of GDP, and now the decline is very natural and likely to continue to decline.

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Pimco's warning of rising inflation in the US seems to be gradually coming to a conclusion, which is in sharp contrast to the Fed's expectation that consumer prices will pick up at a slower pace.

The US Anti inflation bond (TIPS) has risen 0.8% in the past month, while the traditional US Treasury bonds are stagnant, according to data released by Bank of America Merrill Lynch.

Over the past three years, anti inflation bonds have lagged behind the market every year, showing signs of recovery now.

Pimco warned last year that prices will rise in the US.

"We expect inflation to rise moderately," said Mihir P. Worah, a mutual fund manager of Pimco's total return fund.

In January, Worah suggested buying anti inflation bonds.

However, Pimco's warnings and the Fed's views on inflation are quite different.

Dudley, chairman of the New York fed and William Dudley of the US Federal Reserve, said this week that although he still expects inflation to reach the 2% goal of the US central bank in a period of time, he is not as confident as he used to be.

However, judging from the current trend of the US core CPI (consumer price index), Dudley's worries about inflation may be somewhat redundant, and Pimco's warning is being carried out step by step.