www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Economy

Europe likely to send hot money to China

By CECILY LIU (China Daily) Updated: 2015-03-02 07:38

Europe likely to send hot money to China

Photo taken on March 16, 2014, shows yuan (central) and other currencies in the picture. [Photo/IC]

Dramatic monetary policies in Europe have lots of potential to create a new surge of hot money inflow into China, says Simon Derrick, chief currency strategist at the Bank of New York Mellon.

Hot money is speculative money that flows quickly between markets as investors cast about for high interest rates and returns. It can create distortions in sufficient quantity.

This impact is similar to that caused by quantitative easing by the US Federal Reserve on China in 2009, when excess money created was looking for a home in a high growth economy, Derrick says.

Europe likely to send hot money to China

Simon Derrick, the chief currency strategist at the Bank of New York Mellon, says China has made strides to liberalize its currency to allow freer trade and investment flows in and out of the country.

As China experiences this inflow of hot money, it is tempting to introduce exchange rate controls similar to a repeg of the renminbi to the US dollar, he says, but such measures are not advantageous for the longer term.

"The temptation is to step in and intervene, but the problem is that you'd simply end up with the same old reserve policies and reserve problem that characterized the currency war for the last 25 years," says Derrick.

Instead, the brave thing for China is to decide that it has committed to liberalizing the currency, so it should use monetary policy to control inflationary pressures, he says.

"I hope that will happen, as it shows that the People's Bank of China, and more generally the Chinese government, have had faith in what they were doing. I really do believe what's happened over the last 18 months is an important step and I'd like to see it continue to happen," says Derrick.

The two events in Europe that Derrick made reference to are the European Central Bank's intention to execute quantitative easing in March and the introduction of a negative interest rate by the Swiss National Bank.

According to European Central Bank announcements in January, at least 1.1 trillion euros will be injected into the ailing eurozone economy.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 香港国产特级一级毛片 | 99精品视频在线观看 | 国产午夜爽爽窝窝在线观看 | 日韩精品一区二区三区在线观看 | 久久免视频 | 九九亚洲 | 久久精品二三区 | 亚洲精品韩国美女在线 | 欧美一级手机免费观看片 | 亚洲精品视| 国产在线美女 | 久久九九有精品国产56 | 成年女人毛片免费播放人 | 亚洲an日韩专区在线 | 日韩一级片| 成人国产在线24小时播放视频 | aaa免费视频 | 亚洲手机在线 | 香港三级网站 | 国产日韩精品一区在线观看播放 | 久久日本精品一区二区免费 | 最新亚洲国产有精品 | 高清一级毛片免免费看 | 欧美一级在线视频 | 成人网18免费网站在线 | 精品区 | 亚洲日本综合 | 中文字幕在线乱码不卡区区 | 国产精品黑丝 | 黄人成a动漫片免费网站 | 成人小视频在线观看免费 | 在线国产一区二区三区 | 午夜影院免费体验 | 成人a在线| 人成精品视频三区二区一区 | 国产一区亚洲二区三区毛片 | 免费一级毛片在级播放 | 狼人青草久久网尹人 | 欧美精品一区视频 | 亚洲高清视频在线播放 | 国产在线成人一区二区 |