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: 日韩一区二区精品久久高清 | 日本无卡码一区二区三区 | 欧美精品人爱c欧美精品 | 成年人在线免费观看网站 | a男人的天堂久久a毛片 | 视频一区 在线 | 曰本人做爰大片免费观看一 | 久久精品店 | 国产一国产一级毛片视频在线 | 欧美人体在线 | 成人自拍网站 | 伊人久久在线 | 成人免费观看网欧美片 | 免费观看日本视频 | 久久黄色一级视频 | 国产成人在线看 | 99国产成人高清在线视频 | 欧美jizzhd欧美精品 | 99久久综合狠狠综合久久一区 | 亚洲精品第一第二区 | 99免费观看视频 | 国产成人18 | 久久丁香 | 亚洲精品国产福利一区二区三区 | 99久久精品免费看国产高清 | 特级欧美午夜aa毛片 | 亚洲精品国产专区91在线 | 亚欧美图片自偷自拍另类 | 一本久道久久综合中文字幕 | 久久在线免费视频 | 中文一区二区在线观看 | a国产视频 | 亚洲久久网站 | 日本三级一区二区三区 | 国产精品青草久久久久福利99 | 精品毛片免费看 | 亚洲视频免费在线观看 | 日韩欧美中文字幕在线观看 | 综合爱爱网| 久久久这里只有精品免费 | 亚洲日韩aⅴ在线视频 |