久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

  Home>News Center>China
       
 

Snow advises to save less, spend more
By Neil King Jr., James T. Areddy (The Wall Street Journal)
Updated: 2005-10-14 11:45

Treasury department officials have a new strategy for lessening America's trade frictions with China: Get Chinese consumers to save less and spend more.


US Treasury Secretary John Snow (2nd right) chats with a vendor at a market in Mulan town in southwest China's Sichuan Province October 13, 2005. [newsphoto]
Beijing has chased the same elusive goal itself with limited success. But Treasury Secretary John Snow, who strolled through a village market in central China yesterday, believes Beijing needs to revamp its tax code, make consumer credit easier to get, and rebuild the social safety net so people can dip into their savings and head to stores.

After viewing slabs of fatty pork and nibbling on a fried pastry, Mr. Snow extolled the virtues of the average Chinese buying "more stuff," be it Chinese-made sofas or new ovens. "We see the growth of consumerism ... as going directly to what is most on our mind, which is the global imbalance" in trade, he said.

Mr. Snow's new consumerist line has another attraction. It gives him a softer alternative to twisting China's arm over its still-rigid currency system, now the main sore spot in the two countries' trade relationship. China is set this year to rack up a trade surplus with the US of more than $200 billion, up from $162 billion last year. Just yesterday, the Commerce Department announced that the gap in trade with China widened 4.65% to $18.47 billion in August from July, while the overall US trade deficit grew 1.8% to $59.03 billion.

The US wants China to spend more and save a little less not simply to get the Chinese to buy more American imports -- though that would be applauded. The idea is to get China's domestic market moving faster so its big companies grow by selling to people at home, not only by shipping more goods to the US, which adds to America's trade deficit and generates political pressure for protectionist measures that the Bush administration doesn't want.

Mr. Snow's new tack has won supporters in Beijing, but may earn him little breathing room at home. Measures to liberate China's consumers could take years to put in place, while critics in Congress and within US industry want immediate action. Hence their focus on China's currency, the yuan, which they argue is kept at an unfairly cheap price to spur exports.

"The Treasury line on domestic demand growth in China is fine so long as it doesn't become a substitute for pushing for a further appreciation" of the yuan, says Morris Goldstein, an economist at the Institute for International Economics in Washington.
Page: 123



Wolfowitz in Northwest China
Military drill for upcoming China-ASEAN expo
Touchdown drill in main landing field
  Today's Top News     Top China News
 

Another 'normal' day in space for Shenzhou VI

 

   
 

China, US fail to break impasse in textile talks

 

   
 

At least 85 killed in attacks in Russia

 

   
 

Snow asks China to open finance industry

 

   
 

Jealous man shoots students; injures 16

 

   
 

Lethal bird flu hits Turkey; Europe on alert

 

   
  China, Japan hold third round of talks
   
  Safety, comfort priority for designer
   
  Rocket man at end of 'Long March'
   
  Aging population takes to courts
   
  Lion attack victim 'critical but stable'
   
  On site mediation ordered
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 国产欧美日韩亚洲精品区2345 | 日本 欧美 在线 | 亚洲欧美日韩国产综合 | 性刺激免费视频观看在线观看 | www.日本高清.com | 久久免费看片 | 欧美黄色xxx | 国产亚洲精品久久久久久久久激情 | 国产私拍福利精品视频推出 | 国产va精品网站精品网站精品 | 亚洲国产精品综合久久久 | 香蕉久久久久 | 免费一级做a爰片久久毛片 免费一级做a爰片性色毛片 | 经典三级久久久久 | 久久免费观看视频 | 日本精品夜色视频一区二区 | 中文字幕在线观看一区二区 | 在线精品视频在线观看高清 | 亚洲依依成人综合在线网址 | 精品无码三级在线观看视频 | 日韩 综合 | 九九色在线视频 | 亚洲精品一二三四区 | 精品午夜寂寞黄网站在线 | 国产成在线观看免费视频成本人 | 国产成人高清一区二区私人 | 色色视频免费网 | 美女国产在线观看免费观看 | 高清偷自拍第1页 | 老师张开腿让我捅 | 成年人免费小视频 | 国产精品亚洲欧美日韩区 | 久久国产精品夜色 | 俄罗斯一级成人毛片 | 国产成人综合精品一区 | 亚洲国内 | 国产精品无圣光一区二区 | 私人午夜影院 | aaa一级毛片 | 国产成人福利夜色影视 | 日韩天天摸天天澡天天爽视频 |