World Cup record my :2010-06-18

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World Cup record my :2010-06-18 Powered By Docstoc
					World Cup record my :2010-06-18
   ?Recently, the "Washington Post", "The
Wall Street Journal" and other American media to the global
economic downturn, and China's economic growth to accelerate
enhance the voice of international financial organizations, overseas
mergers and acquisitions and other large-scale ground, issued a
"show of Chinese independence" remarks, claiming
that China is the biggest winner in the financial crisis. Indeed,
China's economic leap forward in recent years is obvious to
all, particularly the financial crisis, China contributed 50% of
global economic growth over, but China really is the biggest winners?
"Left a growing outflow of wealth" in China and
other emerging economies to lead the global economy to remain behind
the recovery process reflects the global interests and a huge
imbalance in wealth distribution.
   ?Dollar system and U.S. financial hegemony is the source of
imbalance in the distribution of global wealth. Recently,
China's international financial organizations, although the
right to vote has increased, but the reconstruction of the
international financial situation and the international financial
system, the process is still extremely difficult. Although the United
States in the sole charge of the world financial order after years of
power had to give him a small part of the country; although with the
rise of the euro, China, Russia and India, the strength of emerging
economies surged and lends his words demands But the dollar dominated
currency hegemony and the international financial system has not
changed. The reform of the international financial system, in fact,
the United States do not want to "beating" type of
reform, but want to do some "minor repairs" work,
such as appropriate to strengthen supervision, limited increase in
some countries in the International Monetary Fund Organization and the
World Bank share. There are two insurmountable U.S. bottom line:
First, no State may weaken the U.S. in the international financial
system control; Second, any reform proposals must not undermine the
pillars of the status of U.S. dollars, in this sense, it also
determines the global economic imbalances pattern of real change can
not happen.
?Since entering the 21st century, along with the world economy and
changes in the pattern of international division of labor, global
economic imbalances, especially the "Sino-US economic
imbalances," more and more serious. "Sino-US
economic imbalance" is accused of the large U.S. current
account deficit and China's huge current account imbalances
between surpluses, and indeed this imbalance reflects a deeper level
it is globalization and the context of international industrial
transfer , a global financial center and the global manufacturing
center in the international division of labor, and the imbalance
between creditor and debtor rights and interests of the serious
imbalance in the distribution.
?In recent decades, the world's major countries to gradually
form a support for the real economy relies on trade division and
financial division of the virtual economy, a new division of labor
form. In this increasingly close È«Çò division system Zhong, while the
global Shengchan greatly improve efficiency, Cu Jinliao world than 20
years of economic prosperity; the other hand, to make globalization a
"surplus" Fenpeijieguo poor. The United States as
the world's largest debtor, the debt has not formed its
constraints, but as a tool for the United States to maintain financial
?In fact, the U.S. international debt cycle depends on the two
"exchange": the trade channel delivery, financial
channels back; financial channel delivery, trade channels return. The
first exchange, the United States with growing revenues in foreign
currency to purchase products to their needs, resources and services
to maintain its low-cost, high quality of life, their performance for
the U.S. trade deficit and current account deficit increased rapidly
and to cover the trade deficit means more dollars to the world output;
second "exchange" is that the dollar by buying
dollars offshore financial assets back to the United States, the
United States to its foreign trade deficit or current account deficit
financing, to ensure the external payments, to achieve a long-term
economic prosperity.
?In 2009, the U.S. federal government domestic debt of 8.6 trillion
U.S. dollars, foreign debt was 3.7 trillion, accounting for 86% GDP
ratio is 5.5 times revenue. In 2009, U.S. economic growth rate of
-2.4% revenue growth rate of -10.0%. Even if the financial crisis
highlights the failure of American power, a substantial decline in
liquidity, the U.S. credit rating agencies have yet to make any
adjustment of U.S. Treasury bonds. With Europe and the United States
have the major economies out of recession and into recovery, the
resurgence of market risk appetite, investors start to shift assets
overseas by the United States, the euro zone to attract investors
again become a major market affected, 2009 the first three quarters,
appeared twenty years the United States since the net capital outflow
situation, not only for the U.S. financial system has caused great
damage, but also interrupt the cycle of the U.S. economy's
international debt.
?USD United States must attract capital back, but in this case, the
United States was a "straw." Since last October, in
Dubai the debt crisis, debt crisis surfaced five countries of Greece,
the United States continued to reduce credit agencies Greece, Spain,
Portugal, the credit rating on European debt crises continue to create
instability, massive short the euro, the capital back to the United
States a large number of local, the United States became the biggest
winner. Including the United States treasury bonds, stocks and bonds
of other organizations, including the wildly popular U.S. dollar
assets. 10-year U.S. Treasury yields and 30-year U.S. Treasury yields
have hit a new low. According to the latest U.S. Treasury
International Capital Flows (TIC) data, as at the end of April this
year, U.S. Treasury bonds held by foreign creditors amounted to 3.96
trillion U.S. dollars, increasing 1.87% the previous month. In which
the top three creditors as China, Japan and the United Kingdom
substantial holdings of U.S. Treasury bonds, respectively 900.2
billion U.S. dollars, 795.5 billion U.S. dollars and 321.2 billion
U.S. dollars. Correspondingly, the U.S. national debt hit a record
high of 13 trillion U.S. dollars, accounting for almost 90% of GDP.
United States, over 90% of national wealth is borrowed still enjoy the
highest national credit and the wealth of the world's largest
bonus, this is not the world's largest Inequality?
?It seems China is the creditor countries to rethink and assess the
status of the time, China's financial power to the creditors
the right to speak into the country's financial and enhance
ability to resist external pressure game.