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The post-crisis era Huyou

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					The post-crisis era Huyou
 This article originally contained: kw Fei Mu's blog
http://blog.sina.com.cn/u/1730193072
(Department of the bloggers before the National Senior Professional
Sales)
 After last year around the world to save rare vigorous action to the
economic crisis, it is now time to reflect. Indeed, in the
circumstances, in addition to the financial system with excess
liquidity is absolutely no other way than we came in a short time
restore the vitality of the real economy. So, in some, encouraged by
the so-called economists, we have taken against the liquidity crisis
by the way. But the problem is that these liquidity into the money
must flow into the real economy to revitalize the manufacturing sector
and to help private enterprises survive and grow is what we most want
to see. can be a year later we see what is it bank loans went to
state-owned enterprises most of which are state-owned enterprises, and
not into their main business or a new manufacturing industry, so the
king and the real estate industry, the development of unconventional
up; the stock market of more than 1,600 points from the initial
momentum of the rainbow is also doubled.
   In fact, we have seen, China's financial system, the large pool of
water mains leading to large state-owned enterprises is too thick, and
then through a small pool of state-owned enterprises and uninterrupted
flow of real estate and stock market, the leading private economic and
manufacturing the pipes are too small too slow, and has also been some
interest group deliberately shut the valve. so we both are unable to
inject much liquidity to fundamentally restore the vitality of the
real economy. Our government is also expected to this fact, so in
desperation preserving employment, but also take the initiative to
invest 4 trillion of reinforced concrete plan. hey, in a short time to
clear the private economy and the manufacturing sector can not be the
case of pipelines, but also made a taken advantage of.
   8 in Bulgaria after the success of some of the so-called
economists and begins to preach on the so-called economic recovery. I
have to admit that we are entering the post-crisis era, but also the
most dangerous and complex time, it can be said We have just begun to
enter the crisis. the specter of stagflation has been threatening
gestures toward us. If we now intoxicated, careless, I believe 13
trillion last year, the effect of investment is not made as per every
10,000 Chinese citizens the red envelope to reality.
    Fortunately, our government has maintained a clear head, brake!
Brakes!! Brakes!!!, As if driving on the highway, when a crisis
occurs, slowing down is always the most effective way to reduce the
harm . So we see a tightening of liquidity measures one after another:
    1. The constant term notes issued, and the intensity is growing.
    2. The deposit reserve ratio continues to increase.
    3. Direct credit payment of window guidance.
    4. Long-term treasury bonds.
    It is worth mentioning that in the real estate industry is awash
with liquidity, clearing arrears of land transfer, increase the down
payment thereby reducing the leverage of bank credit I think it is
indirect measures such as tightening liquidity. Particularly in the
New Deal for Real Estate below the expected price drop, so a lot of
real estate funds have precipitated in the real estate industry. It
also indirectly played a property with a house to the effect of
tightening liquidity. Of course the government would like to see is
that in the lower house price at the same time, so that these funds
can be released slowly and move into the real economy, not destroy
them (how to make a soft landing will be the key to real estate),
resulting in bad loans.
    Finally, I would like to mention is that after last year's
excesses, and this year's tightening measures taken by States, most
commercial banks deposit ratio is close to the limit, which means that
control of the remaining big four state-owned credit funds will be the
key.
       May 6, 2010 Nights at the Zhongshan Xiaolan

				
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