Warming up of Sino-US global fiscal discussion
Central Bank Governor Zhou Xiaochuan of the People's website released the item "on the change in macro-and micro-to farther discover the pro-cyclical", the item said, "to talk about some of the economic scheme and pro-cyclical components, likely remedies assesses as well as monetary and fiscal administration in the grave market urgent position of how to play a expert role. " Zhou Xiaochuan, said the scribe, China's macro-control principles are starting to accept crop, there are some premier signs of warmer indications of fast down turn in financial development has been checked the rudimentary situation. Zhou Xiaochuan made the establishment of capital guarded turn around cycle means and dynamically apply the "New Basel Capital Accord."
This is Zhou Xiaochuan, following the March 23, the 24th consecutive sites in the central bank has published a signed article of the third. Zhou Xiaochuan made before the international monetary system and on the question of the concept of savings, it is recommended to create super-sovereign reserve currency around the world attention. Obama President of the United States immediately expressed that "the current strong dollar." Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Timothy Geithner also rejected the U.S. proposal to give up.
However, Zhou Xiaochuan, the request has been many of deducing nations and some global organizations. March 24, the International Monetary Fund replied positively to the recommendations of Zhou Xiaochuan, head of the school Kahn said in Paris on the 25th, the Chinese super-sovereign global retain currency of the request is reasonable. Zhou Xiaochuan, the request in addition carried by the Russian and other "BRIC countries" to support, at the matching time, the European Union to insist the United States put frontwards to smash the aged procedure of global finance.
On the eve of the G20 summit to China and the United States on behalf of both sides for an international financial debate, is heating up.
Binding means for the establishment of turn around cycle capital
Zhou Xiaochuan, said the author, the whole, China's macro-control policies are beginning to bear fruit, there are some leading indicators of warmer signs of rapid decline in economic growth has been checked the basic situation. These achievements in China's government reacted swiftly and decisively to implement a proactive fiscal policy and loose monetary policy appropriately based on the progress.
Zhou Xiaochuan believes that the current Ministry of Finance and the Central Bank of the West special mandate to stabilize the market, often through a long political process, which is often the best course of action to miss the opportunity. Economists usually focus on the macro level, the pro-cyclical, however, at the micro level, the current market structure contains a number of noteworthy features of the pro-cyclical, in response to the current crisis, reform the financial system should be addressed. In the existing market structure, it is necessary to arrange more in the micro-level mechanism of the reverse cycle (that is, a negative feedback loop), in order to ensure a more stable financial system.
In answer to these shortcomings, Zhou Xiaochuan sharp out the living capital adequacy ratio to overwhelm the vulnerability of the capital in specific, the cyclical environment of the buffer, the agencies to blame for economic steadiness could play a expert role; and in fiscal principle, the development of the use of reverse-cycle multiplier, Shun-cycle inhibitory component is the new way.
Standard Chartered Bank head economist and head of international study that LEE Lai Si, macroeconomic imbalances and economic scheme inside the blended effect of systemic malfunction directed to the incident of this urgent position, since the cycle of principle and risk administration, particularly under situation of taut borrowing The need of liquidity administration is the major reason. To be out of urgent position and need to set up a more balanced world finances, that is, the Western finances move from high utilisation to boost savings, Asia and the Middle East finances, high savings, decreasing the savings to boost expending is furthermore indispensable.
G20 summit frequency of the centered bank will shortly be handed out
Focused its attention on the world will convene in early April of the G20 summit in London, hoping to find leads the world economy, "Moses out of Egypt." Lai Sze Lee try to figure out, "Despite the current focus of attention around the world is how to solve the G20 economic and financial crisis, but in reality, many countries will want more long-term."
Chinese Academy of Social Sciences Institute of World Economics and Politics, deputy controller of the worldwide economic study, said Zhang Ming, Zhou Xiaochuan made a couple of days before to restructure the worldwide monetary scheme for the intermediate and long-term dream, short period more tough to achieve. Once these concepts into truth, in the long run is compelled to dwindle the dollar's rank, it is not astonishing that Obama opposed.
But Zhang Ming believes that the summit appears to have been involved in too many high expectations of the parties that this be achieved at once utilitarian mentality, and ultimately may become "non-weight bearing", to repeat the mistakes G20 summit in Washington, it is difficult to to reach any of the crisis in the rescue or reconstruction of the international monetary system of the substantive program.
Not long before at a press seminar on the concluding designated day, the centered bank website at 20:35 on the 26th one time afresh marked by the centered bank handed out the Institute of Finance "of the restructure of the worldwide economic supervision scheme, couple of understand." In this paper, that the parties to the restructure regardless of the present economic scheme made many of proposals and pattern some agreement, but there is still "a number of matters yet to be completely cognizant of the parties or to come to a consensus", so to recall the parties to pay vigilance to the reality of the following five questions: the first step to advance economic supervision is the supervision of self-criticism; the introduction of macro-management parameters of the cycle, turn around cycle to reinforce mechanisms; regulatory bureaus need to enhance the value, or need of supervision of the market know-how and feeling; to reinforce the use of ranking and ranking bureaus supervision; worried about the topic of business governance. - 21393
This is Zhou Xiaochuan, following the March 23, the 24th consecutive sites in the central bank has published a signed article of the third. Zhou Xiaochuan made before the international monetary system and on the question of the concept of savings, it is recommended to create super-sovereign reserve currency around the world attention. Obama President of the United States immediately expressed that "the current strong dollar." Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Timothy Geithner also rejected the U.S. proposal to give up.
However, Zhou Xiaochuan, the request has been many of deducing nations and some global organizations. March 24, the International Monetary Fund replied positively to the recommendations of Zhou Xiaochuan, head of the school Kahn said in Paris on the 25th, the Chinese super-sovereign global retain currency of the request is reasonable. Zhou Xiaochuan, the request in addition carried by the Russian and other "BRIC countries" to support, at the matching time, the European Union to insist the United States put frontwards to smash the aged procedure of global finance.
On the eve of the G20 summit to China and the United States on behalf of both sides for an international financial debate, is heating up.
Binding means for the establishment of turn around cycle capital
Zhou Xiaochuan, said the author, the whole, China's macro-control policies are beginning to bear fruit, there are some leading indicators of warmer signs of rapid decline in economic growth has been checked the basic situation. These achievements in China's government reacted swiftly and decisively to implement a proactive fiscal policy and loose monetary policy appropriately based on the progress.
Zhou Xiaochuan believes that the current Ministry of Finance and the Central Bank of the West special mandate to stabilize the market, often through a long political process, which is often the best course of action to miss the opportunity. Economists usually focus on the macro level, the pro-cyclical, however, at the micro level, the current market structure contains a number of noteworthy features of the pro-cyclical, in response to the current crisis, reform the financial system should be addressed. In the existing market structure, it is necessary to arrange more in the micro-level mechanism of the reverse cycle (that is, a negative feedback loop), in order to ensure a more stable financial system.
In answer to these shortcomings, Zhou Xiaochuan sharp out the living capital adequacy ratio to overwhelm the vulnerability of the capital in specific, the cyclical environment of the buffer, the agencies to blame for economic steadiness could play a expert role; and in fiscal principle, the development of the use of reverse-cycle multiplier, Shun-cycle inhibitory component is the new way.
Standard Chartered Bank head economist and head of international study that LEE Lai Si, macroeconomic imbalances and economic scheme inside the blended effect of systemic malfunction directed to the incident of this urgent position, since the cycle of principle and risk administration, particularly under situation of taut borrowing The need of liquidity administration is the major reason. To be out of urgent position and need to set up a more balanced world finances, that is, the Western finances move from high utilisation to boost savings, Asia and the Middle East finances, high savings, decreasing the savings to boost expending is furthermore indispensable.
G20 summit frequency of the centered bank will shortly be handed out
Focused its attention on the world will convene in early April of the G20 summit in London, hoping to find leads the world economy, "Moses out of Egypt." Lai Sze Lee try to figure out, "Despite the current focus of attention around the world is how to solve the G20 economic and financial crisis, but in reality, many countries will want more long-term."
Chinese Academy of Social Sciences Institute of World Economics and Politics, deputy controller of the worldwide economic study, said Zhang Ming, Zhou Xiaochuan made a couple of days before to restructure the worldwide monetary scheme for the intermediate and long-term dream, short period more tough to achieve. Once these concepts into truth, in the long run is compelled to dwindle the dollar's rank, it is not astonishing that Obama opposed.
But Zhang Ming believes that the summit appears to have been involved in too many high expectations of the parties that this be achieved at once utilitarian mentality, and ultimately may become "non-weight bearing", to repeat the mistakes G20 summit in Washington, it is difficult to to reach any of the crisis in the rescue or reconstruction of the international monetary system of the substantive program.
Not long before at a press seminar on the concluding designated day, the centered bank website at 20:35 on the 26th one time afresh marked by the centered bank handed out the Institute of Finance "of the restructure of the worldwide economic supervision scheme, couple of understand." In this paper, that the parties to the restructure regardless of the present economic scheme made many of proposals and pattern some agreement, but there is still "a number of matters yet to be completely cognizant of the parties or to come to a consensus", so to recall the parties to pay vigilance to the reality of the following five questions: the first step to advance economic supervision is the supervision of self-criticism; the introduction of macro-management parameters of the cycle, turn around cycle to reinforce mechanisms; regulatory bureaus need to enhance the value, or need of supervision of the market know-how and feeling; to reinforce the use of ranking and ranking bureaus supervision; worried about the topic of business governance. - 21393
posted by X - Men @ 3:25 AM
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