<tt id="6hsgl"><pre id="6hsgl"><pre id="6hsgl"></pre></pre></tt>
          <nav id="6hsgl"><th id="6hsgl"></th></nav>
          国产免费网站看v片元遮挡,一亚洲一区二区中文字幕,波多野结衣一区二区免费视频,天天色综网,久久综合给合久久狠狠狠,男人的天堂av一二三区,午夜福利看片在线观看,亚洲中文字幕在线无码一区二区

          Economy

          China: Pressure on yuan 'may backfire'

          By Wang Bo, Lan Lan and Chen Weihua (China Daily)
          Updated: 2010-09-17 07:03
          Large Medium Small

          China rejects US demands over currency

          BEIJING/New York - China warned on Thursday that obsessing over yuan appreciation would not solve trade problems in the United States and "might make things even worse", while economists view US demands as a political ploy ahead of midterm congressional elections.

          "Adding pressure will not resolve trade issues between China and the US the country's exchange rate reform will only be pushed forward in accordance with economic conditions and balance of international payments," Foreign Ministry spokeswoman Jiang Yu said at a media briefing.

          Related readings:
          China: Pressure on yuan 'may backfire' Yuan appreciation will not help trade deficit
          China: Pressure on yuan 'may backfire' Purchases set to ease trade frictions
          China: Pressure on yuan 'may backfire' Stable renminbi will help internationalization moves
          China: Pressure on yuan 'may backfire' 'Softened' IMF tone eases yuan pressure
          China: Pressure on yuan 'may backfire' Visits to get Sino-US ties back on track
          China: Pressure on yuan 'may backfire' Recovery strength seen in China's economy

          Jiang's remarks came in response to earlier comments by US Treasury Secretary Timothy Geithner, who expressed dissatisfaction with the pace of the yuan's appreciation in testimony prepared for congressional hearings on China's currency policy.

          The yuan was traded at 6.7181 against the greenback on Thursday, its highest level since June 19, when the central bank announced that it would deepen reform of the mechanism governing the yuan exchange rate to improve its flexibility.

          The Chinese currency has gained 1.6 percent against the US dollar since that date. But the US still thinks it is not enough.

          "We are concerned that the pace of appreciation has been too slow and the extent of appreciation too limited," Geithner said in remarks to the US Senate Banking Committee on Thursday.

          "We are examining the important question of what mix of tools, those available to the US and multilateral approaches, might help encourage the Chinese authorities to move more quickly (on yuan appreciation)," Geithner said.

          His remarks came as the Obama administration was under intense pressure to revitalize the flagging economy and cut high unemployment ahead of November's midterm elections.

          The jobless rate in the US reached 9.6 percent in August, prompting Obama to unveil a raft of tax cuts and infrastructure projects to spur economic growth.

          Economists and bank executives said politics in Washington is playing a role in the issue as blaming the "undervalued" yuan for the US trade deficit with China will divert public attention from the state of the economy and could be politically popular.

          "It is simply a political game," said Ding Yifan, deputy head of the Institute of World Development at the State Council's Development Research Center. "The yuan issue is easy to attack as the Democrats fear midterm election losses" if Obama's economic plans failed to match expectations.

          In New York, Stephen Roach, non-executive chairman of Morgan Stanley Asia, said that "with the election season in hand, the drumbeat in Congress is getting louder and the Obama administration and the Democratic party in general are in serious trouble. The rhetoric is led more by politics than by global economics".

          "If we think for a moment that we are going to solve this problem by bashing the Chinese we are deluding ourselves," he said in an address to some 200 members of the Council on Foreign Relations on Thursday morning.

          Roach, who has testified repeatedly before Congress on the issue, said the main problem for the US is the lack of national savings, which is now at minus 2.5 percent of GDP. "So we need to import more surplus savings from abroad in order to grow. And Congress is clueless, it does not understand this."

          Jacob Frenkel, chairman of JP Morgan Chase International, said the issue will not be solved unless the gap in savings between China and the United States is filled.

          While acknowledging it was China's choice to make, he advised the US administration to have a more constructive dialogue with the Chinese to develop financial markets. That will transform the debate of exchange-rate rivalry into a constructive, win-win situation for everyone, Frenkel said.

          Yu Yongding, economist and former central bank advisor, said that it is essential not to exaggerate the effect of currency appreciation on the balance of trade.

          "The exchange rate is just one of many factors which affects trade balances," Yu said.

          "It is worth noting that the income effect of global demand is significantly larger than the exchange rate on China's trade balance," Yu said.

          Bill Rhodes, senior vice-chairman of Citigroup Inc and Citibank, said blaming the yuan's exchange rate is not reasonable. "There are lots of reasons for the imbalance of trade, such as the rate of savings. Adjusting exchange rates cannot solve all the problems. Just look back at what happened in Japan," Rhodes told China Daily.

          Wang Bo and Lan Lan reported from Beijing. Chen Weihua reported from New York.

          主站蜘蛛池模板: 欧洲码亚洲码的区别入口| 久久综合久色欧美综合狠狠| 国产一级精品毛片基地| 把女人弄爽大黄A大片片| 久久久这里只有精品10| 内射无套内射国产精品视频 | 亚洲人av毛片一区二区| 丰满人妻无码∧v区视频| 华人在线亚洲欧美精品| 国产女人18毛片水真多1| 精品一区二区成人精品| 麻豆精品在线| 国产一区二区三区av在线无码观看 | yw尤物av无码国产在线观看| 国产亚洲一在无在线观看| 亚洲开心婷婷中文字幕| 起碰免费公开97在线视频| 久久精品国产99久久无毒不卡 | 日韩精品一区二区三区日韩| 国产无遮挡无码视频在线观看| 五月天国产成人av免费观看| 亚洲69视频| 成人特黄特色毛片免费看| 天天摸天天操免费播放小视频| 亚洲有无码中文网| 久久久这里只有精品10| 亚洲国产欧美日韩一区二区| 亚洲AVAV天堂AV在线网阿V| 老司机亚洲精品影院| 国产精品高清中文字幕| 啦啦啦啦www日本在线观看| 国产免费高清69式视频在线观看| 国产乱来乱子视频| 日韩精品一区二区三区四| 国产精品亚洲综合色区丝瓜| 四房播播在线电影| 亚洲乱女色熟一区二区三区| 99九九成人免费视频精品| 国产十八禁在线观看免费| 久久精品熟女亚洲av麻| 韩国午夜理伦三级|