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Central Bank Governor Zhou Xiaochuan of the People's website published the article "on the change in macro-and micro-to further explore the pro-cyclical", the article said, "to discuss some of the financial system and pro-cyclical factors, possible remedies measures as well as monetary and fiscal authorities in the serious market crisis of how to play a professional role. " Zhou Xiaochuan, said the author, 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. Zhou Xiaochuan made the establishment of capital constrained reverse cycle mechanism and actively implement the "New Basel Capital Accord."
This is Zhou Xiaochuan, following the March 23, the 24th following sites in the midpoint bank has issued a noted portion of the third. Zhou Xiaochuan made before the global monetary procedure and on the query of the fundamental thought of savings, it is proposed to bring ahead super-sovereign retain currency throughout the world attention. Obama President of the United States straight away articulated that "the prevailing tough dollar." Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Timothy Geithner in addition refused the U.S. request to give up.
However, Zhou Xiaochuan, the suggestion has been many of evolving nations and some worldwide organizations. March 24, the International Monetary Fund answered positively to the recommendations of Zhou Xiaochuan, leader of the organisation Kahn said in Paris on the 25th, the Chinese super-sovereign worldwide book currency of the suggestion is reasonable. Zhou Xiaochuan, the suggestion furthermore sustained by the Russian and other "BRIC countries" to support, at the identical time, the European Union to force the United States put ahead to shatter the vintage scheme of worldwide finance.
On the eve of the G20 summit to China and the United States acing for both boundaries for an global fiscal discussion, is way of heating up.
Binding means for the establishment of turn around cycle capital
Zhou Xiaochuan, said the writer, the total, China's macro-control guidelines are commencing to withstand yield, there are some primary pointers of warmer signals of quick descent in monetary expansion has been checked the minimal situation. These achievements in China's government countered swiftly and resolutely to realize a proactive fiscal guideline and loose monetary guideline appropriately supported on the progress.
Zhou Xiaochuan trusts that the prevailing Ministry of Finance and the Central Bank of the West extraordinary mandate to stabilize the market, often through a long political method, which is often the best course of achievement to omit the opportunity. Economists commonly purpose on the macro stage, the pro-cyclical, even so, at the micro stage, the prevailing market structure encompasses some noteworthy aspects of the pro-cyclical, in reply to the prevailing critical purpose, reorganise the fiscal procedure should be addressed. In the surviving market structure, it is needed to coordinate more in the micro-level method of the undo cycle (that is, a opposing opinion loop), in rank to assure a more unwavering fiscal system.
In response to these shortcomings, Zhou Xiaochuan pointed out the existing capital adequacy ratio to overcome the vulnerability of the capital in particular, the cyclical nature of the buffer, the departments responsible for financial stability could play a professional role; and in fiscal policy, the development of the use of reverse-cycle multiplier, Shun-cycle inhibitory factor 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 alertness on the world will convene in early April of the G20 summit in London, promising to find advances the world economic procedure, "Moses out of Egypt." Lai Sze Lee try to diagram out, "Despite the prevailing purpose of alertness throughout the world is how to resolve the G20 monetary and fiscal critical purpose, but in certainty, more nations will like more long-term."
Chinese Academy of Social Sciences Institute of World Economics and Politics, deputy director of the international financial research, said Zhang Ming, Zhou Xiaochuan made a few days ago to reform the international monetary system for the medium and long-term vision, short term more difficult to achieve. Once these ideas into reality, in the long run is bound to weaken the dollar's status, it is not surprising that Obama opposed.
But Zhang Ming accepts as factual that the summit seems to have been engaged in too numerous high anticipations of the parties that this be accomplished at one time utilitarian mentality, and finally may become "non-weight bearing", to replicate the errors G20 summit in Washington, it is tough to to come to any of the urgent position in the release or reconstruction of the worldwide monetary scheme of the substantive program.
Not long ago at a press conference on the closing date, the central bank website at 20:35 on the 26th once again signed by the central bank issued the Institute of Finance "of the reform of the international financial supervision system, few understand." In this paper, that the parties to the reform despite the current financial system made a lot of suggestions and form some consensus, but there is still "a number of issues yet to be fully aware of the parties or to reach a consensus", so to remind the parties to pay attention to the existence of the following five questions: the first step to improve financial supervision is the supervision of self-criticism; the introduction of macro-management parameters of the cycle, reverse cycle to strengthen mechanisms; regulatory agencies need to enhance the quality, or lack of supervision of the market experience and feeling; to strengthen the use of rating and rating agencies supervision; concerned about the issue of corporate governance.
This is Zhou Xiaochuan, following the March 23, the 24th following sites in the midpoint bank has issued a noted portion of the third. Zhou Xiaochuan made before the global monetary procedure and on the query of the fundamental thought of savings, it is proposed to bring ahead super-sovereign retain currency throughout the world attention. Obama President of the United States straight away articulated that "the prevailing tough dollar." Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Timothy Geithner in addition refused the U.S. request to give up.
However, Zhou Xiaochuan, the suggestion has been many of evolving nations and some worldwide organizations. March 24, the International Monetary Fund answered positively to the recommendations of Zhou Xiaochuan, leader of the organisation Kahn said in Paris on the 25th, the Chinese super-sovereign worldwide book currency of the suggestion is reasonable. Zhou Xiaochuan, the suggestion furthermore sustained by the Russian and other "BRIC countries" to support, at the identical time, the European Union to force the United States put ahead to shatter the vintage scheme of worldwide finance.
On the eve of the G20 summit to China and the United States acing for both boundaries for an global fiscal discussion, is way of heating up.
Binding means for the establishment of turn around cycle capital
Zhou Xiaochuan, said the writer, the total, China's macro-control guidelines are commencing to withstand yield, there are some primary pointers of warmer signals of quick descent in monetary expansion has been checked the minimal situation. These achievements in China's government countered swiftly and resolutely to realize a proactive fiscal guideline and loose monetary guideline appropriately supported on the progress.
Zhou Xiaochuan trusts that the prevailing Ministry of Finance and the Central Bank of the West extraordinary mandate to stabilize the market, often through a long political method, which is often the best course of achievement to omit the opportunity. Economists commonly purpose on the macro stage, the pro-cyclical, even so, at the micro stage, the prevailing market structure encompasses some noteworthy aspects of the pro-cyclical, in reply to the prevailing critical purpose, reorganise the fiscal procedure should be addressed. In the surviving market structure, it is needed to coordinate more in the micro-level method of the undo cycle (that is, a opposing opinion loop), in rank to assure a more unwavering fiscal system.
In response to these shortcomings, Zhou Xiaochuan pointed out the existing capital adequacy ratio to overcome the vulnerability of the capital in particular, the cyclical nature of the buffer, the departments responsible for financial stability could play a professional role; and in fiscal policy, the development of the use of reverse-cycle multiplier, Shun-cycle inhibitory factor 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 alertness on the world will convene in early April of the G20 summit in London, promising to find advances the world economic procedure, "Moses out of Egypt." Lai Sze Lee try to diagram out, "Despite the prevailing purpose of alertness throughout the world is how to resolve the G20 monetary and fiscal critical purpose, but in certainty, more nations will like more long-term."
Chinese Academy of Social Sciences Institute of World Economics and Politics, deputy director of the international financial research, said Zhang Ming, Zhou Xiaochuan made a few days ago to reform the international monetary system for the medium and long-term vision, short term more difficult to achieve. Once these ideas into reality, in the long run is bound to weaken the dollar's status, it is not surprising that Obama opposed.
But Zhang Ming accepts as factual that the summit seems to have been engaged in too numerous high anticipations of the parties that this be accomplished at one time utilitarian mentality, and finally may become "non-weight bearing", to replicate the errors G20 summit in Washington, it is tough to to come to any of the urgent position in the release or reconstruction of the worldwide monetary scheme of the substantive program.
Not long ago at a press conference on the closing date, the central bank website at 20:35 on the 26th once again signed by the central bank issued the Institute of Finance "of the reform of the international financial supervision system, few understand." In this paper, that the parties to the reform despite the current financial system made a lot of suggestions and form some consensus, but there is still "a number of issues yet to be fully aware of the parties or to reach a consensus", so to remind the parties to pay attention to the existence of the following five questions: the first step to improve financial supervision is the supervision of self-criticism; the introduction of macro-management parameters of the cycle, reverse cycle to strengthen mechanisms; regulatory agencies need to enhance the quality, or lack of supervision of the market experience and feeling; to strengthen the use of rating and rating agencies supervision; concerned about the issue of corporate governance.
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