Editor's note "" hot money ". The words used to describe the current China's foreign exchange reserves on hand, does not appear to be overstated. According to figures released by the Central Bank, as of September, the State's foreign exchange reserves totaled US $ 3.2017 trillion. Although reserves sufficient for enhancing China's capacity to pay, upgrading China's international status has a positive meaning, but it cannot be denied that foreign exchange reserves grew too large, will pose challenges for reserves management and macroeconomic regulation and control. as Central Bank Governor Zhou xiaochuan said, A reasonable level of current foreign exchange reserve has more than China needs. it was therefore questioned: why so many foreign exchange reserves investment and to the people who? why not invested in the areas of people's livelihood? but it is used to buy increasing default risk of the United States Treasury. " Foreign reserves spent "a hot topic for a moment. However, not long ago, Lan Xin, Professor at the University of Geneva" foreign exchange reserves are people sweat "remarks, immediately to lead topic –
Reserves what is who of? is people of? also is Government of? first threw opened professional of financial technology problem, this field continued moment of debate behind, highlights of is social on huge national wealth of general concerns, and public on reserves informed right of lack. "author" reporter Huang Yingying Zhao Wang from Beijing, and Geneva Switzerland Geneva University Professor phase Lan Xin "China exchange of fundamental sources, is China workers years hard labor of accumulation, they of hard labor let China in foreign trade in the occupy advantage." Was said, foreign directly investment entered China Shi to conversion for Yuan, this with people of "sweat" no relationship. This saying confusion has a concept--national balance payments. foreigners in China investment of amount, and China export ability size directly related. China of export Fake Miu Miu Bags ability more strong, outside investment on more willing to came in. China exchange of fundamental sources, is China workers years yilai hard labor of accumulation
, They of hard labor let China in foreign trade in the occupy advantage. While, reserves of constitute is a organic overall, cannot with digital simple to inorganic segmentation, think China reserves a part is not China people of "sweat". I does not support with reserves to national mass "sent sugar" of behavior. with reserves "sent sugar", just has symbol significance, just indicates that China huge of reserves with China people is closely related to. China reserves hard-, to with in relationship national economic, and Fake Miu Miu Bags Social development of important project and maintenance national interests of action Shang. China reserves not only is China people of "sweat", also should for China national strategy interests service. China domestic has scholars and institutions think, international currency system and international political no associated, Exchange operation should is pure market behavior, should implementation Exchange operation "non-political of", even made, China reserves does not should for China diplomatic work service. I Caine
Put the against this a views. international currency system of operation most can reflect powers between political relationship. Shang century 50 generation, United States in Suez Canal war Shang on had to "is no longer support pounds" threat United Kingdom, forced United Kingdom gave up intervention Suez Canal war. like such using currency reached diplomatic purpose examples abound, is feast and is not exception. in relates to China core interests of major problem Shang, to looking for various may hit opponent vital of means, using China hands master of strong reserves as weapons, Maintenance China core interests does not by violations. China can using reserves purchased world more of intellectual property and technology results, guarantee China in new a round global technology competition in the has more large of Hou made advantage; while, China reserves in the equity assets proportion still has is large of improve space; also, also can using reserves investment excellent of globalization transnational enterprise, attracted abroad Enterprise joined China capital markets, gets long-term of investment received
Yi. China also can using reserves investment outside energy, and mineral, resources project and and of related of entity, mitigation China economic development in the of resources bottlenecks problem. current reserves in the dollars assets proportion had large, should wanted to do approach implementation reserves diversified, increases non-dollars currency and gold proportion. and main industrial national compared to, China gold reserves proportion partial less. Despite European economic and Euro prospects now does not clear, Mulberry Replica Bags but I on euro prospects does not pessimistic. Germany, and France, and Italy, EU main national has formed consensus, agreed with cuts expenditure this correctly of means, to resolved Europe debt problem. United States also exists debt crisis, but United States people is impossible, and also does not willing to cuts expenditure, instead take quantitative loose of means, United States now is "lice more has does not itch, and debt more has does not worry". and European debt crisis compared to, United States debt crisis more like is a "black hole". on dollars assets, necessary Shi even can "cut meat", is
This loss is also worth. Vice President of Renmin University of China Institute Mulberry Replica Bags of finance and Zhao Xijun "nobody to create reserves, is printing money to buy back, so it does not exist or to whom." Exchange and reserves is two concept. exchange income sources Yu export and foreign investment; such as enterprise sold things to foreigners, received has foreigners of money, received of foreign currency is Exchange; foreign investment came in, needs to foreign currency exchange into Yuan. this part exchange to of foreign currency is Exchange. Exchange wants to became reserves words, needs national pay to buy. national of money part from people of tax and other of national assets, such as gold like of assets ; The other part from the State to inject money. If a country is for all citizens, then eventually end, reserves should be owned by all citizens, not just the civilian population, as well as government officials, also a businessman. nominated but it reflected in civil building
Government of book Shang. people Bank purchased Exchange needs issued must currency, and issued currency of power is all citizens gives of. reserves eventually owned all citizens all, and was authorized management This copies assets of, is by all citizens election established up of Government of specifically sector. theory for, as long as all citizens agreed min, reserves is can min of. but problem is, we of many assets is difficult to in physical level up min to each citizens hand in. such as Wangfujing of that tablets to is belonging to all citizens of, But physical level Shang is difficult to will there of land min to everyone. reserves is people Bank printing of banknotes buy back of. Despite all citizens gives has people Bank printing banknotes of power, but people Bank cannot unlimited to printing banknotes and min to everyone. Printing how many banknotes, with everyone can enjoy how many welfare is does not as of. people Bank now more printing has banknotes, but this part banknotes is no corresponds to commodity of. such words, banknotes
Also on no value. reserves from essentially speaking is printing has banknotes buy back of things, and is not like tax as, to created out of wealth of part free to to has national, then national through subsidies medical, and education, welfare, also conducive to people. reserves who also no to created, is printing banknotes buy back of, so also does not exists also to who of problem. modern international relationship Institute researcher Jiang Yong "If will reserves min off words, on is equal to is spamming Yuan, led of results is inflation." Was said reserves is not people of money, this views is absurd of. first, reserves of sources regardless of is export also is foreign investment, are is by masses created of wealth for to of, this is is undoubtedly of. Although reserves is people of money, but is not said it can casually min to people. If will these money min off words, on is equal to is spamming Yuan, led of results is inflation. Exchange
Reserves most important of role is guarantee external paid, and stability exchange rate, and improve financing ability and resistance financial risk. These role is to through representative people to exercise power of Government to implementation of, but in fact is due to sense insufficient, or other interests relationship, causes, Government and no is good to in accordance with the people of will of to using this pen money., for example many people puzzling, why Government to holds so more dollars bonds, And does not will its replaced gold. This is we in reserves policy Shang of a misjudgment. for example has been finds United States has ability, and has wishes implemented "strong dollars", attachments adhere to "gold useless on the", prematurely finds "gold bubble". from Southeast Asia and Latin America of some national of experience view, mass foreign investment of withdrawal will will caused a national of financial unrest, outbreak financial crisis. to prevent this things in China occurred, I think should will China reserves in the of part used to replacement in China foreign shares, This is a
Can significantly to reduced reserves shrink of risk, reduced reserves management cost, while increased investment proceeds; II is will this pen funds transformation for domestic of equity words, can promotion domestic of economic and financial security, enhanced national enterprise of competitiveness and market Shang of led status; three is reduces future foreign withdrawal to China brings of financial shocks of risk. users micro-Bo services this "rules of procedure of the" version weekly launched a hot topics, invites general readers participation discussion, views, welcomes you login this official micro-Bo, Leave your personal opinion on the subject. selection and your wonderful ideas are likely to be published. our microblog: http://weibo.com/gjxqdb@ South China Agricultural University _09 2 _ He Mingtao: since the Exchange have been sold to a Bank, is that foreign exchange reserves belonging to the Bank, if the banks are State-owned, so you can understand is the country 's, and since China is a socialist country, economic system
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