Us credit card breach rate new high

The associated press reports that the United States on 15 may credit card breach rates may soar high means that the United States consumers in this economic crisis is still in his pressure.

United States the major banks in the United States, the largest bank in May this year the Bank's credit card breach rates from April 10.47% 12.50%; occupy the United States 1/4 credit card payment market in the United States express card breach rates from April 9.99% 10.4%; Citigroup credit card breach rate rose to 10.5%; major banks in the performance of the best is JP Morgan, its 5 months credit card breach rates from last month's 8.07% rose to 8.36%.

The associated press reported that some industry insiders predict that this year the United States credit card industry faces global default rate may exceed 10 per cent, which means that the credit losses were as high as $ 700 billion.

Japan September Enterprise price index continued to decline

Japan Central Bank-the Bank of Japan announced 14 speed report data show that in September of this year, Japan enterprises price to 103, declining 7.9%, continuous decline in 9 months of year-over-year decrease of slightly less than 7, and 8 two-month 8.5% of historical highest level.

Data show that in September of this year to Japan in Japanese yen, the export price index respectively 100.7 and 88.3, an decrease 31.2 13.6 percent.

In the statistics of 5 major categories of products, industrial products, agricultural and forestry products, such as electricity, gas, scrap metal into four categories of product price index up respectively 7.7%, 3.2%, 10.4% and 33.5%, compared to only mineral prices weizhang 0.2%.

In the industrial products including for 18 products, 14 products prices are declining year-on-year. Among them, drop larger product is petroleum and coal products, nonferrous metals, steel and chemical products, an increase of 38%, respectively, declined 20.2%, 18.9% and 12.6%; the prices rise of 4 products, transport machinery, ceramics products price increase for larger, up up 3.3% respectively and 2.8%.

Data indicate that the petroleum products, non-ferrous metals, steel and chemical products prices year-over-year decline remains a cause for the September Japan enterprises price index continued to fall.

Enterprise price reflect the inter-firm trading commodity price levels, it is with the CPI is a measure of the level of important indicators of inflation.

The economy is good omen-us export data may even rise

According to the Shanghai Securities News reported that the United States August trade deficit unexpectedly appeared 4 months of the first narrows, exports increased to its highest level during the year, export data to a sustained increase in five months, this case can be seen the economic prospects as a good omen. At the same time, while the price increase, but the imported data.

United States Department of Commerce announced last Friday, the United States August international goods and services trade deficit declines 3.6% to 307.1 million, lower than last month's amended 318.5 billion. July trade deficit of $ 319.6 initial data.

This is the United States trade deficit since may decline, for the first time exceeded Wall Street expectations.

Accept the Dow Jones News Service survey of economists had expected deficit will further expand to 336 billion. Oil prices rebound in the near future to promote United States trade deficit continues to expand. Due to the recession resulted in import demand weakened, earlier this year, the United States trade deficit narrowed briefly.

United States August exports growth 0.2%, to $ 1282.2 1280 million last month, the month of December last year, reaching $ 1329.2 highest level ever. Current month decline 0.6% of imports, to 1589.3 billion, was the first time since may appear. July imports 1598.5 billion.

United States crude oil imports for the month of August 173.8 million lower than the July 185.1 billion, although the current oil prices continue to rise, but imports declined. Crude oil import price rise $ 2.27 64.75 dollars per barrel. Crude oil imports from last month's 2.963 million barrels to 2.684 billion barrels.

At the same time, some of the major export economies recently released the latest data show that trade may start to catch up with the fledgling global economic recovery.

Korea, China, Taiwan and Brazil has announced a September trade data, all showed a growth in the last month, but still well below the level of a year-on-year.

Analysts noted that the global market is a big problem, and after the next month, Europe and consumer demand will result in a late holiday orders. Holiday shopping quarter orders usually begin in the summer. But this year, European and American retailers as much as possible to defer making a decision, or to order more. They don't want a repeat of last year, when the financial crisis led to the decline in consumer demand, inventory, and with it increased rapidly.

France during the third quarter of foreign trade deficit shrinks

France customs published the latest information, such as automobile, aircraft products export relatively substantial increase in the third quarter of this year France trade deficit shrinks sharply to 46.46 billion euros, and set the end of the quarter of 2004.

During the third quarter of this year, France imports reached € 927.66, ring than decline 0.7% year-over-year decline sharply; when the quarter 21.8% France exports surge ring than 5.7% to $ 881.2 billion, this was the beginning of 2008 France export growth in the first quarter.

The trade deficit narrowed substantially, France mainly due to the increase in exports, in particular, delivery of equipment and industrial semi-finished exports increase significantly. During the third quarter of this year, France automobile, aviation transportation vehicles and ship merchandise exports more than central 14%, base chemicals and metals products increase the ring than at 7.9 also 8.6 percent.

2007 France's trade deficit 405.65 billion euros last year, France trade deficit has reached a record € 556.58. Since the beginning of this year France's situation gradually changed, it is expected that this year's foreign trade deficit should not be exceeded in 2007.

Euro strong recovery in the euro area is raised concern

The Wall Street Journal October 19 hearing: Euro strength could endanger the recovery of the euro area economy stronger and stronger political concern, in this context, 16 countries in the euro area Finance Ministers meeting in Luxembourg on Monday. In the Council of Ministers on a regular basis to discuss the issue of positive values in euro currency European political agenda is becoming more and more significant. Since March this year, EUR/USD exchange rate increased by 20%, against the pound and RMB also significantly stronger. The US dollar against the euro last week reached 14-month low, partly governed by the United States also remains low interest rate expectations. Economists say euros against the euro area trade-weighted basket of currencies in the past year increased by 10%, some estimates, this is enough to make the euro area economy to grow one percentage point.

Last December the euro zone industrial orders rose by 0.8% qoq.

24 <P> Eurostat data released showed the euro zone industrial new orders in December 2009 increased by 0.8% qoq, an increase of 9.5%. .</ P> <P> revised data show that last November, the euro zone industrial new orders increased by 2.7% qoq, down 0.6%. .</ P> <P> If the volatile ships, railway and aerospace equipment orders excluded, the euro zone industrial new orders in December last year, were down 0.4%, up 8.1%. .</ P> <P> compared with November 2009, the euro area in December last year, orders for capital goods and non-durable goods orders rose by 7.0% and 0.3%, durable consumer goods and intermediate goods orders decreased by 1.5% and 4.1 .%. .</ P> <P> data also show that the 27-nation European Union in December last year, the chain of industrial orders rose by 0.6%, up 6.3%. .</ P> <P> financial crisis, the eurozone and the EU industrial orders plummeted once, but over time has shown signs of picking up. .</ P>.

Wall Street at the end of the three giants or bonuses

According to reports, market participants estimate of Goldman Sachs, Morgan Stanley, JP Morgan largest Wall Street giants end of bonuses granted may be close to 300 billion, equivalent to every employee on average about $ 25 million, the United States last year medium household income 5 times.

Data shows that the big three bonus at the end of last year, greatly increased 60 percent, even beyond the 268 million in 2007, the industry's highest standards. However, due to pressure from regulators, the big three cash prizes may be delayed, or to the right to substitute cash bonus in the form.

Goldman Sachs executives recently said, including Goldman Sachs, Wall Street institutions achieve huge profits and bonuses is the world economy began to recover in the signal.

Analysts believe that Wall Street bonuses issued three giants may again raise public questioning. After all, now the global economy has not yet stabilised, the United States the unemployment rate has risen to double digits, the real estate market downturn. Three giants "wanton", any reason can change ingrained greed on Wall Street.

Domestic commodity market performance of vulnerable eye-catching steel shock.

AP <P> 4 月 13 outside the plate by overnight weakness of commodity futures, commodity markets today, weak domestic shocks, the majority of species fell, but the steel eye-catching performance. .</ P> <P> metal futures, 1007, Shanghai copper lower opening shock, or 1.23%; 1007 Shanghai aluminum futures finished lower, while the recent intraday record high of 17,190, but closed Weicuo 0.15%; 1007 and Shanghai zinc .Shanghai Gold 1006 were also down 1.23% and 0.94%; the rising spot prices of steel continue to be strong, Shanghai thread 1010 l 0.23%, Shanghai up 1.56% wire 1005. .</ P> <P> energy and chemical futures, Shanghai fuel oil weakened following the 1006, down 0.11%; Hujiao 1009 uplink weak, down 0.8%. .Moreover, even plastic 1009 or 0.25%, 0.69% or even PVC1009, Zheng PTA1009 down 0.44%. .</ P> <P> most varieties of agricultural products futures ended lower, but the decline did not exceed 1%. .Continuation of yesterday's gains which sugar Zheng, 1101 increased slightly by 0.08%. .</ P>.

Switzerland will be submitted to the US secret accounts list

The Ministry of Justice of 17, Switzerland, the United States announced a secret bank account in Switzerland United States large customer list.

Switzerland Bank over a long period of implementation of the privacy policy for a large number of customers, but also incurs the convenience of our customers, such as tax evasion.

In the United States pressure, UBS, acknowledged the help portion of the United States tax withholding income, agreed to pay fines and United States Government back taxes total $ 7.8 and submit a list of 250 customers. But the United States Government is not satisfied. UBS August compromise agreed to provide to us for serious tax evasion 4450 United States customer list.

Switzerland will provide the Ministry of Justice in 2001 to 2008 in secret account deposit more than 100 000 Switzerland francs (approximately US $ 98.6 million) of the United States customer information. Will be submitted also in overseas companies of United States citizens in the same period account information.

If the evidence of the customer "fraud", information on the open standard will fall to 25 000 Switzerland francs (hop 24.6 million).

According to the standards of the Ministry of Justice, at least 3 years of average annual income of more than 10 000 Switzerland francs (hop 9.83 million) of the customer in public.

EU assistance to Greece will refuse to be punished: If the settlement crisis in the UK can only help themselves.

<P> According to Hong Kong Commercial Daily news, according to the British "Daily Telegraph" reported that the British attitude of Greece does not participate in the euro area large-scale rescue plan, many EU countries warned Britain that if the country's financial crisis will be .punishment, not the EU assistance. .</ P> <P> as the British do not have 378 billion pounds of the rescue plan was signed, whether or non-euro countries eurozone officials have said that if the UK into a financial crisis should not be to other European countries for help, and .its not get assistance. .</ P> <P> France, Sweden and other EU countries are predicted, the British suffered only a matter of time before the crisis, while the euro has been strong this weekend will be the impact. .Served as French minister responsible for EU affairs, is now the Secretary for the French Authority for Financial Markets -  Pierre Jouyet said that the British ignored the euro zone partners, and then when it faced financial crisis, "only God can .to save it. " .</ P> <P> also reported that the Bank of England Governor Mervyn King said on the 12th, Britain's new coalition government's deficit reduction plan is to develop "robust", he said the British economic outlook cautious optimism. .</ P> <P> King Bank of England released a report that inflation, the new British government's most important issues currently facing is to deal with the challenges of huge budget deficit, which is the UK economy is facing the most serious problems. .King said he has seen the Conservatives and Liberal Democrats to achieve the deficit reduction plan that cut the deficit to speed up the program made a very clear and binding commitment. .He believes this is a strong agreement, and hope the new government to take further measures to reduce the budget deficit. .</ P> <P> King cautiously optimistic on the UK economy is expected to accelerate growth in the second quarter. .He also expects consumer prices in the UK some time to come will continue to rise, but is expected to 2% next year within the control objectives. .</ P> <P> At the same time, the British National Bureau of Statistics released the latest data show that a quarter of the UK unemployment rate rose to a high of 8% over the fourth quarter of last year, up 0.2 percentage points, since September 1996 .the highest level. .</ P>.

Prosperity and decline from the global pattern of soccer.

<P> The world, according to Shanghai Securities News reported that the first time in the post-crisis era football feast, the first African host, has great symbolic significance. .Careful inquiry about the global economy and the pattern of change in world football has many similarities to list about five. .</ P> <P> First, the global economy and world football were shown patterns of diversity. .Developed and emerging markets in the global economy into equilibrium in the proportion of the total. .Purchasing power parity calculations, the developed economies in 1980, the total proportion of the world economy than the 27.6 percentage points higher in emerging markets, while in 2009 this gap has substantially narrowed to 7.6 percentage points. .Enterprise strength in emerging markets are increasing rapidly from 1999 to 2009 global market value of the top 25 companies, for example, in 1999 top 25 are from developed economies; 2009, from companies in emerging market economies accounted for 5. .From 2009 World Economic Forum competitiveness rankings look at the 11 Asian emerging market economies before the 32 finalists of the series, breaking the long years in Europe, America and Japan third race for pattern. .</ P> <P> contrast, trends in world football, mainly reflected in the diversity: Europe, Italy, Germany and Latin America, Uruguay, Brazil dominated the World Cup before the seventh, but the sudden emergence of England, Argentina and France .four won the World Cup, the championship of the economy to meddle in the number increased to seven, while the rapid increase in the level of Asian and African football, breaking the two continents of Europe and Latin America ended the monopoly of the World Cup, the participating economies, the number and proportion of a .increased. .South Africa 2010 World Cup in 32, emerging market economies to 18, the proportion rose to 56.25%, exceeding the number of entries in developed economies. .In the end of May 2010 FIFA announced the top 50 global ranking list, the 19 economies in Asia, Africa into the list, while in Latin America, Africa and Asian economies accounted for 8 seats, respectively, 8 seats and 3 seats, which also reflects .the standard of football in emerging market economies the rapid increase, promote the diversification of the pattern of world football. .</ P> <P> Second, over the past decade, the rapid growth of emerging market economies to the global economic landscape is undergoing a fundamental change in the total amount of its share of the global economy growing. .According to purchasing power parity estimates, 2009 GDP share of global emerging market share from 36.2% in 1980 rose to 46.2%, 30 years a substantial increase of 10 percentage points. .Its status in world football, along steadily. .In the World Cup championship to Brazil, Argentina and Uruguay are represented by emerging market economies, and to Italy, Germany, England and France as the representative of the developed economies have equal shares. .</ P> <P> Third, the developed economies in the economic and competitive football is still higher than emerging markets. .Economic level, total economic output in developed economies still dominate the global forefront. .The scale of 2009 global GDP ranking in 17 of 32 developed economies, and its share of global GDP share of the total size of up to 50.5%; while the other 15 emerging market economies the total size of GDP accounted for 19.3% of the world. .From 2009 World Economic Forum's competitiveness ranking list economies of view, 19 developed economies, the top 32 finalists, not only their number more than emerging markets, and its average ranking of 12 emerging markets, far ahead of 22 in the rankings. .It is worth emphasizing that the developed economies account for 9 of the top 10 list, only Singapore ranked No. 3. .Level in football, FIFA developed economies occupy the top 10 of the top 8 seats, and the top 32 developed economies in the FIFA points higher than the average emerging markets. .If the historical record of World Cup top 10 economies, for example, the developed economies, which account for 7 seats, and only the emerging markets of Brazil, Argentina and Russia. .Developed in Europe as the representative of the domestic economy and marketization level of professional soccer league is much higher than emerging markets. .</ P> <P> Fourth, the regional emerging markets in the global economy and the difference between football in the larger pattern. ."BRIC" China, India, Brazil and Russia will continue to lead the rapid economic growth in emerging markets, global emerging market countries, the representation of the first echelon, and other emerging markets in Asia has become the main force of the first echelon, South Africa and Egypt .leader in Africa, Chile and Argentina led Latin America and Eastern Europe were formed in the second, third and fourth tier. .However, the regional emerging markets in the balance of power in international football and there is considerable difference in economic development. .Led by Brazil and Argentina Latin American superior strength, worthy of the first echelon in the emerging markets; of the African lion, led by Nigeria, Cameroon and the African Eagle African living in the second echelon; and emerging markets in Eastern Europe and Asia were living in the third and fourth .echelon. .</ P> <P> Fifth, the leader in the global economy and lead their football has narrowed, but still no can shake. .The global financial crisis of epic proportions to make the United States experienced the most severe since the Great Depression, recession, unprecedented in the financial sector suffered heavy losses, but with its leading global technology standards, a sound market mechanism and strong military power, the United States remains the world .economic leader. .Quite similar to that Pele, Zico, Socrates, Romario, Bebeto, Ronaldo, Rivaldo and Ronaldinho and other top football stars of the excellent performance, making Brazil a .the world's only won the trophy five times the economy, but with the retirement of top stars and coaches change of style, Brazil, there was greater decline in performance, the 2006 World Cup semi-finals by France outside the block in ., FIFA ranking fell to fifth. .However, since Dunga as coach in 2007 after its adoption to create "Trident + front + Tieyao fly with both wings," the combination of transformation of the Brazilian samba in Europe Legion of, respectively, and the America's Cup in 2007 .2009 FIFA Confederations Cup title, once again boarded the FIFA world number one spot. .</ P>.

Quantitative easing into the "second quarter" of funds compete in the global commodity.

<P> In global stock markets rose in the latest wave of massive resources and commodities play a crucial role. .Continuous record in the gold under the guidance of crude oil, copper, cotton and other commodities have continued to surge, the highest ever number of years or even high. .</ P> <P> from the end of August to mid-October period, covering 19 kinds of commodities futures Reuters / Jeffries CRB commodity index rose by nearly 14% to two-year high. .Analysts pointed out that the quantitative easing policy with the West into the "second quarter", the increasingly global spread of financial market liquidity, the dollar fell again into a channel, but for concerns about future inflation are also increasing. .In this case, investment in commodities as an alternative to the charm of the subject of increasingly prominent types of funds have been pouring into the field. .</ P> <P> in China, commodity investment boom is also a great warming trend. .A shares listed on the recent commodity stocks continued to hit, some colored varieties is a continuous daily limit. .At the same time, China's first commodity index ETF - ETF commodities on the card is expected to launch in the fourth quarter, to investors involved in commodities provides a new way of investment. .⊙ reporter Zhuzhou Liang </ P> <P> open the flow of U.S. and Japanese central banks of the gate </ P> <P> after bottoming out with the financial crisis, the strongest wave of economic rebound in the second peak in the third quarter ., the major Western central banks set monetary policy line began to "second amendment." .Normalization of the original plan to gradually return to the policy of some countries, the pace began to suspend the exit, turn to consider the implementation of the new monetary policy stimulus, a typical representative of the Federal Reserve and the Bank of Japan. .</ P> <P> on September 21 in the latest meeting on interest rates, the Fed clearly show a willingness to adopt more stimulative monetary policy measures of intention. .According to last week's minutes of the meeting documents, the majority of decision-making members of the Fed's view that the Federal Open should continue to historically low interest rates, and may be "soon" launch a further easing monetary policy. .</ P> <P> meeting revealed that many participants pointed out that if economic growth remains too low to reduce unemployment, or inflation rate remained below the appropriate level of the Fed that the Fed will take additional monetary easing .. .Many analysts believe that in early November next meeting on interest rates, the Fed may introduce additional stimulus measures, mainly to purchase the bonds, the scale may be more than 500 billion U.S. dollars or more. .</ P> <P> which has been mired in deflation, the Bank of Japan unexpectedly announced earlier this month, will have near-zero interest rates continued to fall back again after a lapse of 4 years of zero interest rate policy, while pushing the tens of trillions of new .yen asset purchase program, quantitative easing intent shown. .</ P> <P> other major Western central banks, the Bank of England has hinted will continue to ease monetary policy. .Bank of England policy makers Posen said last week that the global economy needs more monetary stimulus to avoid the repeat of the European decision-makers in the last century, 30 years in the past. .Cameron claimed the Prime Minister, the risk facing the UK economy, but monetary policy to boost economic growth remains the most effective means, rather than fiscal measures. .</ P> <P> the Global Fund to "get together" commodities </ P> <P> new dishing out major economic weight of "printing" heavy weapons, to bring in more liquidity to the market, but also with .to no small "side effects", such as asset price inflation, as inflation is expected to heat, such as the raging hot money in emerging markets. .</ P> <P> this end, the policy of many emerging economies, the authorities have begun to plan ahead, take specific measures to curb the excessive influx of hot money, and prevent potential higher inflation. .</ P> <P>, for example, as an anti-inflationary measure, the MAS announced last week, will expand the range of Singapore dollar exchange rate fluctuations. .Unlike most countries, Singapore, mainly through exchange rate adjustments to achieve the monetary policy intentions. .Given the current risk of inflation has been significantly biased, the Singapore authorities tend to tighten monetary policy. .</ P> <P> Also last week, Thai authorities unexpectedly announced that it would gain foreign investment in local bonds 15% of the profits tax imposed to curb the influx of hot money too fast and induce severe market fluctuations. .Similarly afflicted by the hot money is the Brazilian government announced earlier this month, foreign investment in bonds will be doubled tax rate to 4%. .In Hong Kong, China, authorities have recently introduced a new package of regulatory measures to prevent the tendency of the property market bubble. .A similar tendency is also troubled asset bubbles in many other emerging economies. .</ P> <P> a new round of another large-scale effects of quantitative easing, the dollar is the result of the global currency remained low, with a corresponding dollar-denominated commodities also give a boost. .UBS recently announced goal to reduce the one-month U.S. dollar exchange rate, as expected the Fed will ease policy next month's meeting. .UBS said the dollar against the euro will reach $ 1.4 within a month, the previous target of $ 1.35; U.S. dollar against the yen to 80 yen to 85 yen before the expected. .</ P> <P> rise in inflation, in the context of the weak dollar, commodities become more and more attractive investment, which from the recent large-scale intervention of international capital can be seen in this section. .Professional fund tracking agency statistics show that over the past five weeks, the global net inflow of funds will continue to fund all kinds of commodities. .Among them, some commodity producers, especially in countries with sought after by investors, such as South Africa, Russia, Brazil and so on. .</ P> <P> from the big trend in recent years, funds investing in commodities boom has not ceased. .According to statistics, in 2004 the global scale of commodity index funds only 5 billion, but by 2007 it expanded to 1,500 billion U.S. dollars. .Morningstar's data show that, even in the financial crisis of 2008, global commodity ETF has also attracted about 262 billion dollars of net inflows. .</ P> <P> Chinese commodities boom in full swing </ P> <P> industry noted that in recent years, major new commodity markets from index funds of funds. .A new report from UBS, the current global investment in commodity index funds has reached 200 billion U.S. dollars of scale, of which 55% of investment in energy, 15% investment in the metal, the remaining investment in other commodities. .</ P> <P> from the recent wave of commodity prices look relatively more prominent non-ferrous metals such as gold, has recently been a record high, reached last week near the $ 1,377 from $ 1,500 a lot of people expected short-term .targets have been not far off. .Investment bank Goldman Sachs predicted last week raised the price of gold is expected to 3 months up to $ 1,400 gold, 6 months, up to $ 1,525, 12 months is expected to reach $ 1,650. .</ P> <P> Guotai Junan recent report points out that a possible global outbreak of a "currency war" against the backdrop of the global monetary system may be systematically devalued, this risk is expected to be near resource commodity prices the main factor prices .. .The agency particularly promising for metal, saying that "the exchange rate war" may be further stimulated in the short term metal prices. .Weak industrial property has hit a new high of gold expected to finance properties in the strongest industrial metals copper and zinc and other metal resources shortage will hit a new high in the short term. .</ P> <P> JP Morgan Managing Director and Chairman of China Securities and Commodities report recently published by Li Jing, the Chinese demand for commodities remained strong, especially on the demand for metals and oil imports will remain strong. .She pointed out that the next 12 months, due to relatively tight global supply and demand, JP Morgan Chase for the price of crude oil and copper optimistic about the prospects. .</ P> <P> on China's stock market investors, the good news is that China's first commodity index ETF will soon be available. .Industry to reliable sources, the Shanghai Commodity ETF is expected to launch in the fourth quarter, giving those who wish to share through the stock market rally in commodity prices to provide a targeted investment in new channels. .</ P> <P> It is reported that the Shanghai Commodity ETF tracking the Shanghai Commodity Index (000066.SH), the latter by the League of Nations Security Fund and China Securities Index Co., Ltd. jointly developed for the domestic Shanghai stock market based on first .commodity index. .Shanghai stock index over commodities that the whole sample of stock certificates as a sample space to sample space in the energy, industrial materials category, the three major categories of Agricultural commodity stocks trade stocks, choose a large market size, liquidity, good 50 .only commodities stocks into commodities index of Shanghai in order to comprehensively reflect the Shanghai stock market commodity-related industries and enterprises as a whole. .</ P> <P> third quarter, rising by the resources sector promotion, the Shanghai Commodity index has risen 40.2%, is particularly eye-catching, the Shanghai Composite Index over the same period rose to 17.04%. .</ P>.

Six central banks this week to discuss interest rates on hold or into the mainstream.

<P> This week the central bank will announce the latest six global interest rate decision, due to the recent release of the generally poor economic data, market expectations of Australia and New Zealand South Korea and other Asian central banks will not do anything, the United Kingdom, Canada and Brazil the central bank will also be inaction. .</ P> <P> Australia: economic growth cooling </ P> <P> this week, Reserve Bank of Australia (RBA) took the lead in Beijing at 11:30 on December 7 decision on interest rates. .Reserve Bank of Australia early in November had an accident rates by 25 basis points to 4.75%, but last week's third quarter gross domestic product (GDP) showed growth cooling, and the October retail sales unexpectedly decline, coupled with Federal Reserve Chairman Steven .Adams said the current level of interest rates on the right end, suggesting that the RBA may be a cease-fire for some time. .</ P> <P> Canada: less inflation pressure </ P> <P> Beijing Bank of Canada will be announced at 22:00 on December 7th interest rate decision, economists forecast, due to slower growth, Canada .the central bank will keep rates unchanged at 1%. .</ P> <P> OECD (OECD) that, while idle capacity in Canada over the past four quarters has dropped, but still considerable spare capacity, low price pressures. .Therefore, the Bank of Canada should continue to pause until the beginning of 2011. .</ P> <P> UK: unexpectedly strong economic data </ P> <P> Beijing Bank of England will be announced at 20:00 on December 9 decision on interest rates. .The current level of UK interest rates to 0.5%. .</ P> <P> the Bank of England Monetary Policy Committee (MPC) members Sentai Si has said that with the slow economic recovery, especially in the case of inflation above the target level, the central bank should raise interest rates gradually. .But on Thursday a survey of economists, the data suggest because of surprisingly strong economic recovery has taken root, the Bank of England may not do it again this month to take new initiatives, the interest rate at least in the next 10 months ago remained unchanged at 0.5% .. .</ P> <P> Brazil: interest rates in the world and in the forefront </ P> <P> Brazilian central bank will be announced Dec. 8 Monetary policy decisions, since the bank last week raised the deposit reserve breath rate of 5 percentage points, the market .Accordingly, determining the probability of greatly reduced interest rates this month. .</ P> <P> price pressures in recent months, Brazil, high jump, 12-month inflation rate accelerated to 5.5%, voice rising interest rates. .However, Brazil is the interest rate has risen to 10.75%, among the highest in the world, and will be inaugurated next year, New Year's commitment to President-elect Rousseff make the real interest rate from 5.25% large Kandao 2%. .Therefore, the market is expected to cut interest rates early next year, Brazil may, instead of raising interest rates. .</ P> <P> New Zealand: The inflation outlook is weak </ P> <P> New Zealand will be held Dec. 9 in Beijing's interest rate decision 04:00, rate hike likely as slim. .New Zealand from the end of July the Federal Reserve raising interest rates 25 basis points no longer move, New Zealand's inflation outlook is the main cause of depression. .Economists expect the Fed to New Zealand in the second quarter of 2011 was likely to raise interest rates. .</ P> <P> Korea: a continuous decline in industrial production </ P> <P> South Korea will be held Dec. 9 in Beijing's interest rate decision at 10:00, South Korea, in November announced the suspension of three months after raising interest rates rise .rates by 25 basis points, but last week in October industrial production unexpectedly fell the third consecutive month, plus won exchange rate shocks, the Bank of Korea will make the fixed place this month. .</ P>.

G20 meet China's desire to bring in five areas of Toronto results.

<P> Mechanism of the Group of Twenty first time after the (G20) summit this weekend in the local time in Toronto, Canada re-opened. .</ P> <P> in Europe, the challenges of sovereign debt crises, the full implementation of the "strong, sustainable and balanced growth framework" to enhance the Group of Twenty parties and macroeconomic policy coordination, strengthen the momentum of world economic recovery has become the world's leaders .were the primary topic of concern. .</ P> <P> the Chinese Academy of Social Sciences, Institute of World Economics and Politics Zhang Yuyan, director of the "First Financial Daily" said that in the next period of time can not find a replacement G20 summit occasion, but should seek their own how to .Good to play an active role in the balance. .</ P> <P> Yan Tsinghua University, Institute of International Studies Director General that, for East Asian countries, in order to prevent the financial crisis, global financial reform is better than mutual cooperation neighboring countries, may wish first to Japan and South Korea as the core ., the first in the North-East Asia does not depend on the dollar currency area. .</ P> <P> China hopes that the five aspects of practical results </ P> <P> will meet the G20 summit in Toronto, Canada, the police guard, it is learned, to prevent accidents, currently in the upcoming summit, the city center .nearby, some uprooting trees have been away, and the summit venue outside the iron fence erected, and strive to be the venue and the city apart. .</ P> <P> the addition to attending the summit leaders, members of the Group of Twenty, Asia, Africa, some European leaders of countries and regional organizations and the United Nations, the International Monetary Fund, the World Bank, the Financial Stability Council .World Trade Organization, the ILO and other international organizations, responsible persons will also be invited to attend. .</ P> <P> arrangements, according to the host country, the national leaders on June 26 and 27, has held a working dinner will be the plenary and working luncheon and other activities, to discuss the world economic situation, the European sovereign debt crises, "strong, .framework for sustainable and balanced growth, "the reform of international financial institutions, international trade and financial supervision. .</ P> <P> Vice Foreign Minister Cui June 18 briefing, Foreign Ministry expressed the hope that the summit results in the following five areas: First, full implementation of the "strong, sustainable and balanced growth framework" to enhance .Group of Twenty parties and macroeconomic policy coordination, the strengthening of world economic recovery; the second is to actively promote the International Monetary Fund in Seoul, the summit of the Group of Twenty completed before a new round of share reform, commitment to honor Pittsburgh; third is to continue to promote financial .regulatory reform, particularly to strengthen the supervision of rating agencies; Fourth, continue to oppose all forms of protectionism, the Doha Round negotiations; Fifth, greater attention to development issues, as will be in September at the United Nations Millennium Development Goals High-Level Meeting .provide political support. .</ P> <P> summit of the Group of Twenty however, the open structure of the form, make it practical effect to be challenged. .Yan Xuetong believes that in order to "continue to oppose trade protectionism," one, for example, is so far from the main topic of the first session, indicating that the summit of the Group of Twenty objection "is actually the summit will not stop the Group of Twenty's." .</ P> <P> experts called for construction of A3 and Monetary Union </ P> <P> in the conference, Vice Finance Minister Zhu also recently introduced the Group of Twenty Finance Ministers and Central Bank Governors Meeting for the Toronto Summit .preparations made by the policy. .</ P> <P> Zhu also said China at the meeting stressed that the global economy is strong, sustainable and balanced growth, developed countries should take effective measures to solve their own fatigue growth, unsustainable fiscal and other issues, remain the main .reserve currency is relatively stable, reduce the volatility of international financial markets; developing countries through reform and structural adjustment and promote economic growth. .</ P> <P> But Yan Xuetong, it seems that East Asian countries, in order to prevent the financial crisis, global financial reform is better than mutual cooperation neighbors. .</ P> <P> His recent Institute of International Studies at Tsinghua University in progress "Building A3 Monetary Union," authors of the report work. .The report considers that the existing global financial and monetary institutions can not overcome the negative impact of financial crisis, the emerging G20 summit on the global monetary system is difficult to carry out fundamental reforms, and the "10 +3" framework of construction of the East Asian regional monetary order .is difficult, which makes Japan and South Korea (A3) must rethink the global financial crisis, the area under the solution. .</ P> <P> The report recommended that the core of Japan and South Korea to build A3 Monetary Union, established in Northeast Asia is not dependent on the first dollar currency area, the establishment of the three coordination mechanisms and capital flows, exchange rate control mechanism, and the common .foreign exchange reserves management and international payments imbalances in the management mechanism. .</ P>.

Raised fears of a sharp decline in imports of Argentina

Argentina's President Cristina 20, that since the beginning of this year a substantial decline in Argentina imports are mainly due to the Government to protect domestic industry adopted a series of restrictive measures, not because the recession resulted in the decline in consumer demand.

According to the Argentina National Bureau of statistics released today, the first five months of this year realization 83.33 million in Argentina's trade surplus, and compared to the same period last year increased by 63%. The report analyses indicated that the first five months of this year, export trade are Argentina a downward trend, but because imports drop far exceeds the rate of decline of exports, compared to only allow a substantial increase in the foreign trade surplus. Statistics show that the first five months of this year's exports of Argentina has fallen by 40% year-on-year, five months of imports decreased year-over-year dropped 49% since September 2002 single imports decrease the maximum of one month.

Part of the Argentina research institutions and economists analyze that caused a sharp decline in imports of Argentina is due mainly to a significant decline in economic growth, the impact of the consumption. According to the report of the Argentina National Institute of statistics, in the first quarter of this year compared to Argentina's GDP increased by 2% in 2002, economic growth is slowest quarter. But most research institutions that Argentina's official statistics "EHO", Argentina's economy in the first quarter of this year, in fact already into recession.

Argentina importers Association President Diego · Santi Sturt ban said, a significant decline in Argentina imports are mainly due to the economic decline caused by declining consumption. Imports decreased gradually to the Argentina of the industrial sector, increased the extent of the recession. He pointed out that the Argentina Government in order to ensure that the ruling coalition won the parliamentary elections at the end of June, reinforces the restrictions on the import of products, also on import trade had a significant impact.

Christina on the day of the statement stressed that ' the Government to take measures to restrict imports is the first few months of imports dropped significantly. These policies protect Argentina's industry sector and the employment market, prove the countries on the need for economic intervention.

In addition, in May this year, the primary fiscal surplus for Argentina 9.15 billion pesos, and compared to the same period last year reduced by 85%. Due to the implementation of trade and financial surplus is the Argentina government economic policy core, so a significant decline in the financial surplus caused Economist fears. To this end, Argentina's President Cristina in today's speech emphasized that the financial surplus declined mainly due to the international financial crisis, instead of the Government's economic policy.

Russia-purchasing manager index create 10 months to new high

Russia recently published July manufacturing purchasing managers index rose to 48.4, invasive since last September, a new high, indicating that the recovery of Russian industrial production.

Russia manufacturing purchasing managers index by Russia foreign trade bank capital company on 300 enterprises following investigations. This index since the continuous rise in April, at the moment is approaching signs economic boom watershed of 50.

Russian economic development Minister Elvira-Nabil El Linna July said that Russia's economy in the first half of this year compared to the same period last year, is expected to decline 10.1% annual economy will decline 8% to 8.5%. The World Bank estimates that this year Russia economy will decrease 7.5% next year will increase 2.5%.

The economic recovery in the euro area faces three major risks

The European Commission published on 14 October, the latest projections show that in the financial crisis suffered by the euro area economy in the third quarter of this year out of the recession. Although the euro area economy is expected to advance to step on the road to recovery, but the front is full of uncertainty. Financial industry vulnerable, unemployment and government debt will be the economic recovery in the euro area faces three risks.

According to the European Commission's forecasts, the euro area economy in five consecutive quarters of negative growth than a ring, the third quarter of this year is expected to be "positive", ring 0.2% compared to the fourth quarter, the economy will be incremental 0.1%. Visible, the momentum of the recovery in the euro area is not very strong.

The euro area economy because of the continuing turmoil in financial markets and in the second quarter last year, followed by malice, and raises awareness of the euro area economy could be plunged into a lasting, deep recession worries. While the euro area economy was able to advance out of the recession, thanks to Member Governments have invested heavily to rescue the financial industry and stimulate economic growth. To some extent, the euro area, economic recovery is money "heap".

Because timely assistance from the Government, a number of euro area financial institutions out of bankruptcy and reorganization in a new life. Now, once troubled financial markets started to stabilize, credit crunch situation eased, but as the instigator of the crisis in the financial industry is still fragile, particularly the face substantial threats of bad debts.

According to the European Central Bank by the end of 2010, the euro area banks assets down scale will reach 6490 billion euros, and the present report the size of assets down to 3650 billion euros only. How to deal with these "toxic" assets in relation to the euro area financial markets next stability.

Currently, most makers headache than financial institutions are unwilling to lend to the real economy sector. While Governments and central banks to the financial system into a large amount of liquidity, but financial institutions because of fear and loss, tightened up to corporate and personal lending conditions, resulting in the real economy sector is still suffering from the credit crunch, which dragged down economic recovery.

Analysts warned that if the economic situation is not promptly changed, some in debt of households and non-financial enterprises will face a more severe challenges, this will result in the loss of the Bank to further expand, increase financial institutions but credit situation and to form a vicious cycle.

Secondly, the euro area has become increasingly severe employment situation will be the economic recovery of the second big risks, and its hazards typically have lagged.

Eurostat published 14 preliminary data show that in the second quarter of this year the euro area employment decline than the then Central 0.5%, equivalent to new unemployed 70.2 million. As of July this year, the euro area unemployment rate has risen to 9.5%, since May 1999.

The European Commission responsible for economic and Monetary Affairs Committee member Joaquin · Almunia in today's news conference that the economic crisis for the effects of the labour market generally lag three quarter, this means that the employment situation in the euro area will continue to deteriorate.

Rising unemployment will suppress personal consumption, making the economic recovery loss of an important "engine". In addition, because consumption declining relative surplus production, coupled with the real economy sector is still suffering from the credit crunch, the enterprise investment may be inhibited. The European Commission acknowledges that not exclude rising unemployment and economic decline in the formation of the vicious circle of possible.

Finally, due to expend in response to the financial and economic crisis, euro area countries the general deterioration of the financial situation, significant increase in the deficit level. If handled inappropriately, will threaten financial stability in the medium and long term, the impact of the euro area's growth potential in the future.

In accordance with the European Commission's view, the euro area economy in the wake of the financial crisis after baptism, is currently turning point, there is every reason to feel optimistic about short-term economic prospects. But despite the signs of recovery are possible at first, but it can last long and I have to wait.

In the first half of the year Japan crude steel output record largest decline

Japan iron and steel Alliance 21, published data show that in the first half of the year Japan crude steel production over the same period last year to reduce 40.7%, invasive 1948 related statistics since the historical maximum.

Data show that in the first half of the year Japan crude steel output 3669.3 million tons, is since 1968 a new low of half-yearly output. This reflects the last fall after the outbreak of the international financial crisis, to automobile industry-steel demand sharply to the steel industry has a significant impact.

In June, Japan crude steel output 688.6 million tons, up by 33.6%, as a continuous decline in the first nine months, but drop to continue to shrink. However, the current month Japan crude steel output of ring than increasing 6.3%, this is the second consecutive month, ring than increasing.

From steel types, 6 month ordinary steel output 568.3 million tons, up by 29.9% sequential decline in the first 9 months; special steel output 120.3 million tons, up 47% reduction is the eighth consecutive monthly decline. Compared with the month of may, two steel production increased 5.3% respectively and 11.3%.

Federal Reserve Chairman Ben Bernanke will remain in Office and no suspense

As the momentum for economic recovery in the United States has become increasingly clear that the US Federal Reserve Chairman Ben Bernanke from January 31, expiry of the time also diminished. In accordance with established practice, the President will usually make it clear at this time, to decide whether to remain in it. For example, in July 1991, President Bush directly to Congress nominations that Greenspan continue to act as a responsible position. In doing so, the most fundamental considerations or by maintaining the continuity of monetary policies to stabilize the market confidence. In particular, is currently in the United States economic recovery of subtle turning to spot replacement coach, for stock market and other financial market stabilization clearly disadvantageous. Despite the recent two months, Obama repeatedly praised Ben Bernanke "in exceptional circumstances is better play the role," but he is not willing to nominate Ben Bernanke remain clear attitude on the question.

For the evaluation of Ben Bernanke, despite his many critics voice. But overall, according to Reuters, the Wall Street Journal recently in several surveys, 70%-80% of financial institution economist will welcome Ben Bernanke to remain, and these people represent the voice of the it market, this cannot be the ultimate choice is not Obama; in addition, including Krugman, Ruby, numerous high cards, also the economists clear support Ben Bernanke. While the evidence is entirely stood aside from Ben Bernanke the Fed over the past 30 years, Paul Volcker, Greenspan · also successfully won a second term.

Fair to say that the failure to foresee subprime mortgage crisis attributed solely to Ben Bernanke is unreasonable. Ben Bernanke's problem is that the crisis in the initial phase, his low-key personality makes himself repeatedly was too strong for former Secretary of Treasury Paulson led by the nose, in many issues, especially if you want to save Lehman Brothers, no time off that attitude. But with Bush and Paulson fade out political stage, Ben Bernanke suddenly burst out of the wise, it can be said that from January 2009 onwards, the Fed is in a truly entered the era of Ben Bernanke.

From a complete economic cycle perspective, as Ben Bernanke the Fed helm also has its own limitations or doubtful. As the authority of the great depression, he helps United States economy out of the crisis may be the obvious choice, but for how to carefully balance economic prosperity and the relationship between inflation expectations, Ben Bernanke and compelling experience, he's inflation targeting just stay on the verbal. At the same time, despite efforts to let the market believe that Ben Bernanke, the Fed's exit strategy is sufficient to guarantee a relaxed monetary policy in the future will not lead to significant inflation, but in 2008, the fed in curbing inflation as demonstrated capacity and not particularly reassuring.

The author believes that Obama is not clear whether support Ben Bernanke remain, reflecting its own interests. If Ben Bernanke for re-election, his second term of Office from 2010-2014 longitudinal cross, 2012 is the next United States presidential election years. This cannot but make people remember a thing of the past: in 1992, the United States economy is in recession, the same old Bush has repeatedly hinted that want the Federal Reserve cut interest rates further in terms of steps in a larger, more frequently, however expect a deaf ear to the Alan Greenspan. Final due to the economic downturn, the elder Bush lost the general election. Many years after he had been taken, "I let Greenspan re-elected, he will not let me for a second term."

Clearly, based on the long-term election political cycle, is the key to Obama indecisive. I believe that, once Obama on tacit understanding from Ben Bernanke have convinced, announced this result but sooner or later.

Four row three quarterly bulletin beauty mixed

Last weekend, JP Morgan, Goldman Sachs, Citigroup, American silver + United States financial services industry giants to release third quarter results, the results will be mixed, the Bank reports have shown that consumers in the credit card and mortgage loan repayment of the credit loss of pressure.

Local time, October 16, the United States Bank announces third quarter results show that the row from the second quarter profit 32.2 billion into third-quarter net loss of $ 1 billion.

United States Bank is the largest commercial banks in the United States. In just the past third quarter, the United States Bank has lent a total of 100 billion u.s. dollars of loans, than the second quarter increased to $ 1 billion, while United States Bank also added 21 billion reserve to address the problem of bad debts. However, since customer defaulting loans still widespread, their credit losses were as high as $ 117 billion.

Credit business detractors

From Goldman Sachs and JP Morgan's fiscal report, the two banks of the profit model similar to fixed-income sectors and investment banking sector is still the largest revenue sources. Goldman's third-quarter results show, fixed income, currencies and commodities sector best, net profit of $ 59.9; securities business, net profit of $ 27.8. Similarly, Morgan's third quarter net profit of investment banking, transaction billion profit upgrade fixed income markets revenues to $ 5 billion.

"This growth model is expected to remain in the future to maintain at least a year, as the market for global economic recovery is expected to strengthen, as well as the growing rise in global stock markets, leading to other economic spheres of financial transaction will rise first. While and real economy more closely related to the credit business growth is relatively slow, at the same time as the unemployment rate lag, even during the economic recovery, high unemployment is difficult in a short time to be improved, whether it be credit or personal loan, will be the last couple of years the Bank's losses. "Shanghai University of finance and Deputy Director of the modern financial research center. XI Jun sheep

"The United States consumer credit is still affect us the number one problem in the near future performance. "Citigroup Chief Executive Officer (CEO) Pan di said. As of September, national city has the credit losses of $ 8 billion, mainly from the consumer business. United States Bank CEO Ken Lewis was equally nice · said: "obviously, the cost of credit is still located in high positions, and this remains our main financial challenges. ”

Morgan third-quarter rise in credit card credit card skimming is only 1% in the second quarter increased by 25% has dropped significantly. But Morgan CEO Jamie Dimon expects consumers · loan and credit card loans and other credit cost in the coming period will be maintained at a high level. And along with the deterioration of employment issues, traditional mortgage loans, and credit card loan default rate will continue to rise.

Investment banking-gap

While JP Morgan, Goldman Sachs and American silver, Citigroup faces the same challenges, and Citibank and the IDB has also been in the second quarter and achieved good results, but with the third quarter of the fiscal report, these gaps in between banks gradually expanded.

According to Goldman Sachs Group results show that third-quarter net profit of $ 31.9, their second-quarter net profit of us $ 34.4 equaled. The previous day, Morgan announced third-quarter profit of $ 36. And Citigroup's results show that the Group during the third quarter of this year compared with the same period last year achieved a profit, but only profit 1.01 billion, compared to second quarter earnings far 42.8 billion.

"In fact, from the first quarter of this year, Wall Street banks ' performance is gradually revealed differences, and this difference is still widening. "A foreign rows one industry analyst said.

"From the fourth quarter of this year in the first half of next year, the threat of Wall Street banks of Max factor is the credit loss situation, if the deterioration of the credit business, will undoubtedly greater offset investment banking revenues brought about by. "The industry analysts noted that" at present, the investment banking is Wall Street banks the most important earnings sources, Goldman Sachs, JP Morgan, etc in the investment banking than Citigroup, American silver more advantages. At the same time, it is foreseeable that in the coming period, no significant improvement in the credit business, investment banking revenues will undoubtedly great JP Morgan, Goldman Sachs and American silver, Citigroup. ”

Overall performance is still optimistic

Goldman Sachs CEO Lloyd Blankfein · said: "while the world still face serious economic challenges, but we see that the situation is improving, and a stabilised or even signs of growth. "Citigroup CEO Pan di, points out:" our customer deposits in the third quarter increased $ 28 billion, investment banking and global trading business net income are set to high. ”

XI Jun sheep pointed out: "overall, the United States Wall Street all major banks in the performance of this year compared to last year, there will be significantly enhanced. Although the United States banking industry still faces serious credit losses, but overall, the overall performance of the major banks and macro-economic related, and the United States economic recovery although may slow, but is unlikely to occur again. Therefore in the General environment gradually improved, no doubt will further improve the banking sector. ”

France's economic recovery has taken 10 positive signs

France Figaro reported on 11 August, France's economic recovery has taken 10 positive signs, 1) entrepreneurial confidence has improved somewhat, 2) discontinued production of iron and steel blast furnace to ignition, 3) listing large enterprises benefit is better than expected, and 4) increased by large supermarket sales, France's CAC40 5), 6) auto industry production began to rebound, 7) in the air transport of passengers, loading in the stabilization of food package 8) bounces, 9) advertising investment growth again, 10) internationally, various economic indicators are showing signs of improvement.

«Ò» ¡ ¢ may and June this year France's industrial production growth for two consecutive months, this is an encouraging signal, portend France industry may see the light at the end of the tunnel, France since implemented out old car purchase environmentally-friendly new car incentives measures 1000 euros, France automobile production in June 5.3%, an increase of 5 month 12.2%. Q2 this year France France automobile exports increased 4.8%.

In June of this year France's dominance in the field of industrial, pharmaceutical, aerospace, shipbuilding and the production of high speed railway areas still render better momentum. And economic cycle closely linked sectors such as packaging, air transport, major retail supermarket, advertising industry, has shown a positive sign.

Q2 this year France's production growth by 0.2%, household consumption increased 0.7% Q2 data shows France's economic situation than expected just a little bit better. The French Bank predicts Q3 this year France economy begins to stabilize.

Second, symbolic, 5 August Mittal Steel Group ansai LOMA is located in France in a blast furnace in Lorraine since the beginning of the discontinued after ignition production, 600 portion of unemployed workers resume work, and blast furnace production was again ignition brought other sector production: coking plant, rolling mill, etc. The blast furnace to ignition portend ansai Laurent Mittal Steel Group's production began to recover, since the end of 2008, due to the global steel demand sags, Mittal Steel Group ansai Laurent production cut by half. Ansai Laurent Mittal Steel Group in the second half of this year is expected to yield higher than the first half of this year.

Third, France 26 in stock CAC40 companies have announced their first half performance, 14 companies in the first half performance beyond the expected. BNP Paribas and Société Générale Bank this year performance significantly better than expected, the other big companies such as Axa Insurance Company, Electricite de France, Sanofi Ann million references to pharmaceutical companies, company, France Telecom Airliquide, PPR Group first half performance, Danone Group, the performance of the LVMH group show that better withstand the crisis.

4. the ghost of deflation seems to be a large supermarket sales rise the dispersed, in February this year France many large supermarkets of agro-food products wholesalers concerned decline. In fact the first 6 months, a large supermarket sales in France increased by 2%, 6 months sales even rose by 3%. Supermarket sales growth attributable to lower prices in the first half of this year, consumer prices increased by only France 0.5%, whereas the same period last year increased by 2.5%.

Fifth, since mid-July, the world's major stock markets increased by 10%-20%, France's CAC40 on August 7, 3500 points again climbed to 3521.14 points back to 2008 October-November, 2009 years March 6 CAC40 France stock market once fell to 2534.45 points.

For the sustainability of the stock rises, analysts opinions on this, but the General view from now until the end of the stock market volatility remained high.

6. France is expected in the second half of this year two major automobile manufacturers Renault and PSA Peugeot Citroen company's production will be better than the first half of this year, out of an old car buying new car incentives to pull the car production is quite effective, Reynolds company orders received in the second half of this year was higher than the same period in 2007, Reynolds company considers orders in 2009, the European car market decrease at 8%, instead of January this year is expected decline of 15%. PSA Peugeot Citroen company car sales fall by 20%, reduced to 12%.

July France new car sales increased 3.3% since the beginning of this year, France new car sales even rose by 0.6%.

7. the air transport industry in the first half of this year had serious down situation, July while Air France's turnover decreased compared with the same period last year, but the decline slowed, Air France passengers transportation in July decreased by 3.3%, April-June fell by 5.8%, British Airways dropped 1.2%. Analysts on Air France passengers attendance improvement is pleased that Air France passengers attendance in July reached 85.1%, British Airways passengers attendance reached 84.6%, airline revenue decline has slowed down. International air transport association will be published 27 August 7 month global air transport industry, for the moment, optimism. But in 2009 the air transport industry is also faced with two dangerous, crude oil prices, the spread of influenza.

8. food industry currently is the most dynamic industries, packaging requirements can be detected. France packing industry association President StéphareTeicher believes that the packaging industry is the rendering of the recovery of one of the few industries, 6 month used to human food packaging carton delivery quantity compared to the same period last year increased by 14%, for the bodies of storing food packaging carton delivery quantity increased by 1.1%. But chemical and building materials product packaging production no recovery in the month of June 2009 for building materials product packaging cartons deliveries dropped by 5.5%. All trades are considered together, the consumer packaging cartons still declining, in June this year has decreased by 14%, in January fell by 17%.

9. in July 2009 France advertising market showed the first signs of recovery, advertising investment in various media (overseas advertising) an upward trend, advertising investment of weak growth confirms June Media Group executives

' Speculation that they predict advertising they regain confidence.

In General, France media advertising investment increased 16.4%. Digital TV media advertising volume grew by 22% year-over-year increase, advertising investment by 47.8% as attracting advertising's first big media, France television advertising investment increased 5.3%.

10. the world's major economies, economic indicators showed signs of improvement, United States purchasing manager ISM index reached the highest point in the past year, the United States, the unemployment rate decreased only weak 9.4% United Kingdom real estate prices in February 2009 on the basis of the lowest point had risen by 4.5%. Germany's exports grew by 7% ... ..., the last three months the world's economic statistics have improved. France hope to use these transfer to revitalize its exports, Q2 this year France's exports began to stabilize.

Asian economies is most evident signs of recovery in the second quarter of this year, Korea's GDP grew by around than 2.4%, good for Korea Government expected 1.7% increase in GDP of China was 7.9%.

How to see U.S. export promotion strategy.

<P> Barack Obama in the recently published State of the Union announced that it will make in the next 5 years to double U.S. exports. .As the specific actions to implement this goal, the U.S. Department of Commerce recently released the "National initiative to export" strategy, said it would expand from the strengthening of trade to facilitate trade finance and the strengthening of the three aspects of trade rules to help U.S. companies explore overseas markets. .</ P> <P> "exit cabinet" and "three-pronged approach" </ P> <P> This is the first time the U.S. government covered almost all government departments to develop export promotion strategies. .According to this strategy, the U.S. government will set up a "promotion of exports cabinet", the agency will be the State Council, Ministry of Finance, Commerce, Agriculture, Trade Office, Small Business Department and the Export-Import Bank and other government departments composed of senior officials. ."Cabinet" under the each department to submit within six months how to promote U.S. exports Obama's specific plans, comprehensive plans will be finished as a "national initiative to export" strategy released. .</ P> <P> initial policy as currently drafted, including three aspects. .First, the Government to provide overseas market information for enterprises, and many other services; Second, the Government will make it easier for enterprises to obtain export financing; again, through the strengthening of trade rules to remove trade barriers in overseas markets. .</ P> <P> as specific policies, the U.S. Department of Commerce's International Trade Department will be funded in fiscal year 2011 increased by 20%, additional funding will employ 328 trade experts, many of which will be sent to China, India and Brazil .and other major emerging economies. .U.S. Export-Import Bank will substantially increase next year's export credit lines to SMEs, from this year's 40 billion U.S. dollars to 6.0 billion. .</ P> <P> implied depreciation of the dollar trends </ P> <P> estimated according to the Obama administration, if the export could double by the next 5 years, the expected increase of 2 million U.S. jobs, effective .ease America's current high unemployment rate. .And because there is a huge U.S. trade deficit, export expansion will also help the U.S. achieve trade balance. .</ P> <P> the main thing is that in the past few decades, the U.S. economy highly dependent on domestic demand, the engine, but now rising unemployment, weak domestic demand, so as soon as possible out of the woods to the U.S. economy, expanding exports will be an important .link. .Over the past two quarters, the U.S. economy was the result of growth, export surge is an important reason. .</ P> <P> "export-driven" in terms of both short and long term will benefit the U.S. economy, but in the background of the current world economic crisis, the United States in what way the export drive, it will put what the world economy .effects of concern. .</ P> <P> concern for many countries, the United States to implement the "export drive", a large depreciation of the dollar may be the magic. .Although the U.S. Commerce Secretary Gary Locke repeatedly emphasized, the United States to promote the exports will not protectionism, will not restrict imports, there is no secret plan to depreciation of the dollar. .However, from past experience, the fastest period doubling U.S. exports is 7 years, was in the 80s of last century. .Double exports to the United States there are two factors, one the world's economic prosperity, and second, the weak dollar. .From the past year, the U.S. has been able to continue to grow exports, to a large extent the dollar driven. .</ P> <P> China has become the main direction </ P> <P> In addition, the United States to strengthen trade rules, the so-called, of which, not without suspicion of trade protectionism. .Of particular note is that the U.S. largely directed at China. .</ P> <P> Obama recently in a conversation with Senate Democrats, said the future is essential to promote exports to the United States, China will be one of the major overseas markets in the United States. .He declared that it would strengthen trade rules, to ensure that the so-called US-China trade relations and so on. .</ P> <P> from the current U.S. policy perspective, on the one hand, the United States will continue to ask China to lower the threshold of market access for U.S. products, in order to promote exports to China and from China's rapid economic development to benefit; the other ., the United States through the anti-dumping, countervailing and safeguard measures and a series of means, "Made in China" setting trade protection barriers. .With this approach is that some American politicians and scholars continue to advocate the recent appreciation of the renminbi. .</ P> <P> the U.S. government in the implementation of the "export-driven" strategy, adopted a series of controversial measures, there is clearly "beggar thy neighbor" and even "troubles outside primer" is suspected, it is likely to intensify international trade friction, and even the .the world economy is facing a new crisis. .</ P>.

World Bank report: a quarter of the world's new trade remedy cases down 20% year on year.

<P> 25, the World Bank released a report, first quarter of 2010, the world, including the newly launched anti-dumping, countervailing and safeguard the temporary import restrictions, etc., trade remedy cases fell 20%. .</ P> <P> day, according to the World Bank's monitoring of global trade protection measures "temporary trade barriers database" report, the fourth quarter of 2009, global trade remedy cases down the rates are about 20%. .First quarter of 2010, the World Trade Organization has 13 members of the launch of new trade remedy investigations, in which members of the development of new investigations initiated by 74%, the rest is initiated by developed members. .China's exporters continue to investigate the case of trade remedy number one goal, a total of about 47% of new investigations against China. .</ P> <P> report, launched in previous quarters this year, the case of the first quarter of the survey, only 60.9% of the cases, the final implementation of the new trade remedy measures. .First quarter of 2010, 7 economies to complete the investigation, but did not set up new trade barriers. .</ P> <P> report shows that the financial crisis and the onset of economic recession, trade protectionism, trade remedy cases a significant increase in the third quarter of 2009 reached a peak. .As the economy recovers, the fourth quarter of last year, the number of cases of trade protection began to fall. .</ P>.

Global markets: Global stock markets "China Day" Zhangshengyipian.

<P> 14 days, the international rating Moody's giant sovereign debt rating will be a fall of Greece, 4 levels to junk status, the U.S. ten-economic data brought to the market confidence. .14 to 16, A shares closed during the Dragon Boat Festival, all the global stock market rally, Morgan Stanley Capital International World index has gained more than 2.5%, which is the Asia-Pacific index rose more than 2.8%. .</ P> <P> 14 to 16 days, Japan's Nikkei index rose 1.81%, marking the highest close in a month. .Seoul stock market rose 0.91%. .Singapore, India and Australia, and other major indexes gains were between 0.29 to 1.21 percent range. .</ P> <P> pan-European blue-chip index index 14 and 15 in the two-day cumulative increase of more than 1.8%. .16 morning, the United Kingdom, Germany and France were the three major stock indexes rose 0.2%. .</ P> <P> three major U.S. stock indexes 14 and 15, and both the cumulative increase of more than 2%. .15, S & P 500 closed rose 2.35%, rose to close in the top end of last year; the Dow rose 2.10% to 10,404.77 points, its highest since May 19 closing level. .Nasdaq rose 2.76%. .</ P>.

India to raise interest rates unexpectedly faced with a choice of emerging economies.

<P> Suddenly announced on Friday, India's central bank to raise interest rates as emerging economies, and an exit stimulus policies. .Market analysts generally believe that the adjustment of monetary policy in India in the short term are likely to have their own and other emerging economies, stock market impact. .</ P> <P> inflationary pressures appeared earlier </ P> <P> The Indian central bank repo rate, respectively, and the reverse repurchase rate by 0.25 percentage point to 5% and 3.5%. .As this is the conventional monetary policy in India before the meeting suddenly announced the decision to raise interest rates and let the market by surprise. .India's central bank said that pre-announced rate hike will help to control inflation expectations and inflation increased further. .</ P> <P> many analysts believe that India is forced to raise interest rates domestic inflation, India's policy at the end of the 1 meeting that India's macroeconomic situation has undergone great changes, industrial production, import, export and domestic .GDP data showed the Indian economy is gradually recovering, while inflation is a major worry. .Indian officials recently released data show that the wholesale price index in India in February to a 9.89% increase year on year, the market expects the index will reach double-digit increase in the near future. .Moreover, while food prices have come down in India, but still high, the consumer price index is rising, the recent industrial products and fuel prices are rising. .</ P> <P> but the accident rate hikes may also drag on the Indian stock market. .India's economic stimulus plan by the impact of withdrawal yesterday, Mumbai, India sensex30 index fell 167.66 points, or 0.95%. .The emerging markets in Asia have also been dragged down, Korea Composite Index fell 13.44 points, Singapore's Straits Times Index fell 26.52 points, Indonesia's Jakarta Composite index fell 40.57 points, or 1.48% to Malaysia, Thailand, the Philippines, the stock market also fell. .In addition, the U.S. and European markets also tumbled, the Dow Jones index fell 37 points, London's FTSE index fell 48 points, down to the deadline He was in exploration. ."Interest rate that India faces a very serious problem of inflation, investors will certainly be cleared away some of the stock position" SMC Capital, analysts said. .</ P> <P> out of the way in emerging economies hard </ P> <P> after India's central bank hiked interest rates, the market worried about after India and other emerging economies will follow the hike. .</ P> <P> Central University of Finance and the Bank of China Research Center, Guo Tian Yong, when interviewed yesterday, that although China and India are both emerging countries, but the situation is not the same. .Although many central banks worldwide have begun to raise interest rates, and adopted by countries after the financial crisis special stimulus is certainly out of the final potential. .</ P> <P> Deputy Minister of Finance Wang Jun said earlier that the stimulus should not lightly quit now, but should actively exit strategy to study the issue. .The withdrawal of stimulus has its own laws, exit is more difficult than the decision was to stimulate some. .This is due to exit policy determined by the laws of their own. .</ P> <P> "India's withdrawal of some reference value, but the final decision on whether to raise interest rates in China is mainly to domestic factors, such as inflation and trade, the extent of recovery." Tian Guo Yong said that considering the current .trading conditions and pressure on the dollar, raising interest rates is still not better. ."And other economy has fully recovered, and future inflation is expected to translate into real inflation before we talk about interest rates too late." </ P> <P> Although people on asset prices and food price increases have concerns, but overall it seems .Asia's inflation situation is relatively moderate. .</ P> <P> Li Si scoundrel, chief economist at Standard Chartered Bank believes that the unstable situation in the world economy, the domestic environment for complex, monetary policy had to change in a progressive manner. .In Asia, the focus in China on the exchange rate. .The Chinese government seems to want to see significant appreciation of the renminbi, intends to continue to intervene in the currency market. .But in the end must make a choice, appreciation of the RMB will also appear. .Once China began operations in other Asian countries or regions will hear of the sky. .</ P> <P> reporter observed </ P> <P> countries have a balance of mind </ P> <P> Asia is recovering, but the pace of recovery will not only be the situation in Asia, but also prospects for development by the West .greatly influenced. .</ P> <P> present, China's central bank is to do is put the system to recover some of last year's liquidity, the normalization of the implementation of policies that do not interfere with the recovery in the case, with the best way to make monetary conditions quickly return to normal. .However, this is not an easy proposition. .Because it is different from monetary tightening, which could push policy rates. .</ P> <P> in Western economies is still at the internal and external debt crisis hanging for the emerging countries, although trade growth, but its recovery is extremely slow. .Recently, Minister of Commerce Chen Deming said in his speech, in March this year China's trade deficit may appear. .Foreign trade growth is not stable, and inflation expectations have intensified, the dual pressures of the attack, emerging countries are faced with a difficult monetary policy decisions: interest rates will stifle the recovery in foreign trade, while rising inflation is not a wise move either. .What should the balance tilted to the side, as Guo Tian Yong said, depends on each country's own situation. .</ P>.

What priority to reducing the fiscal deficit to save the economy? United States and Europe competed to set the tone for the G20.

<P> Group of Twenty (G20) summit will be held on the weekend, will be competing before the United States and Europe set the tone for the theme of the meeting, U.S. Treasury Secretary Timothy Geithner and White House economic adviser Lawrence Summers joint article published yesterday, advocating economic recovery .priority should be given to reducing the fiscal deficit, but Britain, Germany, France and other countries insist on promoting the deficit reduction plan, the two wrestling camps increasingly intense. .Sa cover two also appealed to Asian countries, especially China, "by strengthening domestic demand and greater exchange rate flexibility to help consolidate the global recovery." .</ P> <P> Geithner and Summers in the "Wall Street Journal," the author means: "We have to show commitment to reduce long-term deficit, but not the expense of short-term growth. If that moment did not increase the deficit will rise further weaken .capacity for future growth. "analysis refers to the statement is clearly against the European policy. .</ P> <P> the U.S. mid-term elections will be held this year in the risk of a double-dip recession, the White House repeatedly urged other countries not to hit Europe and the consumer, but most European countries turned a deaf ear, the United Kingdom announced the day before the most recent heavy-handed 30-year austerity plan .cut public spending billions of dollars and raising taxes. .</ P> <P> disclosure of German Chancellor Angela Merkel on Monday with President Obama directed at the non-telephone, reiterating the importance of fiscal consolidation. .She savings measures announced earlier next year, savings of 800 to 2014 million euros, she considered that the scheme "will not slow down the global economy." .</ P> <P> Canada and Europe, the same front </ P> <P> France announced early in the next 3 years public expenditure cuts 100 billion euros, Finance Minister Christine Lagarde declared the day before yesterday to promote cutting programs, but also suggested other measures .to come. .G20 summit host country also been sent to Prime Minister Stephen Harper of Canada urged G20 leaders to formulate a goal of deficit reduction. .</ P> <P> Geithner and Summers also urged the balance of the global economy. ."We must ensure that global growth is strong and balanced before the crisis, the United States is the world's major source of demand growth, from now on, must be multi-column support global demand." They also welcomed the increased exchange rate flexibility in China's recent decision and look forward to the implementation of the Chinese firm .. .</ P> <P> called on the EU reached a consensus exit </ P> <P> the largest ever U.S. Gulf oil spill disaster occurs, Geithner called for G20 two-phased oil subsidies. .Obama will meet British Prime Minister David Cameron during the summit, is the oil spill caused tension between the United States and Britain since the first meeting. .They call the day before yesterday, agreed that G20 must balance fiscal consolidation and growth strategy to maintain global recovery. .</ P> <P> G20 leaders of the European Union sent a letter yesterday also called on participating countries to reach a consensus on the timing of exit in order to restore confidence in the global economy. .EU and to promote global financial transactions tax, as the cost of future bank bailouts. .</ P>.

Krugman: the great depression for the third time brewing or have millions of unemployed

The financial tsunami, the United States economy is not out of the trough? Europe loan crisis will not be dragged down the global economy at the end of the second exploration? what is in the global economy where this series of questions that have always been economists and leaders talking about the focus topic.

The Nobel economics laureate, the New York Times columnist Paul Krugman-(PAULKRUGMAN) you upholding its pessimistic point. On June 27, published column, Krugman expressed for some countries too soon expand fiscal austerity policy concerns, says policy-making may trigger economic history of the third meeting of the great depression, and noted that the millions of unemployed people will pay for policy-making.

In the third time in the early days of the great depression

Referred to the great depression, one might immediately think of film master Chaplin's representatives — "modern times". "Modern times" to the end of the 1920s the world economic depression made a profound depiction, impressive.

Economic recession is widespread, but the great depression was very rare. Economic history only twice the recession was widely described as the "great depression". The first is the 1873 after the economic panic into deflation, and market instability period; the second was in 1929 to 1931 financial crisis a large number of unemployed persons to employment in difficult times.

Krugman points out, whether it's 19th-century long recession or depression of the twentieth century, they have not occurred in times of economic recession. On the contrary, that contains a cyclical economic growth, but the economic improvement is not sufficient to cover the initial damage economic recession, "but currently, I am very worried that we are in the third stage of the great depression. Today, it's closer to the 19th century experience long-term depression period, although the situation is not like the great depression in the 20th century as severe, but the cost of the great depression, the global economy, especially for the millions of people affected by unemployment problems, remains huge. ”

Decision-making errors lead to depression

The Krugman seems to be that the third great depression is caused by wrong policy decisions. World Governments now expressed concern about the excessive inflation, and in fact, the real threat is from deflation; leaders in promoting the need for tightening the expenses, but the real problem we face is the lack of expenditure. "This all weekend so deeply disappointed by the Group of 20 Summit were vivid manifestation. ”

Since the financial crisis erupted, Krugman has been advocating for Governments in the implementation of large-scale economic stimulus plan to help the global economy from total collapse. In fact, at the end of 2008, 2009 and even this year, Governments have implemented a series of scale amazing economic stimulus package.

"And predecessors in the face of financial crisis increases interest rates, the fed and the ECB in this crisis period are lowered interest rates on a large scale and positive measures to support the credit markets, and the Government in the face of economic downturn when trying to balance the budget, the Government choose wisely a deficit level rising. allowed It can be said that the financial crisis-induced recession has ended last summer. "Krugman points out.

However, in Europe and the United States unemployment, particularly long-term unemployment remains high, and there is no indication that the rate of unemployment in the short term to decrease rapidly. While at the same time, the United States and Europe seems to be moving toward Japanese deflation dilemma. Faced with the harsh situation, one may expect policy makers aware of them in promoting recovery done enough. But the fact is that, on the contrary, for the past several months, many countries are increasingly concerned about the policy makers of fiscal austerity plan and tend to follow the traditional concept of a balanced budget.

Krugman said that States if the early implementation of fiscal austerity plan and exit the stimulus, then buried for this policy is the only one of the millions of unemployed people, many of them may have to last for a few years in unemployment status and even some people never go back to work.

BOJ to further ease monetary policy or.

<P> Bank of Japan announced on April 12 monetary policy meeting in March revealed that many policy-makers that, in the case of deflation gradually ease further relaxation of monetary policy will be effective. .Analysts believe that within the next few months the Bank of Japan may continue to ease monetary policy. .</ P> <P> March meeting of the Bank of Japan decided to maintain the existing low level of 0.1% interest rate unchanged, the bank also decided to provide emergency loans to financial institutions to double the amount of scale. .Minutes also show that majority of the members are more optimistic about the economic outlook, saying the first half of this year, the risk of a sharp slowdown Japan's economy has subsided. .Some members also felt that if the economy can maintain rapid growth, domestic demand is likely to continue to rebound. .Number of members meeting in March, said the emergency financial institutions to loan size, will strengthen the economic and price situation improved. .</ P> <P> But the minutes also showed that the central bank to be members of men and wild Tianzhong vector sub-fields that the U.S. economic recovery is not for the further relaxation of monetary policy reasons. .Ye Tian Zhong M, said the economic outlook in a way beyond expectations, price trends and forecast the Bank of Japan in January of the same, and the financial market volatility is not unexpected, in this case is not suitable for further easing of monetary policy. .</ P> <P> analysts pointed out that with the economic recovery, increased demand for funds will eventually recover, but will continue in the case of deflation, the Bank of Japan will continue to face various requirements of the further relaxation of monetary policy pressure. .</ P>.

Group of Seven merchandise trade growth slowed.

<P> The Paris-based Organization for Economic Cooperation and Development (OECD) report released 21 May, the Group of Seven in the first quarter, merchandise trade continues to grow, but the fourth quarter of last year, an increase of some .slowed. .</ P> <P> the first quarter, the United States, Canada, Japan, Germany, France, Britain, Italy and other seven countries and exports both total merchandise imports increased 3.2% qoq, while the fourth quarter of last year, the goods .import and export volume growth rate were 3.7% and 4.7%. .In addition, the latest OECD data show that the Group of Seven in April and May of this year's merchandise trade is still lower than pre-crisis level of 20%. .</ P> <P> Group of Seven, the first quarter, with Germany and Japan were 4.3% and exports increased 6.5%, and 5.7% and 3.7% increase in imports of foreign trade leads .growth. .Several other countries merchandise trade increased slightly, the United States, Canada and the United Kingdom's exports are less than 2% increase in import growth also appears to slow down. .</ P>.

BP will sell assets worth 12 billion.

<P Align=center> </ P> <P> </ P> <P align=center> French oil giant Total, the company's CEO said it would consider the acquisition of BP-related assets </ P> <P> EDT July .11 (Beijing time on July 12), according to U.S. media reports, British Petroleum (BP) is working with the U.S. Apache (ApacheCorp.) to discuss the sale of assets of a 12 billion plan to raise funds to deal with the Gulf of leakage .brought about by oil price compensation. .</ P> <P> U.S. Apache Oil Company is headquartered in Houston, is the largest of a U.S. listed oil company. .According to two insiders said, oil companies BP and Apache start negotiations in a few weeks ago, involving a transaction value less than 120 billion U.S. dollars, including the BP-owned oil fields in Alaska. .</ P> <P> early as 2003, Apache Oil Company had 1.3 billion dollars to buy British Petroleum's assets in the Gulf of Mexico and the North Sea. .Today June, Apache Corporation has just completed another 1.05 billion U.S. dollars worth of energy assets acquired. .Apache has always been analysts to become "smart buyers" because of the acquisition the company will usually bring many years of sustained profit growth. .</ P> <P> British Petroleum and Apache Corporation declined to comment on the matter. .</ P> <P> because of the adverse impact of the Gulf oil spill, BP is facing a huge compensation for risk. .BP has said that to deal with the cost of the Gulf of Mexico oil spill has reached 3.12 billion U.S. dollars, before the company has agreed to set up the administration requested $ 20,000,000,000 Compensation Fund. .Nevertheless, the recent U.S. Senate Environmental and Public Works Committee by a vote, agreed to lift BP's oil spill compensation limit of $ 75,000,000. .This means that the oil spill will allow BP to pay tens of billions of dollars in price. .</ P> <P> British Petroleum has announced that the next 12 months will be financed through the sale of 10 billion U.S. dollars of assets, which assets are also attracted considerable interest in peers. .French oil giant Total, the company's CEO said it would consider the acquisition of related assets. .In addition to oil fields outside of Alaska, BP also plans to sell its own in Colombia, Venezuela and Viet Nam's oil and gas fields, and even a 60% stake in its second-largest oil company in Argentina - Pan American Energy (PanAmericanEnergyLLC). .(Jiao Yu sent from Los Angeles) </ P>.

British Petroleum out of the U.S. deadline for new ways to prevent oil spills.

<P> 12, said U.S. Coast Guard, the latest survey results show that the Gulf of Mexico oil spill is much higher than previously expected, the U.S. has ordered BP to come up within 48 hours, new approaches, increased action to prevent oil spills .efforts. .</ P> <P> according to a letter released by the Coast Guard is responsible for oil spill site coordination of the Coast Guard Rear Admiral James Watson, 11, notified British Petroleum, now he thinks the British oil companies to prevent oil spills .plan does not mobilize all necessary resources are not ready to reserve enough resources to guard against equipment failure and other unforeseen circumstances. .</ P> <P> Watson orders within 48 hours of BP can be immediately put out a new implementation plan, with more resources to prevent crude oil continued to leak. .</ P> <P> 10, according to U.S. experts, the latest survey results published in the June 3 BP implementation of the "Cutting cap" works, estimated daily 20000-4 barrels (1 barrel about .159 liters) of crude oil leaked into the Gulf of Mexico, much higher than previously estimated from 12,000 to 1.9 million barrels a day. .Watson said that BP now taken measures to prevent oil spills is expected based on previous latest survey results show, the British oil companies need to take additional measures to prevent oil leakage. .</ P>.

Global monetary system the Chinese currency was hanging by a thread "kidnapping"?.

<P> Yesterday, the media broke the news that the Chinese central bank has informed the workers and peasants in the construction of four state-owned commercial banks, and investment, people's livelihood and the two joint-stock commercial banks, will increase the 6 bank deposit reserve ratio, were increased by 50 .basis points, the central bank is expected to move to withdraw 280 billion to 300 billion yuan. .</ P> <P> However, this news did not impact on the stock market. .Yesterday, the Shanghai Composite Index closed at 2806.94 points, or 2.49%. .The Shenzhen Component Index closed at 12,237.7 points, up 326.28 points, or 2.74%. .Bank stocks as a whole showed compensatory growth trend. .</ P> <P> Although experts predict that China's move is only for new loans shot up in September, the central focus on maturity and the August vote, in September's increase in foreign exchange, etc. and the introduction of temporary .measures. .However, in Europe and other countries have to further relax monetary policy in preheated under the situation, including China, emerging economies, they are nothing but the opposite to be adopted monetary policy, shot to curb liquidity. .Traditional power, and emerging economies, monetary policy has been difficult to heal the split occurred. .Shanghai Academy of Social Sciences Research Center, deputy director of the Pan Zhengyan Financial believes that the United States, Japan, Europe and other countries compete to devalue their currencies to make the world trade dispute further. .</ P> <P> Western countries "loose in the end" </ P> <P> the Fed will further implementation of the quantitative easing? .This issue has become a market nerves taut string. .September, the U.S. non-farm employment by 9.5 million, this "bad news" quantitative easing measures for the implementation of market expectations, it is like injecting a stimulant. ."Currently, the Fed further implementation of the quantitative easing policy has been more obvious tendency." Panzheng Yan told "International Finance" press interview. .Meanwhile, vice president of Sun Lijian of Economics, Fudan University is that: "further quantitative easing measures, released not far off." </ P> <P> Once the Federal Reserve to implement measures to further quantitative easing, the dollar's depreciation will no doubt " .irresistible force. " .Although Japan had announced the implementation of the zero interest rate policy, and the creation of funds of 35 trillion yen in the scale of co-guarantee funds to buy government bonds, corporate bonds and other financial assets, to create a more relaxed financial environment, with the government to stop the yen appreciation, .out of deflation and stimulate economic recovery. .However, they still can not stop the yen against the dollar hit a 15-year high. .</ P> <P> "fails to yield satisfactory improvement in the economic situation, Japan and the United States have chosen to start the printing press to speed up the way, trying to stimulate the economy." Sun Lijian further pointed out that "competitive devaluation of the yen and U.S. dollar trend ., which may lead to the introduction of the euro zone and UK central bank also further quantitative easing measures, resulting in devaluation of national currencies in the region or to increase export competitiveness. Once these major devaluation of the world's major currencies into the contest, the global monetary system will collapse. "</ P .> <P> Chinese currency has been "kidnapped"? </ P> <P> For China, the U.S. dollar, yen and other major countries, the continuous depreciation of the currency, the yuan appreciate further insisted on not devalue or hurt the majority will no doubt be .export enterprises. ."At present, RMB appreciation pressure is quite large, but in any case, the RMB can appreciate. In the yen, the dollar continued depreciation of the circumstances, began to flow out of Japan and the United States have, once the RMB appreciation, influx of hot money, China is facing .will be the real economy and financial markets, the double shock. "Sun Lijian said. .</ P> <P> the same time, Japan's rate cut and the United States to further the implementation of quantitative easing measures may not only lead to the influx of hot money in China is facing increased risk of further monetary policy led China to be tied. .</ P> <P> Despite September's CPI data has not yet released, but the market has long been forecast to warm up. ."The CPI data is expected in September and August will be similar, but short-term CPI is unlikely the phenomenon of rapid decline in the next 3-5 months, CPI will remain above 3% level." Pan .Masahiko bluntly, "China faces inflation pressure is very great." </ P> <P> Sun Lijian explained: "The continued depreciation of the dollar and other currencies, resulting in global liquidity on the money market began to lose confidence in favor of investment in gold, commodities, etc. .areas, global resource prices will undoubtedly be pushed higher. Therefore, China faces pressure of imported inflation will increase. "</ P> <P> However, despite this, countries have to play in the current environment of exchange rates under license, .China has no room for monetary policy contraction. ."Although some time ago, the market hopes the central bank to raise deposit rates, however, from the current situation, this possibility has disappeared." Panzheng Yan pointed out that "At present, the problem of hot money inflows into China has been very severe, and recent domestic real estate .The introduction of regulation and the second is not, not without, as one. Once the deposit interest rates, will dramatically increase the risk of hot money. "</ P> <P> Shanghai Normal University Financial Engineering Research Center, Sun Maohui In an interview," International Finance News ."interview, then said:" In Western countries, generally in the case of low interest rates, China's central bank raised interest rates can not be used the way. While the central bank raised its six major banks in the deposit reserve ratio, but this contraction of market liquidity for .of the role is not big, but once again raised the deposit reserve ratio has been very limited space. "</ P>.