International Exchange imminent war "weak dollar" the Yuhe for?.

<P> Federal Reserve (FED) to pursue the "weak dollar" policy is the aggressive trend sweeping the global currency. .Euro, Canadian dollar, yen, yuan ... ... around the world over the past few months the dollar currency appreciation pressures are increasing their domestic monetary policy-makers dilemma. .The face of soaring yen forced Japanese government intervention in currency markets is just one of them. .</ P> <P> international exchange rate war seems imminent. .September 27, Brazilian Finance Minister 吉多曼特加 (GuidoMantega) publicly claimed that the world is in an "international currency war", the "advanced economies are seeking to drive the currency devaluation." .Mantega the criticism directed at the United States, Europe and Japan government. .</ P> <P> In fact, concerns about Brazil's finance minister in most countries are becoming concerned that the increasing number of countries, through intervention in currency markets, the devaluation of the currency as a means to boost their economies, at the expense of the interests of cost ., would lead to greater international exchange rates and trade war war? .The exports of countries to protect their currencies to maintain currency stability, and also had to inject more money at the cost of such "beggar thy neighbor" policy, the domestic money supply will have to face more serious flooding and the risk of inflation. .</ P> <P> 9 27, StephenKing chief global economist at HSBC, the latest research report, the U.S. voice of RMB appreciation pressure rising again, "board of trade imbalance defects hit on exchange rate policies of other countries, is .Americans are the usual means. " .</ P> <P> Journal of Financial Economics Ding Zhijie, Dean also told this newspaper that the Obama administration, "boost the economy, to revitalize the manufacturing industry" big government under the proposed doubling of exports within the next five years, the strategy (ie .exports in 2009 was 1.57 trillion U.S. dollars, increased to 3.14 trillion U.S. dollars in 2015), certainly needs the support of a weak dollar policy, "and the weak dollar makes their domestic expansionary monetary and fiscal policy to continue the exchange rate of the underlying dispute ., reflects the crisis cost the United States will transfer to the world's deep motivation. " .</ P> <P> appreciation of the disorder causes: weak dollar </ P> <P> 9 21, the Federal Reserve Open Market Committee (FOMC) federal funds made to maintain unchanged the benchmark interest rate 0-0.25% position, and .reiterated that the interest rate will be at unusually low levels over an extended period; FOMC said that, if necessary, to provide additional easing to support the economy and improve the rate of inflation. .</ P> <P> this firm in the market for the further introduction of the number of future Fed easing and the coming period, "weak" expected, second bottom of the risks the U.S. economy is considered to be an important basis for monetary policy. .</ P> <P> 9 24, Federal Reserve Chairman Ben Bernanke (BenBernanke) publicly stated that the global financial crisis, the impact has not dissipated, leading to slower U.S. economic recovery process in the previous forecast. .</ P> <P> the U.S. Commerce Department reported a seasonally adjusted basis, August durable goods orders was 191.17 billion U.S. dollars, decreased by 1.3% the previous month, to August 2009 the largest decline since; the same time, real estate .difficult market to bottom, the labor market remains weak. .September single-family homebuilders nationwide sales outlook index for the 13 residential, unchanged from last month, is still one and a half since the lowest point. .</ P> <P> based on real economic recovery slower than expected to judge, the U.S. government's "weak dollar" policy to other national currencies is a tremendous pressure, as a financial expert said, the recent period, the euro, yen .the yuan and other currencies of the countries presented the "appreciation" of chaos, we should discuss "who devalue faster than anyone else." .</ P> <P> 2010 in the first half, by the European sovereign debt crisis, the euro against the dollar was just a few months, the rapid depreciation of 15%, while the dollar peg of its strategy to take the yuan against the euro has appreciated by 15%; .The September 21 the number of loose monetary policy unchanged FED's efforts to position all the way to speed up the depreciation of the dollar, the yen suffered more upward pressure on Sept. 15 on the day the Japanese government intervention in currency markets, the Tokyo foreign exchange market yen .U.S. dollar exchange rate had risen to 82.80, a 15-year high, yen appreciation against the dollar for months up to 10%. .</ P> <P> foreign exchange market intervention in infectious diseases </ P> <P> Ping An Securities Fixed Income Shi Lei, executive vice president of sales transactions to the newspaper analysis, Recently rapid depreciation of the dollar, making it the appreciation pressure on monetary authorities .have a motive to interfere. .</ P> <P> the first time in six years, but the Japanese government intervention in the foreign exchange market behavior has not received the expected results, the yen fell after a brief pick up gains. .</ P> <P> shaped cell potential under the ban, the Japanese government intervention in currency markets to second when the news came on Sept. 27, Bank of Bank of Japan Masaaki Shirakawa (MasaakiShirakawa) said, "We are an extremely .great interest in the development of close attention to trends in the foreign exchange market and its impact. "</ P> <P> aggressive side is the pressure of the currency appreciation, while a weak recovery in the real economy. .Such as the Brazilian Finance Minister said, in many countries by manipulating their currencies, in order to improve export competitiveness. .United States, Europe, Japan and no exceptions. .Face the double dilemma, countries are counting on the number of loose monetary policy. .</ P> <P> 9 28, Japanese media reports, October 4 to 5 at the Bank of Japan policy meeting will discuss more relaxed monetary policy, the Bank of Japan will consider an increase of 3 to 6 months fixed rate .purchase of short-term government loans and strengthening bonds. .</ P> <P> the outside world is more worried about the practice of the Bank of Japan currency intervention as there has been a traditional Singapore, Thailand and other Southeast Asian countries to follow, the financial expert analysis, in the eyes of Europe, Asian countries including China, exchange rate policy .on their own to form a de facto export subsidies, Japan and other Asian countries if the massive intervention in currency markets, may threaten international relations. .</ P> <P> the same time, is facing a mid-term elections, the U.S. government once again politicize the issue of RMB exchange rate, the U.S. Council on RMB exchange rate issue again launched an attack from China, after the U.S. House of Sound "to imported products from China to levy punitive .threatening tariffs, forcing the RMB appreciation. " .</ P> <P> 9 21, the central parity of RMB against the dollar, breaking 6.70 mark, and 8 consecutive day of gains, a new high since the reform of foreign exchange. .</ P> <P> Ding Zhijie appears in the current round of yuan appreciation pressure, in addition to political factors (ie, near the U.S. mid-term elections), Western politicians to demonize China has become a major excuse for the image; the United States played the "rate card" .also seeks to gain more bargaining interests. ."Before only open China's financial market supervision, and now further expand the scope asking price, including energy, environmental protection, resource development, foreign policy." </ P> <P> number of easing the dilemma </ P> <P> HSBC Bank of Japan .Economists Baishi Cheng District Secretary considers that if the yen continued to rise, the Bank of Japan ease monetary policy further possibility would be increased. .Naoto Kan, the Prime Minister proposed to be added in the current financial year budget plan, the Bank of Japan may be forced to relax the policy to match. .</ P> <P> number of loose monetary policy in the United States is expected to further expand the background, other countries can not do anything. .</ P> <P> 9 27, the European Central Bank President Jean-Claude Trichet stand, the euro zone more than a year's low interest rates to 1% and no change in the short term, "the current interest rate is appropriate to take .. inflation rate may rise slightly in the short term, but in policy implementation will remain during the whole relaxation. " .</ P> <P> European Central Bank expects the 16-nation euro zone economic growth in 2010 was 1.6%, 1.4% in 2011; 2010, the average inflation rate was 1.6%, 1.7% in 2011, lower than the central bank warning .Line 2%. .</ P> <P> Canada and Australia, the situation is somewhat different. .Earlier, the Bank of Canada interest rate three times during the year, most recently raised the overnight target rate by 25 basis points to 1%. .Canada is a financial crisis, the only Group of Seven organizations to implement rate hikes in the country. .</ P> <P> in the CASS Institute of World Economics and Politics, Zhang Ming, deputy director of the International Financial Research seems to maintain the number of different countries, easy monetary policy unchanged starting point differ, the United States and Europe is to stimulate more .domestic economic recovery, Japan to stimulate the real economy and the sharp appreciation of the yen against both; and emerging markets of recovery ahead of countries want to maintain the stability of the dollar, not a sharp appreciation of the starting point is to promote exports. .</ P> <P> Zhang pointed out that "significant risk of loose monetary policy, global financial markets and the future, once there is any substantial recovery in the real economy, and loose monetary policy, if not timely exit, there is a global inflation and global exchange rate and international .volatility of capital flows is inevitable. "</ P> <P> For China, StephenKing that corresponds with the United States is accusing China in the rising share of global trade has nothing to do with the currency undervalued, and exchange rate adjustment is also .not a solution to the fundamental imbalance, therefore, "the U.S. exchange rate policy will be interpreted as a weak dollar policy rather than the RMB revaluation may be more accurate and more consistent with the fact that more." .</ P>.