Among the many novels, one of the highest realm is murder. Today, hailed as the world's largest economy in the United States, is doing a sort of "murder".
23 October, the Group of twenty (G20) Finance Ministers and Central Bank Governors meeting in Korea Kyung closing. Global concern "exchange rate wars" on this day there seems to be a turn, the g-20 commitments to avoid currency war. This field because of the Obama administration by the depreciation of the dollar initiative to detonate the exchange rate of the war, because the G20 meeting will stop clamoring? China foreign investment Dean Elaine TAM may not think so. She said that the United States people this time on the dollar is a momentary impulse, if its domestic economic situation is not expected to improve, it is difficult to put aside the exchange rate wars.
Chengdu business newspaper reporter was informed yesterday, from 15 September rate war full-blown 40 days, China's foreign exchange reserves has lost approximately 900 million Yuan.
Multinational release rate war spreading
September 15, Japan's Central Bank suddenly to market sell-off about 2 trillion yen, in order to prevent the yen against the dollar for dollar, this is 6 years, the Government of Japan for the first time on public intervention in the Forex market.
September 29, United States House of representatives passed the exchange rate reforms promote fair trading act, allows the United States Government on the so-called undervalued currency countries impose special tariffs aimed at RMB.
At the end of September, the Ministers of Brazil Guido · manteiga publicly stated, "we are in an international exchange rate war. ”
4 October, the Government of Brazil announced that foreign investors in their investment in fixed income financial operations tax rate from 2% to 4%, and authorized the Ministry of finance to purchase foreign currency on the billions of dollars in advance to prevent local currency appreciation.
October 5, Japan's Central Bank accidentally inter-bank offered rate unsecured overnight from 0.1% to zero to 0.1%, after 4 years after the restart the Fed.
In South Asia, India is also added to the intervention force, purchased nearly 4 million active Exchange, prevent further appreciation of the rupee. Prior to this, rupees a month has gone 5.2%.
During this period, Thailand, Korea, Peru and other countries have also stated that the forthcoming or implemented on local currency appreciation of interventions.
October 19, the International Monetary Fund (IMF), Kaan had to stand up and warned that if the world major economies continue to struggle in the exchange rate disputes, the global economic recovery will be at risk.
RMB appreciation "by" foreign exchange assets shrink
Financial high deficits, high unemployment, economic recovery, from June this year, the Obama administration to defy, decided to start a weak dollar policy, on the initiative of the global currency devaluation African-American.
A few months, euro, Australia dollar, Japanese yen, Korean won, RMB, Brazil Reals and so no one is immune, have been forced to against the dollar.
Period, the Chinese Government has repeatedly demonstrated on various occasions, the firm stance will further advance the reform of the Renminbi exchange rate regime, the RMB if, within a short period of dollar will give the Chinese economy, as well as the world economy have a tremendous impact.
United States Government are not resign himself. On the G20 Finance Ministers and Central Bank Governors meeting, United States Treasury Secretary Geithner also hinted that the appreciation of the Renminbi.
In fact, from June 19-the Central Bank announced that restart the reform of the Renminbi exchange rate mechanism, the Renminbi against the US dollar has appreciated by about 3%. 9 month exchange rate since the outbreak of World War II, RMB 40 days against the dollar has appreciated 0.8%.
Appreciation of the Renminbi, brings the people of wealth is directly shrinking. Chengdu business newspaper reporter was informed that, as at the end of September this year, China's foreign exchange reserve balances 26483 billion. Recently, media reports said that the proportion of the global foreign exchange reserves of about us $ structure weight 65%, euro, pound sterling, 26% 5%, 3% in Japanese yen, Chinese basic and close.
If this standard calculation, in China's current foreign exchange reserves, only US assets accounted for approximately 1.72 trillion. Chengdu business newspaper reporter yesterday was informed that the Yuan against the dollar 0.8%, means that the foreign exchange reserves in this period of time lost approximately 900 million Yuan.
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