Japan, encirclement of RMB seven western countries embarrassed mumbling aphasia.

<P> 30 years in the last century, triggered the world economic depression, the Great Depression of the "currency war", and is now the ghost flashes, great comeback trend. .</ P> <P> Japan, Korea, Brazil and other countries have taken unilateral monetary action recently to hold down their currencies. .Western countries put pressure on European and American efforts in emerging economies, the requirements of its currency to appreciate. .Seven just-concluded Western developed countries (G7) finance ministers and central bankers put the finger at China. .</ P> <P align=center> </ P> <P> this time, as the G7 members of Japan, is facing a difficult history of a rare appreciation of the yen, and its central bank and government have been shot several times, large-scale intervention .yen exchange rate. .This makes the G7 "solidarity" requires emerging economies should not intervene in the currency appreciation of the requirements appears to lack of confidence. .</ P> <P> "G7 is the formation of China's encirclement" </ P> <P> closing in Washington on the evening of 8 local time, the G7 finance ministers and central bank governors, the main task is to expand the coordination to avoid .worries that the world economic slowdown in the context of the global currency of the "competitive devaluation" bigger and the appreciation of the RMB issue has become the biggest focus of the meeting. .</ P> <P> representatives attending the G-7 final agreement, said it would "prevent countries through cooperation to maintain exports to stimulate the economy and the competitive devaluations of the situation", requiring manipulation of exchange rates in emerging economies should not, must be allowed to own .currencies continue to appreciate. .</ P> <P> Although the statement did not name names in China, but Japanese media have said after the meeting: "G7 is the formation of the encirclement of China." .</ P> <P> actions beggar thy neighbor verbal Jiahuoyuren </ P> <P> 2008 fall of the "subprime crisis", the universality of the global economy has been hit. .</ P> <P> two years, international coordination, the national economy has entered a recovery period. .But suffering from high unemployment plagued Europe, America, Japan and other developed countries to take the extremely loose fiscal and monetary policy, hopes to force the new national currency to appreciate to its own advantage of currency devaluation to increase employment and exports, thereby promoting the local economy .recovery. .</ P> <P> a result of the move, resulting in a large number of international hot money into the high growth emerging economies, emerging economies and thus lead to increased pressure of currency appreciation, while inflation and lead to the formation of the bubble economy. .The developed countries still continue to be blamed the trade imbalance with China, led by emerging economies, due to exchange rate manipulation. .</ P> <P> G24 G7 group did not buy the accounts </ P> <P> 10, Japanese media reported that the decision in the developed world monetary order, "Plaza Accord" 25 years later, the set of the year .practices of globalization today can no longer be effective. .New world economic order to participate in the emerging economies how to build, is to make a big issue G7 headache. .</ P> <P> by the emerging economies and developing countries formed the Group of Twenty-Four (G24) countries on Thursday called for global cooperation in the areas of macroeconomic policy in order to ease tensions in the exchange rate. .</ P> <P> G24 attack in a public notice in the pursuit of advanced economies, low interest rate policy, resulting in other currencies pushed up. .</ P> <P> G24 General Presidency South African Finance Minister John Galsworthy said that the current policy of the developed countries led to large capital inflows in many emerging economies, making the currencies of these countries face the pressure of appreciation. .</ P> <P> firm stance clear on many occasions China's position </ P> <P> for the group of developed countries about China's fast-forward the requirements of revaluation, the Chinese side stand clear and firm, not moved by it. .</ P> <P> 6, Premier Wen Jiabao held in Brussels on the sixth China-EU Business Summit, said: "Many exporters profit margin is only 2% to 3%, the highest and only 5%. If by some .requirements, 20% appreciation of the RMB exchange rate to 40%, China's export enterprises will be going bankrupt, workers will be unemployed, migrant workers will return home, the community is difficult to stability. If China's economic and social problems, will bring disaster to the world " .. .</ P> <P> Premier Wen Jiabao pointed out that from 1994, the RMB exchange rate formation mechanism reform to now, the real effective exchange rate of RMB has appreciated 55% during the same period some of the world's major currencies are devalued. .July 2005 to further deepen the reform of RMB exchange rate formation mechanism, to the present, 22% appreciation against the dollar, which the United States during the Chinese trade surplus increased substantially. .This shows that China's trade surplus is the trade structure, not exchange rates. .</ P> <P> Premier Wen Jiabao also reiterated the objectives of the reform of RMB exchange rate stable, that is, to form the basis of market supply and demand with reference to a basket of currencies, managed floating exchange rate system and gradually increase flexibility of RMB exchange rate to maintain .RMB exchange rate basically stable at an adaptive and equilibrium level. .</ P> <P> 8 May, at the International Monetary Fund and World Bank annual meeting of the People's Bank of China Governor Zhou Xiaochuan told a news conference in the Chinese and foreign, will share the International Monetary Fund and the RMB exchange rate reform and other issues linked to, not .mainstream sound. .He stressed that China's currency reform will be gradual and orderly manner, and will not take so-called "shock therapy." .</ P> <P> several times in Japan not qualified to intervene in the exchange rate booing </ P> <P> rapid appreciation in the RMB issue, compared to the loud voice in Europe and America, the Japanese seemed more low-key. .The reason is that Japan does not take into account the overall situation of Sino-Japanese relations, but is in itself the occasion of the river clay Buddha. .</ P> <P> the Washington meeting of finance ministers and central bankers of Japan seemed to be somewhat embarrassed. .Recently because Japan is the only G7 intervened in an attempt to suppress the national currency exchange rates. .</ P> <P> to curb the rising yen, September 15, Japan after an interval of 6 and a half years after the intervention in the currency of the action taken, sold two trillion yen. .5 October, the Bank of Japan suddenly regain the "zero interest rate." .There are views that Japan's objective of these moves "to help China control the behavior of the exchange rate justified." .</ P> <P> after the conclusion of the G7 finance ministers meeting, Ye Tian Jiayan Japanese Finance Minister, said he at the meeting on the Japanese currency intervention to conduct a "clear statement", and stressed that the Japanese government's intervention "will not be long and .large-scale implementation, but also not for the yen exchange rate to maintain a certain level, "trying to show that intervention in foreign exchange markets in Japan and China are different words and deeds. .Europe and the United States did not support and understanding for this show, but did not offer criticism. .</ P> <P> Japanese analysts believe that Europe's move to Japan to take the "default" attitude of the reasons it is worried that a split within the G7, affecting the "united" to form the encirclement of China. .</ P> <P> intervention in the yen is still ascribed to unavoidable </ P> <P> However, the appreciation of the yen because the Japanese government's intervention did not stop. .8, New York foreign exchange market was once 81.72 yen 1 U.S. dollar to its highest level for 15 years, step by step approach $ 1 a record high of 79.75 yen against the value. .</ P> <P> in order to avoid further sharp appreciation of the yen and the formation of pressure on its economy and heavy losses, the majority view in Japan that the government and central bank still needs to continue to implement the interventions. .However, if re-intervention in foreign exchange, is bound to lead to a rebound in Europe and America. .</ P> <P> attempt to save the yen, Japan is now facing the G7 or the maintenance of the unity of a dilemma. .As for the RMB appreciation, Japan is now the mood in Europe also unable to come with yelling out. .</ P>.