This move was the first ice-breaking global aoyangxing tide surge

According to the Shanghai Securities News report: at the exit policies of battles, Australia's Central Bank has taken the lead in action: Tuesday announced increases in interest rates by 25 basis points. This indicates a round of intense interest surge is the end. As the financial crisis since the outbreak of the first group of twenty Member States of the increasing interest in, Australia this initiative led to the advent of global interest rising tide. Yesterday, the latest interest rate decisions made two major central banks in Europe is on track to announce, I think.

Two rows of continuous watch

United Kingdom Central Bank yesterday announced as scheduled maintenance 0.5% benchmark interest rate unchanged; the same day, the ECB also continue to wait and see attitude, not its current 1% of the benchmark interest rate level changes.

In spite of the stock market began to rise, but the economic recovery remained weak entity. Recent economic data suggests, the United Kingdom economy may already be in the third quarter from the recession, but this week it announced August decline in industrial production data from accidental, caused 2.5% recovery may require more time. The Finance Ministers of Sweden also stated that the previously Burg European economy is to recover the "interim", but he stressed that the policy "in the future" must remain very dilated.

The European Central Bank in September monthly reports that benefited from the gradual recovery of exports situation as well as the Central Bank and Government incentives, the third quarter of the euro area economy to stabilize. The EU Executive Committee will be published in early November to all EU countries economic growth forecast. The European Commission responsible for economic and Monetary Affairs Committee Almunia said that only get these projections until May when to take exit strategy for more detail.

Aoyangxing ice's road

Australia seems to always be on the "head" Suoo remain keen interest. 7 October last year, Australia's Central Bank has taken the lead in interest. But the Central Bank, the second this week announced that US interest rates by 25 basis points, to 3.25%, again opened the Group of twenty Member States. This is since March 2008 for the first time since the rise in interest rates.

Australia Bureau of statistics announced Thursday, the unemployment rate in September, Australia from August 5.8% to 5.7%, better than the market expected. Affected by this boost, the benchmark S & Thursday Australia P/ASX200 index closed up 1.6% to 4768.6 points, after the publication of the employment data were touching the 12-month high of 4780 points.

Australia's Central Bank Governor Stevens in the interest of the Declaration after the publication, "as in the implied interest rate increasingly normalization, today's decision could be opened a series of interest rate increase action. "He said, as economic growth in the coming year may be close to trend, the inflation rate near the target, Australia economic risk of severe contraction is also has been eliminated, the Central Bank's monetary policy Committee is of the view that, from now on the gradual abolition of irritant monetary policy is a wise choice.

Global Central Bank delicate Steering

The challenges in Australia's Central Bank, the World Bank has also started facing upheaval. Although in the just concluded the Pittsburgh g-20 Summit, the countries reached an agreement, however leave early, but there are some signal display, national approach to monetary policy wording may appear delicate steering.

Fed Vice Chairman Kohn 28 last month that monetary policy makers in consumer spending and business investment before it began to move. Troubled by inflation expectations are clearly more than United States a country. Norway's Central Bank also expressed similar concerns, global liquidity will stimulate India, Korea and other Asian economies asset prices. Market is expected in these economies will rise early next year, but the interest rate decision in Australia, they might want to advance the action.

Of course, there are also some countries still in a recession, Russia's Central Bank last month 29, announced that its refinancing interest rates by 50 basis points to 10%. This was Russia's Central Bank since April 7th downward since the interest rates. But before that, the Bank announced that Hungary will Hungary Bank benchmark interest rates by 50 basis points, to 7.5%.

North Korean currency reform intended to control the market economy

Most of the experts said that the purpose of the Korean currency reforms by reducing residents held cash in hand to stop inflation. Of course, cannot be denied that the regime which does have such a purpose. But from an objective point of view, the inflation is not serious to require implementation of currency reform. Korea 2002 "7-1 improvements have appeared since the" serious phenomenon of inflation, but recently has been basically back to normal. It can therefore be said that, compared to control inflation, monetary reform more inclined to other purposes.

The currency reform as weakened over the past 15 years to challenge national economic domination system measures of market forces is more appropriate. Although the Administration tried to maintain highly planned economic system, but the spontaneous growth of the community still has a number of market forces, they become the elites mortal enemy. Korean cadres are most worried about the "enemy" is to rely on the market for a living people. For the ruling class, in the home do tofu or sewing clothes for aunt were better than "American imperialism" and "puppet" more fearful of South Korea.

This is because market forces towards the cadre of power and privilege. Bazaar is available on virtually change the consciousness of the Korean people. The spontaneous formation of the market makes the inhabitants understand, even if they do not rely on things that can be assigned its own survival. In addition, the fair is also a channel for the free flow of information.

Due to the Korean Peninsula North-South economic disparities, and in the case of splitting the situation, if you take the Chinese reform and open policy is likely to be the same as East Germany caused system crash and the consequences of being unified. Korean rule classes cannot be arbitrary control, finally forced to suppress the market forces only. Therefore, they implement the currency reform, this policy will be to many individuals and small and medium-sized enterprises a mortal blow.

The 2005 recovery after the distribution system, the rule of the Korean domestic scene in short is "anti-reforms". In the past four or five years, the North Korean regime has been working to limit or suppress the spontaneous formation of market trends and attempt recovery of Stalin's regime in the era of Kim Il Sung. Monetary reform is leading to this goal.

(Korea of the North Korean Journal article 8 December)

United States bank failures and continued at the beginning of the tide

See also the bankruptcy, bankruptcy. When Goldman Sachs, JP Morgan, some large transnational financial groups began to prepare for the coming end of the "red packets" to celebrate, the financial crisis caused by the virus remains in the United States financial banking system rooms spread.

At minus 10 degrees cold weather, the United States has since 2010 the first bank bankruptcy. Recently, the United States federal regulatory bodies officially controlled the Horizon of the 18 branches of banks. As far as I know, Washington Federal savings and loan Association will take over the Horizon bank deposits. As at September 30, 2009, these savings amount to 11 million. Meanwhile, Washington Federal savings and loan Association Bank will purchase the Horizon all assets total $ 13 billion. Expected to spend around $ complete merger 5391.

Since the 2008 financial crisis, the United States of some large banks clients Government and survive, and those in small and medium-sized bank continuously encounter failures. 30 October last year, a day with California National Bank 9 banks collapse. Information display, full-year 2009, the United States a total of 140 bank failures. While these bank failures, most because of credit default. Some experts predict that the future will have the United States of small and medium-sized banks appear to fail.

The Earth at the other end of the banking sector to various scenes in the banking sector is the most vivid of textbooks, as well as our Bank provides a good opportunity to strike, but at the same time full of risk.

"We don't have to go swimming in the sea inside, or is still a long way away from the water, so we could not have drowned, but does not mean that our swimming is very high quality," China Merchants Bank Governors Ma weihua faces in the near future when attending the Beijing Guanghua Forum said so. He believes in the internationalization of the road, the Chinese banks to take the opportunity of risk because many phenomena, many toxic assets we haven't realized.

Minsheng Bank Hong Qi in the same activity, shared his bank going out some experiences in the process. Hong Qi that, to the foreign bank's failure to absorb lessons, powerful himself. At the same time to go out before another legal, corporate governance, and other details do complete understanding.

An expert on the daily news said that the United States Bank continually goes bust, particularly small and medium-sized banks of bankruptcy, our banks take. Especially the "unbalanced" small and medium-sized banks, but also in each process and strict checks, the prevention of credit risk.

Russia's central bank announced a 25 basis point rate cut.

<P> 29, Central Bank of Russia announced that starting from April 30 Jiangzai financing interest rate from the current 8.25% to 8%, other market interest rates were also reduced to different extents. .Analysts say the move is to stimulate economic recovery. .</ P> <P> This is the third time this year the Russian central bank cut interest rates, interest rates are the first two in February and March at a rate were 0.25%. .Russia's central bank cut interest rates last year, a total of 10 times, the cumulative rate cut of 4.25 percentage points. .</ P> <P> Russia's central bank said that the level of future interest rate will be considering further adjustments to the consumer price index, industrial production, credit and other indicators. .</ P> <P> 28 Russian Economic Development Ministry figures released show that a quarter of Russia's GDP grew 4.5%, but other aspects of investment and consumption have shown that Russia's economic recovery is still not stable. .</ P>.

Vale said the Department denied manipulating the price of iron ore market supply and demand.

<P> According to the British Financial Times reported that high iron ore prices for Chinese made the allegations, the Brazilian ore giant CVRD (Vale), said yesterday that "CVRD did not manipulate the price: the price is market manipulation." </ P .> <P> steel manufacturers and Chinese officials that the global iron ore market power is too concentrated, CVRD, Rio Tinto and BHP Billiton mastered the pricing power. .</ P> <P> 罗杰阿格内利 Vale chief executive said in Shanghai is the supply and demand determine price, not the big iron ore miners. .</ P> <P> previously said the three iron ore giants such as iron ore and coking coal, steel making commodity prices further. .The second quarter iron ore prices have risen by 90% to 100% of coking coal prices also rose by 55%. .The third quarter average price of iron ore is expected to rise 30% to 35%, coking coal prices will rise 10-15%. .</ P> <P> iron ore and coking coal prices eventually will inevitably pass through the steel to a variety of commodities, which sparked concerns about inflation in emerging countries. .</ P>.

International observation: "China alone show": the hidden evil of the "kind words".

<P> Recent years, Western public opinion from time to time all sorts of absurd arguments about China, for example, the "China threat theory", "China's responsibility" and so on. .Recently, the "China alone show on" and in some western media take out. .</ P> <P> the so-called "China's show of independence," is nothing more than that in the world financial crisis, the Western economic difficulties, while China is singing all the way, China has received the most benefit, China is the biggest winner. .</ P> <P> international analysts pointed out that advocating the "China alone show of" people appear to be "kind words" China, in fact, their sleeve is harmful Chinese medicine. .They tried to pressure China by this argument assumes the international obligations incompatible with their capacity, affect both China and other countries, especially developing countries relationship. .</ P> <P> not thriving </ P> <P> in the international financial crisis, China's "independence show" it? .This "flattery" China's argument holds water it? .</ P> <P> this, the Brazilian Institute of Economic Research economist Marco Sixin practical Tel 16 In an interview with Xinhua News Agency reporters Cai Fangshi and Yong Shishi gives the answer. .</ P> <P> Sintra noted that some developing countries due to the implementation of the correct tax and monetary policy, not only by the financial crisis to a lesser extent, but is ahead of the pace of global growth to development, such as Brazil .In the first quarter of this year, an increase of 9% achieved a rare high speed. .Similarly, India and China also achieved a higher growth rate. .</ P> <P> "So, as we expected, developing countries are leading the global economy back to prosperity," Sintra emphasized. .</ P> <P> can be seen from the words of Sintra, in addition to China, Brazil and India, at least in response to the international financial crisis is also doing well. .</ P> <P> coincidence. .World Bank Vice President and Chief Economist Justin Yifu Lin pointed out that although China's economic performance is better, but other countries such as India, Brazil, and Nigeria in Africa and other countries, growth is faster. .</ P> <P> Facts show that China take measures to respond to crises in other countries to promote economic recovery. .</ P> <P> as a long-term focus of China's development economists, Sintra pointed out that despite China's own industrial structure can largely meet internal needs, but it still imports a lot from the zero-region .components. .Therefore, China's development has two benefits, on the one hand it implements its own development, on the other hand it led to the development of the region. .</ P> <P> he stressed: "In the process of recovery of world economy, China plays a key role." </ P> <P> Lin, in a process of globalization, a country developed .better, will be to create better conditions in other countries. .Relatively fast economic growth in China, import demand will be more demand for resources also increased. .Therefore, the relevant South Korea, Japan and Taiwan Province of China, the recovery is relatively strong; other resources are relatively affluent as Australia, some Latin American countries, China's development has created many opportunities to them. .</ P> <P> "Chinese and world economy are closely linked. Can be said that the world has entered a multi-polar pattern of growth," Lin said. .</ P> <P> facing many challenges </ P> <P> In fact, China is also one of the victims of international financial crises, as well as to deal with this crisis and achieve economic recovery cost. .From the future perspective, China's economic development also faces enormous challenges. .</ P> <P> Lin pointed out that this time the international financial crisis on developing countries have much impact on China as well. .Originally, Chinese economy can grow more than 10%, but only 8.7% last year. .</ P> <P> Brussels Institute of Contemporary China Heer Si La, director of the view that China's economic development over the past few decades has made tremendous progress, it can be said to leap, but this is more a leap " .quantum leap ", then China needs to achieve a" qualitative leap ", the task for China will be very difficult. .</ P> <P> Heer Si Rugby said: "The use of cheap labor from China, rely on exports of high technology in the development model to increase the proportion of economic development, develop new economic growth point in the direction of transformation. .In this transformation process, China will face enormous challenges. "</ P> <P> He also pointed out that China's GDP growth, how to make this growth to the benefit of ordinary people to bring more .and realize the harmonious development of society is China needs to solve. .</ P> <P> Heer Si La stressed that the current international environment for China, it is not good, mainly because of China's major export markets are facing difficulties, such as the U.S. faces its own financial problems, Europe is deep .depression sovereign debt crisis, making them China's export-oriented economic development and sustainability of this mode of worry and doubt, some countries have even adopted some interested in China's foreign trade growth for protectionist policies. .</ P> <P>, deputy director of Far Eastern Studies Russian Academy of Sciences, Russian-Chinese relations, director of research and forecasting with Heer Si Ya Kefu quarter Rugby Ball has a similar view. .</ P> <P> "As China's leaders have said the financial crisis on China's economic growth not only have external influences, in essence, the economic growth model is also sounded the alarm. China has recognized that changes in growth patterns around the corner .must change for the intensive development of extensive, increase high-tech, enhance innovation capacity, "Boer quarter Ya Kefu said. .</ P> <P> He pointed out that the growing Chinese economy into the international market, demand for external resources and markets on the rise. .This is a "double-edged sword." .On the one hand, other countries, for the revitalization of its economy and restore its growth objective, the introduction of China's capital; the other hand, against China's anti-dumping investigations are more and more, many countries raise tariffs on Chinese products. .This is China in the international market challenges. .</ P> <P> "flattery" What is the purpose </ P> <P> why some people advocate that the West "China alone show on?" .</ P> <P> Boer quarter Yake Fu pointed out that there is no doubt that China's rapid economic development has caused a lot of the country's "jealous", many countries attempt to own anti-crisis policy failures and domestic problems attributed to China and China .Government. .</ P> <P> He pointed out that the Western media present the existence of such a public opinion: what problems if the global economy, the finger points to China; when they need to undertake international obligations, but also point to China, "the global economic situation seems to .better depends entirely on what measures the Chinese. " .</ P> <P> long-term economic and social development issues Boer quarter Yake Fu also said that the so-called China's economy thriving, the biggest beneficiaries of the financial crisis, China's economic development so that damage to the views of other national interests ., one of its purposes is to pressure China to take on more international obligations. .</ P> <P> "However, just as China has always emphasized that China can not afford the burden of practical abilities. Moreover, China has many internal problems to be resolved," he said. ."For example, we all know, the earthquake in Yushu in Qinghai Province in China this year led to heavy casualties, and in 2008 the loss is more devastating Sichuan earthquake. For earthquake relief, China must invest a lot of financial and human resources." </ P> <P> .Pol quarter Yake Fu stressed that the recovery of the global economy is not just the more prominent economic performance of countries such as China, the responsibility of the international community should make joint efforts of all countries. .</ P> <P> Heer Si la that other countries need to enhance mutual trust with China, strengthen cooperation and to avoid mutual suspicion and prevention. .(Integrated Xinhua News Agency reporter Chen Weihua, Zhao Yan, Jacky Lau, Liu Xiaoyan, Liu reported) </ P>.

France and Germany urged the Group of Twenty more to reach an agreement of international financial regulation.

<P> French President Nicolas Sarkozy and German Chancellor Angela Merkel sent a letter 21, Canadian Prime Minister Stephen Harper called the Group of Twenty summit in Toronto on international financial regulatory measures to achieve more global agreement. .</ P> <P> Nicolas Sarkozy and Angela Merkel said that France and Germany on a global scale in favor of levying tax on banks and financial transactions tax to ensure fair competition in the financial industry to prevent the financial system risks and enhance crisis management. .They hope to reach agreement on the Toronto summit. .</ P> <P> two leaders believe that the need to strengthen bank liquidity and capital adequacy ratio, to ward off possible financial risks. .The situation to ensure the transparency of bank assets, the bank regulators should stress test their results made public. .They said the EU at the latest will be announced in late July this year, the banking sector stress testing results in order to calm the market for health of European banks suspicion. .</ P> <P> Nicolas Sarkozy and Angela Merkel said they would promote the Toronto summit to take strict control of financial derivatives instruments, such as transaction information required to report all transactions, all transactions in the framework of regulating the market or .electronic form, clearing organizations and settlement of transactions. .They called on the parties to coordinate their positions, credit default swap market should bring the financial risks. .</ P> <P>, they say, twenty leaders of the Group should continue to crack down on "tax havens", the fight against corruption, money laundering and the financing of terrorism and other criminal activities, punishable violation of the rules of the international financial prudent behavior. .They stressed that since the Group of Twenty summit in London since 2009, the international number to reach an agreement to share tax information, and now need to implement these agreements. .French and German Economic Cooperation and Development invited the States to inspect the implementation of the agreement and announce the results. .</ P> <P> Nicolas Sarkozy and Angela Merkel said that the financial stability of the Council's survey shows that Member States impose tax on banking bonuses different action undermines fair competition in the world's financial industry. .To this end, they called for the Council to impose financial stability, the banking industry to develop guidance standards for tax money to facilitate the implementation of national unity. .</ P> <P> two leaders also called for strengthening international credit rating industry regulation and standards. .They believe that this industry is the lack of competition, the Group of Twenty International Organization of Securities Commissions should be required to take measures to introduce competition. .In addition, practitioners in the international credit rating industry should be increased in the rating criteria should be considered the result of public methods and the possible impact on the market and other related terms. .</ P ><!-- end_ct ->.