男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

Economy

Debasing dollar not solution to Sino-US trade imbalances

(Xinhua)
Updated: 2011-03-10 15:43
Large Medium Small

NEW YORK - Debasing the US dollar would not help reduce the massive US trade deficit with China, economists on a panel at the Council on Foreign Relations said in New York Wednesday.

In 2010, the US trade deficit with China jumped to a record $273.1 billion, up from $226.9 billion in 2009. Both countries have pledged to fix the imbalance.

Since the financial crisis, the United States has been printing money to depreciate the greenback, yet the trade imbalance remains. This showed devaluation was not a viable way to boost exports, said Peter Schiff, president and chief global strategist of Euro Pacific Capital.

"There are severe structural problems that underlie the imbalance. We spend too much and save too little, consume too much, produce too little," Schiff said.

Shang-Jin Wei, director of the Jerome A. Chazen Institute of International Business, struck a similar tone on the issue, saying currency was not the key to resolving the global imbalance.

The rhetoric that the Chinese currency was substantially undervalued was inaccurate and misleading, Wei said, adding the United States had run deficits with most countries, including the European Union, Canada, Mexico and India, not just China.

Related readings:
Debasing dollar not solution to Sino-US trade imbalances China trade swings to largest deficit in 7 years
Debasing dollar not solution to Sino-US trade imbalances China's trade surplus to shrink in 2011
Debasing dollar not solution to Sino-US trade imbalances Trade surplus 'to decrease more' in 2011
Debasing dollar not solution to Sino-US trade imbalances 
Yuan appreciation won't help solve US problems

"That the United States has a deficit against China is not a unique phenomenon," said Wei, professor of Finance and Economics with Columbia University.

In this respect, the Obama administration should not make reducing the deficit against China a priority, but boosting exports of its most competitive industries like high-tech products.

During the panel discussion, Wei put forward an interesting view on China's high saving rates, saying the country's demographic situation, 1.15 pre-marital-age men for every woman, was the fundamental factor behind the high savings rates.

Desperate parents with a son used savings to make their child stand out in an increasingly competitive marriage market, which had led to excess saving, Wei said.

分享按鈕
主站蜘蛛池模板: 苍梧县| 克山县| 沧州市| 田林县| 莎车县| 景谷| 正镶白旗| 望城县| 深泽县| 璧山县| 义乌市| 临沭县| 邹城市| 富源县| 眉山市| 治县。| 南靖县| 临海市| 桐城市| 安泽县| 昌吉市| 南昌县| 仁怀市| 贵溪市| 凤冈县| 香港 | 镇康县| 阳城县| 台湾省| 益阳市| 鱼台县| 凌海市| 咸丰县| 夏津县| 融水| 怀柔区| 河南省| 巴彦淖尔市| 沁水县| 余庆县| 乐亭县|