China's huge trade surplus with China alone can not be solved unilaterally
China's huge trade surplus with China alone can not be solved unilaterally
May trade surplus of 13.004 billion U.S. dollars in China, setting a new monthly high this year. The first 5 months of surplus reached 46.773 billion U.S. dollars.
With the June 12 General Administration of Customs of China released the figure, the outside world for fear of China's huge trade surplus this year, immediate recovery. Early this year "will be the year in the 80 billion U.S. dollars surplus in control within the" forecast, now seems impossible.
China has a trade surplus for 25 months.
Despite the high level since the Chinese government has repeatedly said: "do not pursue trade surplus," but except in February of this year's trade surplus fell sharply, the subsequent month are strong.
Trade surplus is attributable mainly to international factors. 10 consecutive years by the industrial structure of China's widening trade surplus advantage of the situation, is likely to further such a 10 years.
International market demand this year is very busy, not only is China's exports, exports of other countries is also increasing. Meanwhile, according to our estimates, China is still at large to attract foreign investments, which invest at least 70% of the manufacturing sector, while the IT industry is the most concentrated areas of foreign capital. China has formed such a high production capacity, of course, need to export.
Since the end of last year, the Government has taken various measures to try to control the trade surplus. Action from the government point of view, the yuan appreciate slightly, limiting the export of resource products, the government can do have been done a lot. But the surplus problem is not the Chinese government's macro-control unilaterally be solved.
Our government's macro-control objective is to prevent the economy has always been ups and downs, rather than the export. From now on the circumstances, foreign trade is relatively stable. China's macroeconomic management can not come Meng Liao, too slowly. At the same time, we rely on market self-regulation more, if the total intervention by administrative means, will definitely lead to market distortions. Some problems, the government should not, too busy. Such as exchange rate, exchange rate for multinational corporations and not much impact because they can be resolved in-house pricing, exchange rate control on the part of the industry will be affected.
After all, China's trade surplus is the globalization of the market determined by the division of labor, industry, now a lot of multinationals to China, most of them are in the company of import and export trade, this trend can not stop. At the same time, we see that foreign investment in high-tech area increased, indicating a transfer of industry have not yet finished, the global economic structure will continue. So I think that can not rely on the government's macro-control policies to address.
Foreign exchange reserves are indeed under pressure, but not all trade surplus of high foreign exchange reserves caused. The first five months of this year's trade surplus is 468 billion dollars, while foreign exchange reserve is 818.9 billion U.S. dollars last year, now has more than 900 billion U.S. dollars, much more incremental than the trade surplus, so one must see the impact of short-term capital, the problem can not all be attributed to the trade surplus. We see a huge trade surplus figure implies that the employment of large numbers of people, so I think we have no need for such sensitive trade surplus figures. The RMB appreciation, if necessary, we can let the yuan float more point range, had the exchange rate is market regulation and control of a lever, so appreciation of the RMB is not in itself a bad thing.
Huge trade surplus from last year caused widespread concern, including the public in general worry about the trade surplus between China and lead the United States repeatedly threatened to use trade sanctions.
I think we do not worry too much about the reaction of other countries, each country has its own macroeconomic policy, the United States can blame our problems, we can also criticized the U.S. policy of dual deficits.
Now seems unlikely the United States to impose sanctions on exports to China, because a large number of Chinese exports to the U.S. products, especially IT and other high-tech products, mostly from multinational companies, especially the United States own company. Therefore, the sanctions on the United States itself, no good.
Trade surplus may cause the biggest problem is that the impact on domestic money supply. But for now, it is still within our control. Such as further relaxation of exchange rate fluctuations, etc., so do not worry too much about. The Myth Of Making Money Online How Do People Make Money Online? Why not Choose Discount Eyeglasses from the Online Stores? Why You Will Never Make Money Online How To Shop For Gold Jewelry Online Online Payroll Service – hassle free payroll service Payroll Service – the best comes through online How To Attract Young Women Online Save Money On Your Next Online Purchase Online Word Processing Solutions - Benefit Of Word Processing Services Watch The Warrior's Way 2010 Online Free Full Divx HD The Beauty Of Choosing Online Prepaid Mobile Recharge Enjoy Valuable Advantages Of Finding Professional Online Data Entry Services