久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Macro

Economists puzzled by state of economy

By CHEN JIA | China Daily | Updated: 2013-06-17 02:49

Economists puzzled by state of economy

Quantitative easing is an unconventional monetary policy used by a country‘s central bank to stimulate its economy when standard monetary policy has become ineffective. The world‘s first and third most powerful economies — the United States and Japan — are implementing QE policy but a senior Chinese economist warns that excessive money supply is like "a tiger in a cage". "Once it is released, the consequences will be severe," he said. [Provided to China Daily ]

Policy makers hesitant about next step as money supply increases a lot

A faster-than-expected increase in money supply and soaring bank credit but modest economic growth is an equation that has left Chinese monetary policy makers puzzled and hesitant about their next step.

Any impulse to ease or tighten monetary policy at the moment may lead to irretrievably awful results as economists reveal their helplessness.

Robert E. Hall and David H. Papell wrote in their book Macroeconomics — Economic Growth, Fluctuations and Policy — that "unsound monetary policy is the chief culprit" leading to serious recession and inflation.

By the end of April, the broad money supply, or so-called M2, had exceeded 103.3 trillion yuan ($17 trillion), up by 16.1 percent from a year earlier, compared with a year-on-year growth of 15.7 percent in March, according to the central bank.

But the year‘s target for money supply increase was anchored at 13 percent, which requires an average lower-than-12 percent M2 growth rate in the final eight months of this year, meaning there will have to be relatively tightened monetary policy.

Up to the end of 2012, M2 in China was close to double the total value of the gross domestic product, higher than a world-recognized warning line of 1.5 for the M2/GDP ratio. In comparison, that ratio was only 0.32 in 1978.

Cheng Siwei, a renowned scholar in economic, financial and managerial fields and the former vice-chairman of the Standing Committee of the National People‘s Congress, warned that the excessive money supply is like "a tiger in a cage". "Once it is released, the consequences will be severe."

Cheng attributed high property prices and the recent rush to buy gold to the faster-than-expected increase in money supply. He is concerned about high inflation in the long term.

Since the year 2009, policy makers have written the annual M2 growth target into the annual government work report, which is announced by the premier at the opening of the National People‘s Congress every March.

Ji Zhihong, director of the research bureau of the People‘s Bank of China, said that for making monetary policy, the nation uses money supply as the key control tool, while also paying attention to other reference indexes including interest and exchange rates.

"The final target is to maintain price stability and steady economic growth," said the bank official.

Previous 1 2 3 4 Next

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

    久久最新免费视频| 黄色免费视频大全| 欧美日韩性生活片| 天天色天天综合网| 黄色片网址在线观看| 在线观看中文av| 欧美视频在线播放一区| 国产精品美女在线播放| 能在线观看的av网站| 六月婷婷激情综合| 激情五月婷婷基地| 欧美成人黑人猛交| 久久人人爽人人爽人人av| 在线播放免费视频| 日本激情视频在线| 国产成人黄色片| 久久久久久av无码免费网站下载| 性欧美1819| www.国产区| 国产3p露脸普通话对白| 中国一级黄色录像| 天堂av8在线| 日日噜噜噜噜久久久精品毛片| 免费 成 人 黄 色| 亚洲 欧美 综合 另类 中字| av磁力番号网| 91大神免费观看| mm131亚洲精品| 亚洲男人天堂色| 久久久久久久久久福利| 免费黄色日本网站| 你懂的av在线| 国产精品久久中文字幕| av在线播放天堂| 国产欧美日韩小视频| 国产精品视频一二三四区| 午夜免费视频网站| 国产5g成人5g天天爽| 中文av字幕在线观看| 天堂av8在线| 色天使在线观看| 国产成人美女视频| 婷婷激情综合五月天| 中文字幕色网站| 亚欧精品在线视频| 日韩精品一区二区三区电影| 无套内谢丰满少妇中文字幕 | 国产性生活免费视频| 欧美日韩一级在线| 色哟哟免费网站| 在线视频一二三区| 真人做人试看60分钟免费| 欧美在线观看黄| 蜜臀精品一区二区| 日本少妇高潮喷水视频| 九色在线视频观看| 激情五月开心婷婷| 天堂av在线网站| 国产毛片久久久久久| 丰满女人性猛交| 国产免费内射又粗又爽密桃视频| 国产片侵犯亲女视频播放| 国产一区二区网| 欧美视频第三页| 国产精品自拍视频在线| 91欧美一区二区三区| 午夜啪啪福利视频| 国产午夜福利100集发布| 国产日韩一区二区在线观看| www.99在线| 人人妻人人澡人人爽精品欧美一区| av动漫在线免费观看| 久久黄色片视频| 视频二区在线播放| 超碰超碰超碰超碰超碰| 成人一区二区免费视频| 人人干人人视频| 国产高潮呻吟久久久| 国产精品专区在线| 奇米影视四色在线| 国产成人一二三区| 爱福利视频一区二区| 粉色视频免费看| 国产经典久久久| 日韩a在线播放| 亚洲成人手机在线观看| 日韩一级性生活片| 中文字幕第36页| 欧美交换配乱吟粗大25p| aa免费在线观看| 欧美 另类 交| 妞干网在线免费视频| 国产又爽又黄ai换脸| 午夜精品久久久久久久无码| 五月天婷婷亚洲| 天堂…中文在线最新版在线| 在线观看国产中文字幕| 日韩成人三级视频| 亚洲欧美自拍另类日韩| 精品无码一区二区三区爱欲| 国产 porn| 久久99中文字幕| 91插插插影院| 国产精品无码专区av在线播放| 国产三级中文字幕| 久草综合在线观看| 国产免费裸体视频| 日韩欧美理论片| av网址在线观看免费| 国产视频在线观看网站| 污视频网址在线观看| 国模吧无码一区二区三区| www.久久com| 日本中文字幕高清| 久久视频这里有精品| 国产精品久久久久久9999| 国产av第一区| 欧美一级黄色影院| 青草视频在线观看视频| 五月天婷婷亚洲| 99热自拍偷拍| www.国产二区| www.国产福利| 手机看片福利日韩| 久久久久久久中文| 国产激情片在线观看| 男人午夜视频在线观看| www日韩在线观看| 浮妇高潮喷白浆视频| 日本男女交配视频| 今天免费高清在线观看国语| 亚洲视频第二页| 成人中文字幕av| 欧美亚洲精品一区二区| 欧美狂野激情性xxxx在线观| 99999精品| 蜜臀一区二区三区精品免费视频 | 久久午夜夜伦鲁鲁一区二区| 秋霞无码一区二区| 国产一区二区片| 国产91在线亚洲| 好吊色这里只有精品| youjizz.com亚洲| 黄色一级片免费播放| 成人亚洲精品777777大片| 亚洲高清在线免费观看| 色婷婷综合久久久久中文字幕| 国产免费黄视频| 国产黄视频在线| 欧美日韩在线一| 黄色免费观看视频网站| 日韩中文字幕三区| 丰满人妻中伦妇伦精品app| 浮妇高潮喷白浆视频| 337p粉嫩大胆噜噜噜鲁| 日日橹狠狠爱欧美超碰| www一区二区www免费| 国产精品亚洲a| 国产精品视频黄色| 色免费在线视频| 免费黄频在线观看| 国产精品无码乱伦| 激情六月天婷婷| www.99热这里只有精品| 国产黄视频在线| 国产精品免费成人| 九色porny自拍| 99热这里只有精品7| 国产在线视频综合| 日本日本19xxxⅹhd乱影响| 不卡影院一区二区| 午夜免费看视频| 中国老女人av| 日本午夜激情视频| 国产欧美高清在线| 亚洲36d大奶网| 免费成人深夜夜行网站视频| 日韩久久久久久久久久久久| 18岁网站在线观看| youjizzxxxx18| 九九九久久久久久久| 国产freexxxx性播放麻豆| 777久久久精品一区二区三区| 中文久久久久久| 日本丰满少妇黄大片在线观看| 日韩精品在线中文字幕| 国模杨依粉嫩蝴蝶150p| 亚洲精品成人在线播放| 奇米777四色影视在线看| www国产黄色| 天天综合天天添夜夜添狠狠添| 白白操在线视频| 免费黄色特级片| 手机av在线网站| 久久精品视频16| 中文字幕22页| 国产美女主播在线播放| 日本人视频jizz页码69| 男女啪啪免费观看| 妞干网在线免费视频|