USEUROPEAFRICAASIA 中文雙語Fran?ais
    Home / World

    Lou cautions of risks linked to Fed's plan

    By Joseph Boris in Washington | China Daily | Updated: 2013-07-13 08:26

    Lou cautions of risks linked to Fed's plan

    Lou cautions of risks linked to Fed's plan

    Chinese Vice-Premier Wang Yang (left) and US Secretary of the Treasury Jack Lew wait for a roundtable meeting during the 5th China-US Strategic and Economic Dialogue at the US Department of the Treasury on Thursday in Washington. Brendan Smialowski / Agence France-Presse

    China's Finance Minister Lou Jiwei cautioned the US Federal Reserve to beware of risks to the global financial system after the Fed said that it may quit its quantitative easing policy.

    Lou said that China supports the plan but takes no position on when it should be implemented.

    "We support the considerations of the Fed of its QE exit, but we should pay high attention to the impact of the policy on the international financial system and properly handle the timing, tempo and intensity of its QE monetary-policy exit while guarding against the possible financial risks," Lou told reporters on Thursday during the fifth China-US Strategic and Economic Dialogue in Washington.

    "The monetary policy of the United States does not exert impact only on itself, but also has a spillover effect on the global economy," he said.

    The minister said China's leadership supports plans by the Fed to end its bond-buying policy known as quantitative easing, or QE, as conditions allow.

    He also expressed Beijing's view that although the Fed will abandon the QE policy "sooner or later", the Chinese government would find it difficult "to make a specific comment" on the timing.

    "But if measured by the unemployment rate (in the US), which is 7.6 percent, probably it is an earlier exit," Lou said.

    He pointed out that developing economies would likely be worst hit by volatility once the policy winds down. Economists said that slower growth, exchange-rate volatility and tighter credit conditions may be caused by investors directing capital to US markets in anticipation of bigger returns from interest-rate increases.

    "The impact on China will not be very serious," Lou said, explaining that risk from a QE pullback is limited because China's capital account - the difference between inbound and outbound spending flows - "has not been fully liberalized" and remains largely regulated.

    Fed Chairman Ben Bernanke, who during this week's S&ED met with Chinese central bank officials, told a conference of US economists on Wednesday that QE was here to stay for the foreseeable future. He said a "highly accommodative monetary policy for the foreseeable future" would be needed even after the US unemployment rate reaches 6.5 percent.

    On Thursday, Yi Gang, vice-governor of the People's Bank of China, reiterated Lou's reassurances about the limited impact on China if the Fed ends its loose-monetary policy.

    "We are fully prepared for these kind of risks. China has abundant liquidity and a high reserve-requirement ratio (for banks' short-term lending), so we have an adequate buffer to tackle such challenges," Yi said. "We will take necessary measures to ensure that there is sufficient liquidity in the money market and to maintain stability."

    josephboris@chinadailyusa.com

    (China Daily 07/13/2013 page8)

    Today's Top News

    Editor's picks

    Most Viewed

    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
    欧美中文在线视频| 一本加勒比HEZYO无码资源网| 国产资源网中文最新版| 18禁超污无遮挡无码免费网站| 日韩亚洲不卡在线视频中文字幕在线观看| 中文字幕精品无码久久久久久3D日动漫| 国产精品xxxx国产喷水亚洲国产精品无码久久一区 | 少妇无码一区二区二三区| 日本一区二区三区精品中文字幕| 久久精品中文字幕无码绿巨人| 国产成人无码区免费内射一片色欲 | 中文字幕人妻无码一夲道| 日本中文字幕网站| 最好看的2018中文在线观看| 国产办公室秘书无码精品99| 亚洲不卡中文字幕无码| 亚洲欧洲中文日韩久久AV乱码| 中文字幕乱码人妻无码久久| 无码AV大香线蕉| 18禁黄无码高潮喷水乱伦| 无码超乳爆乳中文字幕久久| 久久久久亚洲AV无码观看| 亚洲av中文无码| 最新中文字幕在线观看| 欧美激情中文字幕| 天堂а√中文最新版地址在线| 久久久久久av无码免费看大片| 国产热の有码热の无码视频| 午夜人性色福利无码视频在线观看| 免费无码又爽又刺激网站直播 | 无码福利一区二区三区| a亚洲欧美中文日韩在线v日本| 久久99中文字幕久久| 亚洲色成人中文字幕网站| 亚洲欧美综合中文| 中文字幕人妻丝袜乱一区三区| 亚洲AV中文无码乱人伦| 中文字幕AV影片在线手机播放| 中文字幕在线观看亚洲视频| 中文字幕精品无码一区二区三区| 亚洲日韩v无码中文字幕|