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
China
Home / China / Across America

After Fed's announcement on QE3, what's next?

By Zhang Yuwei | China Daily | Updated: 2013-07-02 11:31

After Fed's announcement on QE3, what's next?

When Federal Reserve head Ben Bernanke speaks, global markets react to his words immediately. It's no surprise that the world's largest economy sets the tone for global economic trends, but sometimes it can go too far and raise unnecessary anxiety among investors, including the Chinese.

The Fed chairman's recent remarks about the possible withdrawal of the stimulus efforts known as quantitative easing round 3 has rattled markets in Asia and Europe. Chinese shares reacted with a drastic slump, as the Shanghai Composite Index dropped in one day to its lowest point in nearly seven months.

Chris Martenson, founder of Peak Prosperity, a consulting firm, believes it was a "bad sign" the way the markets reacted.

"It reveals the extent to which market gains were dependent on money printing vs real growth and solid economic prospects," Martenson explained. "Hot money, best illustrated by hedge funds, now dominates international trading and financial market prices."

Martenson said this hot money is also leveraged, which stimulates excellent gains on the way up, and horrifying losses on the way down. "The Asian markets have not reacted particularly badly, given the recent volatility in global bond and equity markets," he said.

Whether tapering off the massive bond purchase program - or the QE 3 - is a reflection of the improved US economy throughout the past few years since the 2008 financial crisis or not, the fact that ending the stimulus leading to less consumption is for sure a concern for many investors, including the Chinese, which is currently the third largest importer of US goods.

China and other Asian investors had no choice but to react to Bernanke's comment on ending QE3, noted Daniel Hwang, chief foreign-exchange strategist at New York-based Gallant Capital Markets.

"The US economy is still turning the corner, but uncertainties remain about whether it can sustain positive economic performance," Hwang said.

"Ending QE3 essentially brings a stop to stimulus and the US still remains the largest economy in the world with most of its GDP coming from consumer spending. An end to stimulus would likely lead to higher savings and less consumer spending in the US, which is a concern for many foreign export-based economies in Asia," he added.

Bernanke, who is set to leave his post early next year, indicated at a policy meeting last month that later this year the central bank would start reducing its bond-buying program of buying $85 billion in Treasurys and mortgage-backed securities to lower long-term interest rates if the economy improves as expected and would end the program by mid-2014.

The notice posed a challenge for investors from emerging markets, which are set to contribute about 45 percent of global GDP growth in the coming decade, with China being a major driver of that growth.

QE3 introduces additional uncertainty to global financial markets and in its early phase, it meant a weaker dollar and additional capital flows to emerging economies, noted Guo Feng, a senior economist of the Asia Pacific department at the Washington-based Institute of International Finance (IIF).

"The exit of QE3 is accompanied by some retrenchment of foreign capital from emerging economies, especially with some Asian economies that depend on external financing most at risk," said Guo.

The interbank rate in China spiked at record highs in the past several weeks, noted the IIF economist, adding that China has more strict capital controls and structural balance of payments surplus as well as the limited role of foreign investor's participation in China's stock market - all of which lead to a smaller impact on China than on other emerging markets.

Despite the volatility in the markets, the US economic expansion is "evolving broadly as expected", which was reflected in IIF's forecast for about 2.2 percent GDP growth in 2013 and 2.6 percent in 2014, said Guo.

"As the economic recovery and the end of QE3 in the US coincide with the slowing economic activities in China, we see that some international capital flew out of China, which put some pressure on Yuan's depreciation," noted Guo.

Hwang predicts China will eventually follow the US path in transitioning from a manufacturing- based economy to a consumer-spending economy. "China will continue to support markets and be the engine of global growth and the US will remain an economic powerhouse, but with waning influence," he said.

But Hwang warns that the world's two largest economies need each other as "critical trading partners" and it's likely both nations will work as cohorts to keep the global economy afloat.

Polar icebreaker Snow Dragon arrives in Antarctic
Xi's vision on shared future for humanity
Air Force units explore new airspace
Premier Li urges information integration to serve the public
Dialogue links global political parties
Editor's picks
Beijing limits signs attached to top of buildings across city
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

    国产成人久久婷婷精品流白浆| www.99riav| 国产免费裸体视频| 国产自偷自偷免费一区| 日本黄网站色大片免费观看| 色综合手机在线| xxxx18hd亚洲hd捆绑| 亚洲国产精品影视| 天堂社区在线视频| 日本中文字幕网址| 青青草综合在线| 午夜一级免费视频| 国产又大又黄又粗的视频| 欧美亚洲日本一区二区三区| 青青草原网站在线观看| 超碰在线公开97| 黄色一级一级片| 欧美不卡在线播放| 日本大片免费看| 可以免费看的黄色网址| 成年人三级黄色片| 亚洲福利精品视频| 激情视频综合网| 欧美在线观看成人| 男人用嘴添女人下身免费视频| 国产日韩视频在线播放| 久久久国产欧美| 无码日韩人妻精品久久蜜桃| 国产精品秘入口18禁麻豆免会员| 国产一二三区在线播放| 成年丰满熟妇午夜免费视频| 天天综合中文字幕| 两性午夜免费视频| 亚洲一区二区图片| www.久久com| 天天综合天天添夜夜添狠狠添| 免费看黄色一级大片| 一级特黄性色生活片| 久久人妻精品白浆国产| 久久网站免费视频| 麻豆av免费在线| 日韩视频在线免费看| 亚洲人成色77777| 国产精品无码一本二本三本色| 国产又黄又大又粗视频| 国产主播在线看| 免费观看精品视频| 激情婷婷综合网| www日韩视频| 亚洲精品自拍网| www.超碰97.com| 一区二区三区四区毛片| 欧美国产日韩在线视频| 老司机av福利| 免费看日本黄色| av免费看网址| 妺妺窝人体色www在线小说| 漂亮人妻被中出中文字幕| www.欧美日本| 男人的天堂最新网址| 熟妇熟女乱妇乱女网站| 99久久久精品视频| 国产女大学生av| 九九视频精品在线观看| 小早川怜子一区二区三区| 欧美 国产 精品| 很污的网站在线观看| 99久久久无码国产精品6| 国产免费视频传媒| 特级黄色片视频| 丁香色欲久久久久久综合网| 黄色一级在线视频| 激情 小说 亚洲 图片: 伦| 欧美国产日韩在线视频 | 伊人五月天婷婷| 400部精品国偷自产在线观看| 免费一级淫片aaa片毛片a级| 99蜜桃臀久久久欧美精品网站| 色综合天天色综合| 久久天天东北熟女毛茸茸| 毛片在线视频播放| 日本中文字幕二区| 青青草综合在线| 草草草在线视频| 午夜影院免费版| 99精品在线免费视频| 超碰人人草人人| 蜜臀av色欲a片无码精品一区| 久草在在线视频| 欧美日韩中文字幕在线播放 | www.色欧美| 国产freexxxx性播放麻豆| chinese少妇国语对白| 艳母动漫在线免费观看| 91视频最新入口| 波多野结衣免费观看| 久久精品国产精品亚洲色婷婷| 精品综合久久久久| 国产免费观看高清视频| 日韩视频在线观看一区二区三区| 欧美午夜小视频| 夜夜夜夜夜夜操| 99精品人妻少妇一区二区| 国产大片一区二区三区| 色综合av综合无码综合网站| 老汉色影院首页| 日韩精品一区二区三区色欲av| 艳母动漫在线观看| 无限资源日本好片| 国产h视频在线播放| 日韩人妻精品一区二区三区| 成人中文字幕av| 久久综合久久网| 亚洲一级片免费观看| 日本男人操女人| 国产中文字幕二区| 99久久99久久精品| 午夜激情影院在线观看| 久草在在线视频| 无码精品a∨在线观看中文| 最近免费观看高清韩国日本大全| 日本久久精品一区二区| 国产精品va无码一区二区| 日韩视频一二三| 爱豆国产剧免费观看大全剧苏畅| 爱福利视频一区二区| 精品少妇人欧美激情在线观看| 91网址在线观看精品| 性生活免费在线观看| 久久国产成人精品国产成人亚洲| 国产精品igao激情视频| 亚洲天堂av一区二区| 少妇黄色一级片| 虎白女粉嫩尤物福利视频| 欧美 日韩 亚洲 一区| 久久亚洲国产成人精品无码区| 超碰在线免费av| 欧美丝袜在线观看| 99sesese| 在线观看国产中文字幕| av在线无限看| 午夜dv内射一区二区| 黑森林福利视频导航| 777米奇影视第四色| 欧美在线观看成人| 免费欧美一级视频| 97国产在线播放| 每日在线更新av| 97国产精东麻豆人妻电影 | 亚洲无在线观看| 高潮一区二区三区| gai在线观看免费高清| 超碰在线公开97| 色播五月综合网| youjizzxxxx18| 四季av一区二区三区| 国模私拍视频在线观看| 亚洲精品免费一区亚洲精品免费精品一区| 黄色手机在线视频| 不卡的在线视频| 色香蕉在线观看| 青青草综合在线| 99在线精品免费视频| 草草久久久无码国产专区| 欧美精品第三页| wwww.国产| 亚洲无在线观看| 今天免费高清在线观看国语| 成人午夜视频免费观看| 欧美成人三级在线视频| 国产淫片av片久久久久久| 亚洲福利精品视频| 色姑娘综合天天| www.日本在线视频| 国产免费黄色av| 国产又黄又猛又粗又爽的视频| 亚洲国产高清av| 日韩精品一区二区三区电影| av网站手机在线观看| 国产精品亚洲a| aaa一级黄色片| 免费网站永久免费观看| aa免费在线观看| 天堂av手机在线| 日本黄大片在线观看| 日韩av在线综合| 亚洲天堂网2018| 激情五月六月婷婷| 免费在线激情视频| 久久久久xxxx| 僵尸世界大战2 在线播放| 青青青国产在线视频| 91香蕉视频网址| 精品无码一区二区三区在线| 午夜精品在线免费观看| www.黄色网址.com| 免费毛片小视频| 捷克做爰xxxⅹ性视频| 精品无码国模私拍视频| 四季av一区二区三区|