久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

US EUROPE AFRICA ASIA 中文
Business / View

China's future is everyone's future

By Giles Chance (China Daily) Updated: 2015-09-21 09:51

China's future is everyone's future

Rest of world needs to reach the same level of understanding to share stability and prosperity

On Aug 11, global financial markets were stunned when the People's Bank of China, the central bank, announced without warning that the yuan would be allowed to find its own market level against the dollar and other major currencies. The yuan, which since 2012 had strengthened against the US dollar, fell by more than 3 percent during the course of several days, before stabilizing.

Financial reporting around the world was full of the event. Most commentators believed that a fall in the yuan's value, which could help promote Chinese exports, displayed the government's desperation to stop the slide in its economy.

For them, it was a sign of how bad things were getting in China as the government tried to shift demand from investment spending to consumption, allowing the economy to slow in the process. Markets slid around the world in response to lower expectations of Chinese growth, with the Dow Jones and European stock indices each falling by nearly 10 percent in August.

A few weeks later, we can see more clearly that the real importance of China's currency announcement is to underline China's enormous significance in the daily lives of people around the world. The only other factor today with a comparable market influence to China's currency readjustment is the US Federal Reserve's decision on when to raise interest rates. This in turn will have a knock-on effect around the world because of the dollar's role as the world currency.

In fact, China's global economic importance today may even be greater than that of the US, because the Chinese economy is more open to world trade. China's twin roles, as the global processing center for exports to the developed world, and as the major world buyer of most types of commodities, from copper and cotton to oil and iron ore, give it great economic significance.

In 2014, the combined total of Chinese imports and exports was 41 percent of the Chinese economy. The comparable 2014 figure for the US was 30 percent.

One thing we learned from the strong market reaction to China's currency announcement was that what happens in China really does matter to everyone else. We live in an increasingly interdependent and interrelated world.

This effect is magnified every day by constant technological improvements which bring people closer together. We see this today in the unexpected arrival of refugees in Europe, in huge numbers, from North Africa and the Middle East, particularly from Syria. In such an interconnected world, a growing China will affect lives in the West more and more, and vice versa.

Yet most people who were born before 1985 still live in the relatively unconnected world of 20 or 30 years ago, when the Internet was unknown, and smartphones and low-cost international air travel were unthought of. Since 2000, Chinese real estate has risen in value by a factor of 5 or 10 times in many cities. As a result of this, and the success of the Chinese economy, in a few years, a whole generation based in eastern and parts of central China has progressed from humble economic circumstances to affluence.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 99在线观看视频 | 国产成年女一区二区三区 | 成人午夜影院在线观看 | 手机亚洲第一页 | 曰本毛片va看到爽不卡 | 成年免费大片黄在线观看一 | 国产一级做a爰片在线看免费 | 国产午夜a理论毛片在线影院 | 中美日韩在线网免费毛片视频 | 欧美精品一二区 | 成年男女免费视频网站播放 | 欧美一区二区视频在线观看 | 久久久国产99久久国产久 | 韩国美女爽快一级毛片黄 | 国产亚洲欧美日韩在线观看不卡 | 亚洲精品免费视频 | 亚洲精品国产手机 | 日韩a级毛片免费视频 | 三级毛片三级毛片 | 泰国一级毛片aaa下面毛多 | 欧美日韩在线视频播放 | 一级视频在线 | 成人精品视频一区二区在线 | 欧美另类videosgrstv变态 欧美另类高清xxxxx | 成人免费看| 亚洲欧美视屏 | 亚洲久草 | 欧美成人aaa大片 | 杨幂国产精品福利在线观看 | 日韩在线观看视频网站 | 国产精品视频视频久久 | 91国内精品久久久久怡红院 | 亚洲精品国产三级在线观看 | 欧美啪啪一级毛片 | 99精品视频在线视频免费观看 | 色偷偷888欧美精品久久久 | 中国做爰国产精品视频 | 精品欧美一区二区在线看片 | 美女大片高清特黄a大片 | 亚洲欧洲日韩综合色天使不卡 | 日韩激情无码免费毛片 |