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The Fed recently took to the market 1150 billion U.S. dollars capital injection, I hope down the mortgage and other consumer loan interest rates and stimulate consumption in order to revitalize the U.S. economy. Which the Federal Reserve will spend 300 billion U.S. dollars to purchase long-term Treasury bonds, as well as the additional 750 billion U.S. dollars spent to purchase mortgage-related securities. Dollar increase in the supply of such a result was depreciation of the dollar, resulting in a variety of raw materials, such as crude oil, steel, cotton prices, which will not only result in its domestic inflation, and will force the country to the United States currencies.
The United States, this policy, the Chinese textile industry and the impact of U.S. consumers are enormous. China Textile Industry Association vice president of the China Trade Promotion Council, executive branch of the textile industry, Zhang Kai, vice president of the view that a large number of additional United States currency, will ultimately hurt the Chinese textile industry’s economic interests. From the domestic point of view, due to the depreciation of the dollar, resulting in the appreciation of the renminbi, forcing the domestic textile export prices, exports to the United States will shrink further. This is the restoration of China’s textile industry is extremely detrimental to development. Because a long time, China’s textile, apparel exports to the United States has maintained a trade surplus, while the dollar’s devaluation will enable the textile industry of China’s accumulated over the years greatly reduced the advantages of investment in the textile industry will also be affected.
Conte, general supervisor of Beijing garment trade items enterprises from the issue of outlook of that homeland in alignment to boost the trade items of the textile commerce has frequently increased the trade items levy refund rate, and the devaluation of the dollar will dwindle to some span, the function of the principle, supplementing to the present textile adversities apparel trade items enterprises, business earnings will shrink due to the depreciation of the dollar, furthermore dwindle the competitiveness.
Faced with the certainly altering trade position, in alignment to decrease the risk of trade items to double-check that the earnings of trade items enterprises, China’s centered bank capital and the pressing need to signal a sequence of currency swap affirmations, which is the large-scale beneficiary of the plight faced by exporters in China. The economic urgent position in Asian nations, trade items have fallen, China’s centered bank at this time trade with several nearly neighboring nations to signal currency swap affirmations, to endow these nations to use yuan to buy Chinese goods and decrease the risk of fluctuations in the dollar and increase the district bilateral and multilateral trade recovery.
Central University of Finance and Economics banking study center Guo Tian Yong, controller of the outlook that the ongoing worldwide economic urgent position disperse of liquidity initiated by stress, granted the export-oriented finances directed by the Asian nations and the district, tremendous adversities in swapping scheme, thus, to reinforce local economic collaboration to sustain steadiness in economic markets, the avoidance of economic urgent position in an productive way. Currency swap affirmation on China’s trade items enterprise is a good news. Dollar liquidity as a outcome of international provide is taut, some of China’s swapping partners into the plight of trade town, the use of the steadiness of the RMB exchange swapping is against the economic urgent position in an productive way to help stimulate China’s merchandise exports.
Bank of China and Argentina marked a bilateral currency swap affirmation, in order that the surrounding localities of Fujian and trade items to Central and South American nations are substantially boosted by the export-oriented enterprises. And Central and South American nations who have trade relatives with the Fujian apparel merchant, said Chinese items more well liked in Central and South America, particularly in apparel, footwear, little electronics and other items, where there are many of sales. However, because of the worldwide economic urgent position, South American nations, numerous of the currency depreciation, the number of dollars has shrunk after the procurement of a large Central and South American nations to battle the trade edge, the latest enthusiasm to decrease procurement. Through the steadiness of the RMB exchange of multilateral trade affirmations, trade items enterprises can obtain localized currency-denominated borrowings, which can competently circumvent the exchange rate risk, smaller exchange rate cost, in order that both edges benefit.
At present, the world economic situation, there are more variables, the world is still excess production capacity of traditional industries, a new round of economic growth have not yet emerged, the market risks remain tight. As a result of increased protectionism in international trade, textiles, clothing trade friction will also increase. Developed countries, mainly in intellectual property protection, non-tariff barriers, anti-dumping as a weapon, etc., to increase efforts to protect the domestic market. In response, Kai Zhang stressed that China’s textile industry that exist in the economic development of deep-seated contradictions and problems are still quite prominent, institutional and structural barriers still exist, foreign trade and sustainable development capacity is not strong; export to low-cost, low price of the number of pattern of growth have yet to be fundamentally based change, or the establishment of China’s textile exports in labor-intensive, low level of technology, energy consumption basis. Therefore, in response to external pressures, we must change this situation as soon as possible in order to fundamentally enhance the ability to resist the foreign trade risk.
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