Đòn mới của Mỹ chăng, hơn nghìn tỷ của TQ sắp thành giấy lộn à ..huhu
(VOV) - Theo các học giả Trung Quốc, quyết định của Cục dự trữ Liên bang Mỹ sẽ khiến đồng USD bị mất giá và hiệu quả kinh tế của việc đầu tư vào công trái Mỹ bị giảm
Trung Quốc đã bày tỏ lo ngại trước việc Cục dự trữ Liên bang Mỹ mới đây tuyên bố trong vòng nửa năm tới sẽ mua vào 300 tỷ USD công trái dài hạn của Mỹ, nhằm kích thích kinh tế trong nước.
Điều này tác động trực tiếp đến lợi ích của Trung Quốc – nước đang nắm giữ lượng công trái Mỹ nhiều nhất thế giới với 740 tỷ USD, chiếm 7% trong tổng nợ nước ngoài của Mỹ.
Ông Lý Hiểu Trung, một học giả Trung Quốc, cho rằng, nếu bán bớt số công trái Mỹ vào thời điểm này, Trung Quốc chắc chắn sẽ bị tổn thất. Nhưng nếu tăng mua công trái Mỹ, những rủi ro không xác định sẽ lại tăng lên.
Ngày 19/3, người phát ngôn Bộ Ngoại giao Trung Quốc đã nhắc lại thông điệp đã được Thủ tướng Ôn Gia Bảo chuyển tới phía Mỹ cách đây một tuần rằng: Trung Quốc mong muốn phía Mỹ đảm bảo an toàn cho lượng tài sản Trung Quốc đầu tư vào thị trường tài chính Mỹ./.
------------
March 24, 2009
China Urges New Money Reserve to Replace Dollar
By DAVID BARBOZA
SHANGHAI — In another indication that China is growing increasingly concerned about holding huge dollar reserves, the head of its central bank has called for the eventual creation of a new international currency reserve to replace the dollar.
In a paper released Monday, Zhou Xiaochuan, governor of the People’s Bank of China, said a new currency reserve system controlled by the International Monetary Fund could prove more stable and economically viable.
A new system is necessary, he said, because the global economic crisis has revealed the “inherent vulnerabilities and systemic risks in the existing international monetary system.”
While few analysts believe that the dollar will be replaced as the world’s dominant foreign exchange reserve anytime soon, the proposal suggests that China is preparing to assume a more influential role in the world. Russia recently made a similar proposal.
China’s bold idea, released more than a week before world leaders are to gather in London for an economic summit meeting, also indicates that Beijing is worried that its huge dollar-denominated foreign reserves could lose significant value in coming years.
China has the world’s largest foreign exchange reserves, valued at nearly $2 trillion, with more than half of those holdings estimated to be made up of United States Treasuries and other dollar-denominated bonds.
On March 13, China’s prime minister, Wen Jiabao, said he was concerned about the safety of those assets, particularly because huge economic stimulus plans could lead to soaring deficits in the United States, which could sink the dollar’s value.
Should China lose its appetite for Treasuries, the United States’ borrowing costs could rise, making it more costly for Washington to carry out economic stimulus packages and for Americans to pay off their mortgages.
Nicholas Lardy, an economist and China specialist at the Peterson Institute in Washington, said that through its proposal, China was indicating that the dollar’s long dominance was unfair, allowing the United States to run huge deficits by borrowing from abroad, and that the risks to holders of Treasuries were growing.
“Chinese are quite concerned that the large U.S. government deficits will eventually lead to inflation, which will erode the purchasing power of the dollar-denominated financial assets which they hold,” Mr. Lardy said. “It is a legitimate concern.”
The timing of the Chinese announcement, analysts said, could also be aimed at giving Beijing more leverage to negotiate with the United States and other nations in London on trade and on proposals about how to stabilize the global economy.
But China is cautious when it discusses buying or selling Treasuries, for fear of sending a signal that could significantly affect currency markets. So in a separate announcement on Monday, China said it would continue to buy Treasuries, something the United States has encouraged.
In Mr. Zhou’s essay, published in English and Chinese on the central bank’s Web site, he said the international community should consider expanding the International Monetary Fund’s Special Drawing Rights.
Such a proposal has been suggested before by developing countries. But the United States has always been wary that this could be inflationary and affect the central role of the dollar.
Special Drawing Rights are based on the value of the dollar, euro, pound and yen, but have been little used except as an accounting entry by international organizations.
Mr. Zhou said the goal of reforming the international monetary system was to “create an international reserve currency that is disconnected from individual nations and is able to remain stable in the long run.”
(VOV) - Theo các học giả Trung Quốc, quyết định của Cục dự trữ Liên bang Mỹ sẽ khiến đồng USD bị mất giá và hiệu quả kinh tế của việc đầu tư vào công trái Mỹ bị giảm
Trung Quốc đã bày tỏ lo ngại trước việc Cục dự trữ Liên bang Mỹ mới đây tuyên bố trong vòng nửa năm tới sẽ mua vào 300 tỷ USD công trái dài hạn của Mỹ, nhằm kích thích kinh tế trong nước.
Điều này tác động trực tiếp đến lợi ích của Trung Quốc – nước đang nắm giữ lượng công trái Mỹ nhiều nhất thế giới với 740 tỷ USD, chiếm 7% trong tổng nợ nước ngoài của Mỹ.
Ông Lý Hiểu Trung, một học giả Trung Quốc, cho rằng, nếu bán bớt số công trái Mỹ vào thời điểm này, Trung Quốc chắc chắn sẽ bị tổn thất. Nhưng nếu tăng mua công trái Mỹ, những rủi ro không xác định sẽ lại tăng lên.
Ngày 19/3, người phát ngôn Bộ Ngoại giao Trung Quốc đã nhắc lại thông điệp đã được Thủ tướng Ôn Gia Bảo chuyển tới phía Mỹ cách đây một tuần rằng: Trung Quốc mong muốn phía Mỹ đảm bảo an toàn cho lượng tài sản Trung Quốc đầu tư vào thị trường tài chính Mỹ./.
------------
March 24, 2009
China Urges New Money Reserve to Replace Dollar
By DAVID BARBOZA
SHANGHAI — In another indication that China is growing increasingly concerned about holding huge dollar reserves, the head of its central bank has called for the eventual creation of a new international currency reserve to replace the dollar.
In a paper released Monday, Zhou Xiaochuan, governor of the People’s Bank of China, said a new currency reserve system controlled by the International Monetary Fund could prove more stable and economically viable.
A new system is necessary, he said, because the global economic crisis has revealed the “inherent vulnerabilities and systemic risks in the existing international monetary system.”
While few analysts believe that the dollar will be replaced as the world’s dominant foreign exchange reserve anytime soon, the proposal suggests that China is preparing to assume a more influential role in the world. Russia recently made a similar proposal.
China’s bold idea, released more than a week before world leaders are to gather in London for an economic summit meeting, also indicates that Beijing is worried that its huge dollar-denominated foreign reserves could lose significant value in coming years.
China has the world’s largest foreign exchange reserves, valued at nearly $2 trillion, with more than half of those holdings estimated to be made up of United States Treasuries and other dollar-denominated bonds.
On March 13, China’s prime minister, Wen Jiabao, said he was concerned about the safety of those assets, particularly because huge economic stimulus plans could lead to soaring deficits in the United States, which could sink the dollar’s value.
Should China lose its appetite for Treasuries, the United States’ borrowing costs could rise, making it more costly for Washington to carry out economic stimulus packages and for Americans to pay off their mortgages.
Nicholas Lardy, an economist and China specialist at the Peterson Institute in Washington, said that through its proposal, China was indicating that the dollar’s long dominance was unfair, allowing the United States to run huge deficits by borrowing from abroad, and that the risks to holders of Treasuries were growing.
“Chinese are quite concerned that the large U.S. government deficits will eventually lead to inflation, which will erode the purchasing power of the dollar-denominated financial assets which they hold,” Mr. Lardy said. “It is a legitimate concern.”
The timing of the Chinese announcement, analysts said, could also be aimed at giving Beijing more leverage to negotiate with the United States and other nations in London on trade and on proposals about how to stabilize the global economy.
But China is cautious when it discusses buying or selling Treasuries, for fear of sending a signal that could significantly affect currency markets. So in a separate announcement on Monday, China said it would continue to buy Treasuries, something the United States has encouraged.
In Mr. Zhou’s essay, published in English and Chinese on the central bank’s Web site, he said the international community should consider expanding the International Monetary Fund’s Special Drawing Rights.
Such a proposal has been suggested before by developing countries. But the United States has always been wary that this could be inflationary and affect the central role of the dollar.
Special Drawing Rights are based on the value of the dollar, euro, pound and yen, but have been little used except as an accounting entry by international organizations.
Mr. Zhou said the goal of reforming the international monetary system was to “create an international reserve currency that is disconnected from individual nations and is able to remain stable in the long run.”
