Been rumors swirling of the New Beetle has finally has a new message, this replacement has a new Beetle shape of the road test in Europe, the spy was exposed from the map, the new car's styling still continues cash car rounded design elements, but the details of the design is more sharp, dynamic, sharp body lines a bit tough to get the Beatles. It is reported that this new generation will be the fastest Beetle in March of this year's Geneva Motor Show, time to market will be in 2011 years.
the New Beetle's shape from the 2005 concept car styling, the overall body shape is still similar vehicle with cash, round is its main theme, cute is the main pursuit, but the new car made changes to some lines, such as the former face shape of the engine cover, rear side windows and roof shape, the more the application of straight lines, making the car look even more tough than the New Beetle cash. In other details, before and after the round headlights, bumpers and other classic design simple and honest are retained, reduced arc shape makes the roof after a new generation of the new Beetle looks like a slightly flattened cars and cash After elongated look. According to overseas media, the New Beetle Golf GTI is now also available on the
cash terms compared to the interior design of the New Beetle more pursuit of layering, is expected to center console will use the wave of radical design, but in the current model home on the large dial and all round air conditioning vent will be retained. Power, the new car will be from 78kw (106 hp) 1.2L to 157kw (213 hp) gasoline engine 2.0TFSI variety of options between, and diesel will also have from 78kw (106 hp) 1.6 TDI to 104kw (142 hp) 2.0TDI variety of engine options.
Tuesday, February 8, 2011
Saturday, January 29, 2011
Central parity of 6.5876 yuan against the U.S. dollar high three consecutive trading days
From the China Foreign Exchange Trade Center's latest data show that on Jan. 27 reported central parity rate of RMB 6.5876 to the dollar once again rewrite the record high since the exchange rate reform.
PBC authorized the China Foreign Exchange Trade Center, January 27, 2011 RMB exchange rate for the interbank foreign exchange market: 1 U.S. dollar against 6.5876 yuan, 1 euro for 9.0316 yuan, 100 yen of 8.0239 yuan, a dollar of 0.84636 yuan, 1 pound of 10.4937 yuan, 1 yuan of 0.46335 ringgit, one yuan for 4.5096 Russian ruble.
Do panic! The main force is still diving? Stuck with the stock is likely to have saved! March the stock market changes are likely to occur? Tug of war behind the hidden financial trends!
The previous session, the RMB against the U.S. dollar central parity rate reported 6.5878.
Barack Obama on Wednesday State of the Union, once the market risk appetite has improved. Federal Reserve kept interest rates on Thursday morning and the second round of the quantitative easing program unchanged, in line with market expectations. In this context, the international foreign exchange markets remain weak U.S. dollar adjustment, while central parity of RMB against the U.S. dollar hit a new high for a third day.
PBC authorized the China Foreign Exchange Trade Center, January 27, 2011 RMB exchange rate for the interbank foreign exchange market: 1 U.S. dollar against 6.5876 yuan, 1 euro for 9.0316 yuan, 100 yen of 8.0239 yuan, a dollar of 0.84636 yuan, 1 pound of 10.4937 yuan, 1 yuan of 0.46335 ringgit, one yuan for 4.5096 Russian ruble.
Do panic! The main force is still diving? Stuck with the stock is likely to have saved! March the stock market changes are likely to occur? Tug of war behind the hidden financial trends!
The previous session, the RMB against the U.S. dollar central parity rate reported 6.5878.
Barack Obama on Wednesday State of the Union, once the market risk appetite has improved. Federal Reserve kept interest rates on Thursday morning and the second round of the quantitative easing program unchanged, in line with market expectations. In this context, the international foreign exchange markets remain weak U.S. dollar adjustment, while central parity of RMB against the U.S. dollar hit a new high for a third day.
Wednesday, January 26, 2011
Comments tragic animal Wan-sheng Wang Feifei phase masterpiece
Wang Feifei Wang Feifei Animal welfare Animal welfare postcards postcards EP Wang Feifei public record is very small. What is the reason I do not know the way of such an important public areas in the development of pop music. Animal Protection of such a mankind, the world focus on promoting the public welfare in the subject matter actually as no one is interested. Fortunately, the end of 2010, artist Wang Feifei launched an animal theme masterpiece
With the This time the launch of the new single Trip-hop style as a work, specific animal scene.
music sounded the moment, will emerge out of casual sight in order to obtain ivory poachers have been killed by elephants in groups wreckage to get tiger, tiger and the tiger by unscrupulous hunters to kill the body , for the collection of bile and waiting to be caged black bear killing, in order to obtain fur seals were skinned alive, and was cut off shark fins and the tragic death of ... ... a lot of pictures form the tragic phase of animal million students.
music, although not the slightest help from the sound made by animals, but was solid in our hearts to hear from the elephant's scream and whine from the tiger, bear the grief from complain, moan from the seals and the cry from the sharks ... ... When you hear the cries of Does not matter who refuse to have a tiger tapestries, tiger bone, tiger health care system? You choose who would give up drugs of unknown efficacy of bear bile? Will refuse to have those flashy fur coat? Would give up eating shark's fin that does not itch, hurt Conquers? If the answer is yes,
you hear that you see, moved, so that you save and lend a helping hand to change the tragic status quo. Because, after all, resulting in the sound and picture, is humanity itself ... ...
With the This time the launch of the new single Trip-hop style as a work, specific animal scene.
music sounded the moment, will emerge out of casual sight in order to obtain ivory poachers have been killed by elephants in groups wreckage to get tiger, tiger and the tiger by unscrupulous hunters to kill the body , for the collection of bile and waiting to be caged black bear killing, in order to obtain fur seals were skinned alive, and was cut off shark fins and the tragic death of ... ... a lot of pictures form the tragic phase of animal million students.
music, although not the slightest help from the sound made by animals, but was solid in our hearts to hear from the elephant's scream and whine from the tiger, bear the grief from complain, moan from the seals and the cry from the sharks ... ... When you hear the cries of Does not matter who refuse to have a tiger tapestries, tiger bone, tiger health care system? You choose who would give up drugs of unknown efficacy of bear bile? Will refuse to have those flashy fur coat? Would give up eating shark's fin that does not itch, hurt Conquers? If the answer is yes,
you hear that you see, moved, so that you save and lend a helping hand to change the tragic status quo. Because, after all, resulting in the sound and picture, is humanity itself ... ...
Tuesday, January 25, 2011
A stock spring still far away
Macroeconomic more relaxed
in January will be announced in late December 2010 and fourth quarter economic data, including data on behalf of CPI inflation is expected to be 5.1% the previous month highs, 1,2 months of economic data will be combined in the March announcement, so within 2 months of inflationary pressures and monetary tightening pressure is not great. From the Ministry of Commerce, Ministry of Agriculture, agricultural price index published by the circumstances, the retail price index of agricultural products has been a continuous decline in wholesale prices of agricultural products has declined, indicating that the national grain supply to the governor, the mayor basket price control measures such as the initial effect. In addition, data from the base point of view of inflation, CPI since December 2009 from the sharp rise in CPI in December 2010 therefore will be reduced year on year. With the decline in CPI, the central task of macroeconomic regulation and control will reduce the next step will not control inflation as the paramount task for macroeconomic news is good news.
the choice of investment strategy, in the shock of January, in the short-term investors can buy low, sell high toss of the band to take action strategy, and the overall market in 2011 because of the good, the long-term investors may be low in each callback may gradually increase the position to meet the upcoming spring market.
January, the international situation has improved
from the A-share market's history, in addition to Jidushenhan year bear market, but each spring, there will be a wave of large or small market, by investors known as the 2011 Spring Festival is approaching, the stock market will give investors a surprise?
in accordance with the practice in previous years, the central bank may be in the New Year work meeting held after the first. Year is expected to target new lending, may be more around 7.5 trillion yuan last year, the scale of decline. In addition, promote the establishment of new credit management system, in the
market will be affected accordingly, banking, insurance and other heavyweights may also be repeated, combined with close to Chinese New Year holiday, the funds need to hedge, while statistics from the Ministry of Agriculture, the recent price and have a tendency to accelerate the rise again, it is estimated that in January in Shanghai and Shenzhen will once again face the shock after the half.
probability of maintaining the status quo of global liquidity large capital flows may change. From the developed economies, the U.S. economy has shown a more clear signs of recovery, the implementation of further reducing the need for quantitative easing, due to present its domestic inflation is still low, so the future monetary policy, the larger the probability of maintaining the status quo; Japan In the absence of substantive results before the Therefore, the medium to long term to maintain the current global liquidity situation easing the probability for large events, however, boosted by the U.S. economic recovery and the early capital flows to emerging markets continue to make these emerging countries have the domestic asset prices have increased more significantly, So capital flows to emerging markets to continue the momentum decreases, the possibility of future investment to increase.
2010 年 12 months, the Shanghai and Shenzhen under the pressure of funds, tumbled present trend in the 12 months most of the basic tape In the 2750-2950 point range bound. 2010 the broader market rebounded in late day, down 12 points the entire month Shanghai, Shenzhen City, up 122 points. Just before the end of the market that the December rate hike possible, without, Dec. 25 raised the benchmark interest rate the central bank suddenly announced 0.25%. The increase in deposit reserve ratio before, institutions such as making year-end market funds face extremely nervous. In this context, the market finally bent over the end of the trend appears Powei to close at 2808 points. As to the reasons for settlement by the end of the market, institutional funds tightened; the same time, by the end of the last month to stop issuing the provisions of fixed asset loans, lending market interest rates rose sharply, making the short-term funds in the market is facing greater pressure. Plate from the industry point of view, non-ferrous metals, mining, building materials, ferrous metals, real estate and home appliances industries rose, pharmaceutical biotechnology, food and beverage, delivery equipment, light manufacturing and apparel and textile industry decline in the forefront of the column.
2010 despite years of A-share market hit the most number of stocks, but its decline has become a large investor painful experience. This situation will have changed the beginning of 2011, investors could usher in the spring of profit?
expected in January loose global and domestic liquidity situation will continue, domestic monetary policy tightening is still the keynote, but the intensity should be higher than in December reduced.
the December Market turnover decreased 4 percent compared with November, the SFC 81 industries over 9 months into the net outflow of funds. But when the downturn in the market, institutional financial transactions remain active, particularly in December, continued high proportion of institutional trading, and hit a new high over the past year. In the broader market remained relatively stable situation, institutional trading accounted for the increase means that the agency is actively transfer positions convertible funds, and individual investors wait and see. Great single track the flow of funds, we find non-ferrous metal smelting and rolling processing industry and coal mining industry to become the main focus of funds into the plate.
money supply still tight
December painful to me
expected to fly
institutions in order to start the New Year and the layout of the harvest, in the context of appreciation of the renminbi, the international venture capital will once again favor the emerging capital markets such as China, while the broader market dynamic price-earnings ratio is currently at historically low levels and, Therefore, among the release of suppressed emotions, the broader market rally will appear shortly.
from the demand side in terms of funds by the end of Year 12 IPO of rapid expansion of the funding needs of early January produced a certain pressure. Pressure from the additional financing is still greater, from the historical data, additional large-scale projects implemented at the beginning and end of the high probability, so in January of the additional pressure may still not optimistic. Placement is expected in January smaller scale on capital requirements. January lifting of the ban is about 280 billion market value, is December 1 / 2, had little effect on the financial side.
Therefore, from a financial point of view the demand side, demand for funds in January and December may be the same as the scale of demand, remain high, there is some pressure on the market.
However, the central bank, the Commission, China Banking Regulatory Commission, China Insurance Regulatory Commission's 2011 work meeting is expected to be held this month in succession, the 2011 blockbuster meeting will set the tone of financial supervision, a series of market highly concerned about the regulatory trends emerge in the next two weeks is expected to introduce a range of financial regulatory arrangements for the
the liquidity squeeze is expected to be eased, and external market have stimulated higher, A shares celebrate the grand opening in 2011. Analysts said the data will provide annual disclosure of the overall market valuation support in January, while the short-term funds the banking system faces tight credit mitigation and recovery of investment in fixed assets, December CPI will fall and so the marginal improvement of market sentiment and provide a rebound force.
capital supply from the point of view, with the easing of inter-Korean conflict, risk aversion makes the decline in foreign investors, the recent capital inflows into China by overseas funds were net re- into the state of investor sentiment somewhat stable, the board announced the company's average daily number of new A share accounts and securities accounts active degree of rebound. December 2010 the number of new issues of the Fund is only 10 for the November 1 / 3, but in January the number of new rapid increase in the Fund is expected to eliminate the future situation of insufficient supply of new money. Therefore, the overall situation, the supply of funds, short-term negative factors will disappear, and long-term trend in money supply has not changed, the supply side of funds in January is expected to be slightly better at 12 months.
in January will be announced in late December 2010 and fourth quarter economic data, including data on behalf of CPI inflation is expected to be 5.1% the previous month highs, 1,2 months of economic data will be combined in the March announcement, so within 2 months of inflationary pressures and monetary tightening pressure is not great. From the Ministry of Commerce, Ministry of Agriculture, agricultural price index published by the circumstances, the retail price index of agricultural products has been a continuous decline in wholesale prices of agricultural products has declined, indicating that the national grain supply to the governor, the mayor basket price control measures such as the initial effect. In addition, data from the base point of view of inflation, CPI since December 2009 from the sharp rise in CPI in December 2010 therefore will be reduced year on year. With the decline in CPI, the central task of macroeconomic regulation and control will reduce the next step will not control inflation as the paramount task for macroeconomic news is good news.
the choice of investment strategy, in the shock of January, in the short-term investors can buy low, sell high toss of the band to take action strategy, and the overall market in 2011 because of the good, the long-term investors may be low in each callback may gradually increase the position to meet the upcoming spring market.
January, the international situation has improved
from the A-share market's history, in addition to Jidushenhan year bear market, but each spring, there will be a wave of large or small market, by investors known as the 2011 Spring Festival is approaching, the stock market will give investors a surprise?
in accordance with the practice in previous years, the central bank may be in the New Year work meeting held after the first. Year is expected to target new lending, may be more around 7.5 trillion yuan last year, the scale of decline. In addition, promote the establishment of new credit management system, in the
market will be affected accordingly, banking, insurance and other heavyweights may also be repeated, combined with close to Chinese New Year holiday, the funds need to hedge, while statistics from the Ministry of Agriculture, the recent price and have a tendency to accelerate the rise again, it is estimated that in January in Shanghai and Shenzhen will once again face the shock after the half.
probability of maintaining the status quo of global liquidity large capital flows may change. From the developed economies, the U.S. economy has shown a more clear signs of recovery, the implementation of further reducing the need for quantitative easing, due to present its domestic inflation is still low, so the future monetary policy, the larger the probability of maintaining the status quo; Japan In the absence of substantive results before the Therefore, the medium to long term to maintain the current global liquidity situation easing the probability for large events, however, boosted by the U.S. economic recovery and the early capital flows to emerging markets continue to make these emerging countries have the domestic asset prices have increased more significantly, So capital flows to emerging markets to continue the momentum decreases, the possibility of future investment to increase.
2010 年 12 months, the Shanghai and Shenzhen under the pressure of funds, tumbled present trend in the 12 months most of the basic tape In the 2750-2950 point range bound. 2010 the broader market rebounded in late day, down 12 points the entire month Shanghai, Shenzhen City, up 122 points. Just before the end of the market that the December rate hike possible, without, Dec. 25 raised the benchmark interest rate the central bank suddenly announced 0.25%. The increase in deposit reserve ratio before, institutions such as making year-end market funds face extremely nervous. In this context, the market finally bent over the end of the trend appears Powei to close at 2808 points. As to the reasons for settlement by the end of the market, institutional funds tightened; the same time, by the end of the last month to stop issuing the provisions of fixed asset loans, lending market interest rates rose sharply, making the short-term funds in the market is facing greater pressure. Plate from the industry point of view, non-ferrous metals, mining, building materials, ferrous metals, real estate and home appliances industries rose, pharmaceutical biotechnology, food and beverage, delivery equipment, light manufacturing and apparel and textile industry decline in the forefront of the column.
2010 despite years of A-share market hit the most number of stocks, but its decline has become a large investor painful experience. This situation will have changed the beginning of 2011, investors could usher in the spring of profit?
expected in January loose global and domestic liquidity situation will continue, domestic monetary policy tightening is still the keynote, but the intensity should be higher than in December reduced.
the December Market turnover decreased 4 percent compared with November, the SFC 81 industries over 9 months into the net outflow of funds. But when the downturn in the market, institutional financial transactions remain active, particularly in December, continued high proportion of institutional trading, and hit a new high over the past year. In the broader market remained relatively stable situation, institutional trading accounted for the increase means that the agency is actively transfer positions convertible funds, and individual investors wait and see. Great single track the flow of funds, we find non-ferrous metal smelting and rolling processing industry and coal mining industry to become the main focus of funds into the plate.
money supply still tight
December painful to me
expected to fly
institutions in order to start the New Year and the layout of the harvest, in the context of appreciation of the renminbi, the international venture capital will once again favor the emerging capital markets such as China, while the broader market dynamic price-earnings ratio is currently at historically low levels and, Therefore, among the release of suppressed emotions, the broader market rally will appear shortly.
from the demand side in terms of funds by the end of Year 12 IPO of rapid expansion of the funding needs of early January produced a certain pressure. Pressure from the additional financing is still greater, from the historical data, additional large-scale projects implemented at the beginning and end of the high probability, so in January of the additional pressure may still not optimistic. Placement is expected in January smaller scale on capital requirements. January lifting of the ban is about 280 billion market value, is December 1 / 2, had little effect on the financial side.
Therefore, from a financial point of view the demand side, demand for funds in January and December may be the same as the scale of demand, remain high, there is some pressure on the market.
However, the central bank, the Commission, China Banking Regulatory Commission, China Insurance Regulatory Commission's 2011 work meeting is expected to be held this month in succession, the 2011 blockbuster meeting will set the tone of financial supervision, a series of market highly concerned about the regulatory trends emerge in the next two weeks is expected to introduce a range of financial regulatory arrangements for the
the liquidity squeeze is expected to be eased, and external market have stimulated higher, A shares celebrate the grand opening in 2011. Analysts said the data will provide annual disclosure of the overall market valuation support in January, while the short-term funds the banking system faces tight credit mitigation and recovery of investment in fixed assets, December CPI will fall and so the marginal improvement of market sentiment and provide a rebound force.
capital supply from the point of view, with the easing of inter-Korean conflict, risk aversion makes the decline in foreign investors, the recent capital inflows into China by overseas funds were net re- into the state of investor sentiment somewhat stable, the board announced the company's average daily number of new A share accounts and securities accounts active degree of rebound. December 2010 the number of new issues of the Fund is only 10 for the November 1 / 3, but in January the number of new rapid increase in the Fund is expected to eliminate the future situation of insufficient supply of new money. Therefore, the overall situation, the supply of funds, short-term negative factors will disappear, and long-term trend in money supply has not changed, the supply side of funds in January is expected to be slightly better at 12 months.
Li Xiaopeng not to pay more attention to the results of the process of exchange that still persist in the Asian Games play
News reporter Ma Xiao Nan Men are from the bottom of Yongchuan Yongchuan zero temperatures although 2 ℃, but also some of snowflakes falling from time to time, dropped to the ground it into water, the plot on the pitch, green grass then becomes slippery. This year's four-nation women's football tournament will be launched here this afternoon, will face Chinese team ranked first, fourth and ninth in the United States, Sweden and the Canadian team. The Women's World Cup held in Germany, as World Cup matches in an international A-level, the United States, Sweden and Canada have sent the first team competition, the face of such strong opponents, the Chinese women's football coach Li Xiaopeng frankly, the results will not be forced more attention to this rare opportunity to bring the process.
miss this year as Women's World Cup, Si Guosai for the Chinese team is a rare opportunity to compete with the top teams, Li Xiaopeng said the Siguo Sai, the results can not force, but will attach importance to the process of the game . When the Games do not play by sticking to the Li Xiaopeng, told reporters in this Siguo Sai, it still will not hang on, hang on to the players can not exercise, or to exchange that. After the Asian Games women's football coaches to join the mix and striker Li Jinyu Hao Wei training training in the backcourt, as well as recruit new people into the group are Li Xiaopeng on the Si Guosai to test and study focus. Li Xiaopeng said at the press conference, to their period is May, then in May will pay more attention to results, prior to continue running team.
Yongchuan the day before the Chinese team arrived in the afternoon will be at the Chongqing University of Arts for the recovery of the training. National Women's generals arrived in Chongqing, will experience the mountain's freezing rain, and close to 0 ℃ low temperature. At yesterday's conference, head coach Li Xiaopeng did not even wear a coat as he says, Chongqing, okay, not cold. As everyone knows, he asked the girls the day before yesterday, and women's football the most, and that is Such low temperatures so that our visitors really depressed one, it came last week in Brazil, Canada Yongchuan planes drugs to deduct a few days ago with the help of the organizing committee had to go to Chongqing city purchased the largest pharmacy a large number of cold medicine.
the United States will play Sweden in the World Cup and the same group, while the Chinese team and the Korean team in the same group as the simulation object, Cox, Aolei Li, Peng Lam, Box and other veteran were played, and is well-known striker did not travel hatchetman Warm Bach came to Chongqing, the U.S. head coach Pia said that if the Si Guosai can win in Sweden, will give an edge on the morale of the World Cup.
miss this year as Women's World Cup, Si Guosai for the Chinese team is a rare opportunity to compete with the top teams, Li Xiaopeng said the Siguo Sai, the results can not force, but will attach importance to the process of the game . When the Games do not play by sticking to the Li Xiaopeng, told reporters in this Siguo Sai, it still will not hang on, hang on to the players can not exercise, or to exchange that. After the Asian Games women's football coaches to join the mix and striker Li Jinyu Hao Wei training training in the backcourt, as well as recruit new people into the group are Li Xiaopeng on the Si Guosai to test and study focus. Li Xiaopeng said at the press conference, to their period is May, then in May will pay more attention to results, prior to continue running team.
Yongchuan the day before the Chinese team arrived in the afternoon will be at the Chongqing University of Arts for the recovery of the training. National Women's generals arrived in Chongqing, will experience the mountain's freezing rain, and close to 0 ℃ low temperature. At yesterday's conference, head coach Li Xiaopeng did not even wear a coat as he says, Chongqing, okay, not cold. As everyone knows, he asked the girls the day before yesterday, and women's football the most, and that is Such low temperatures so that our visitors really depressed one, it came last week in Brazil, Canada Yongchuan planes drugs to deduct a few days ago with the help of the organizing committee had to go to Chongqing city purchased the largest pharmacy a large number of cold medicine.
the United States will play Sweden in the World Cup and the same group, while the Chinese team and the Korean team in the same group as the simulation object, Cox, Aolei Li, Peng Lam, Box and other veteran were played, and is well-known striker did not travel hatchetman Warm Bach came to Chongqing, the U.S. head coach Pia said that if the Si Guosai can win in Sweden, will give an edge on the morale of the World Cup.
Sunday, January 23, 2011
3 British dog racing dog probability of an accident while crossing the finish line a few hundred parts per million (Figure)
Three dogs while crossing the finish line
chance of one in a million
Xinhua BEIJING, Jan. 21, according to British media reports, appeared in the British dog racing amazing race scene, while three dogs nose to reach the terminal, in the field can not distinguish between Hawkeye playback has finally announced the three dogs the same for the championship.
three dogs are a venue of Killishan Masai, 5 and 2 channel Ayamzagirl to Droopys Djokovic. Finally, ? 500 first prize shared equally by the owner of three dogs.
When the results of the competition announced, the audience cheered. According to bookmakers, said a spokesman, said such an outcome likely to occur only a few hundred million to one. Like a won the lottery prize, to go out immediately after the lightning strike the same.
gaming companies, according to estimates, about 10 million people voted for this game note, half of whom will be rewarded.
chance of one in a million
Xinhua BEIJING, Jan. 21, according to British media reports, appeared in the British dog racing amazing race scene, while three dogs nose to reach the terminal, in the field can not distinguish between Hawkeye playback has finally announced the three dogs the same for the championship.
three dogs are a venue of Killishan Masai, 5 and 2 channel Ayamzagirl to Droopys Djokovic. Finally, ? 500 first prize shared equally by the owner of three dogs.
When the results of the competition announced, the audience cheered. According to bookmakers, said a spokesman, said such an outcome likely to occur only a few hundred million to one. Like a won the lottery prize, to go out immediately after the lightning strike the same.
gaming companies, according to estimates, about 10 million people voted for this game note, half of whom will be rewarded.
Thursday, January 20, 2011
Wang Yong China-US economic relationship is still the
Peking University Professor Wang Yong, director of economic research center to the partners rather than excludes the United States, bilateral economic rebalancing is necessary for both sides to expand opening up to trade and investment rather than protectionism.
bilateral economic relations is still the
Wang Yong: You can say that the current Sino-US economic cooperation mechanism to form a network, involving all aspects of economic relations. In addition to the cooperation between local governments, the central government level, from low to high, both sides have dozens of deputy ministerial level functional organization, on top of this there is the Strategic Economic Dialogue, high-level dialogue, China and the U.S. Joint Commission (JCCT) three Vice-Prime-level mechanism.
the president took office, we have strategic economic dialogue and combined high-level dialogue, known as the Strategic Economic Dialogue, in this based on the most important thing is communication between the two heads of state, including regular summit meeting from time to time, the hotline consultations and so on.
Daily: China and the U.S. economy what is the most important mutual concern?
Yong: Sino-US economic interdependence so that both sides are highly concerned about the other macro-economic stability.
Specifically, China's main concerns are three aspects. The first is the U.S. macroeconomic policy stability, continuity, especially toward the dollar; the second is the safety of the assets in the United States, which mainly is the safety of U.S. Treasury bonds purchased; the third is the open U.S. market , including the United States on China to increase investment in the U.S. Open, and U.S. trade protectionism.
U.S. concern about China's economy can be summarized as three points. First, China's macroeconomic policies, including the issue of China's economic growth, and formation mechanism of RMB exchange rate reform to the problem; the second is the issue of Sino-US trade balance; third-invested enterprises in China, the U.S. market opening concerns and the adjustment of foreign direct investment policy, including the independent innovation of China's policy, government procurement, intellectual property protection and other policies.
by the end of December 2010 JCCT 21st annual meeting, the two countries in these areas of common concern and reached some agreement, both sides are satisfied with the results, it is also economic as the Hu President's visit created a good atmosphere.
Daily: Do you think the economic aspects of Sino-US competitors or collaborators in the end is?
Yong: I think this issue should be a more accurate representation of the Sino-US economic relations in the end is more competitive or more cooperative. From the Sino-US economic structure, industrial structure and development stage, it is more between the two complementary, cooperative stronger. Moreover, such a trend in the future for a long period of time will exist within, will continue to promote Sino-US relations toward a more healthy direction.
Sino-US relations in almost all fields is not zero-sum game, by creating a cooperative atmosphere between the two sides of the strategy is not to improve relations of trust, develop mutual trust between the two sides, so that Sino-US relations have may return to the past to cooperate to promote the kind of virtuous cycle of cooperation, the track up.
I believe that the Sino-US economic relations, China-US relations on the whole play, Now some people think that economic and trade relations also lead to instability, so the But I think it is the function of a stable relationship will continue to exist, the breakdown of this relationship for both sides are very high costs.
economic integration in East Asia do not have to exclude the United States
Daily: How do you view the current East Asian integration in the United States in the role?
Yong: East Asian economic integration is not just an economic issue, also related to strategic and security issues.
United States as the sole superpower after the Cold War, and its policy bias in all major regions of the world occupies a dominant position. Under this premise, it does not want to form an East Asia without U.S. participation, there is no US-led regional cooperation mechanisms. The early 90s from the 20th century, Malaysia's then the last two years in Japan's
from the perspective of regional integration, the United States is now more hope for greater cooperation to replace the form of regional cooperation in East Asia, so the United States proposed the ) plans as Obama
Daily: that it wants to integrate itself into the leadership of East Asia?
Wang Yong: Yes. To turn America into a major driving force to build a US-centric regional cooperation mechanisms, the United States and the countries concerned to sign a free trade agreement on deepening cooperation agreements, so that one can guarantee that these areas continue to open to American products gate, while ensuring that these countries are still under the influence of the United States.
Daily: How do you view the current East Asian economic integration, the phenomenon appeared excludes the United States?
Yong: First, such cooperation itself, we should not over-interpret the common development of countries in the region needs, it is necessary to establish such a body, not necessarily compete with more meaning and the United States , and more out of intrinsic motivation.
in the post-crisis era of the global political economy, the United States on many issues over the past dominant position has been watered down, a lot of things it can not intervene. The current world trend is that many areas may not necessarily have to be the development of relations between the United States, but also not necessarily subject to American influence, because it has the region's needs, as long as the interest in the relevant countries can be carried out together, on The United States should adjust their mentality.
the other hand, these cooperation mechanisms and related institutions, it should be open to U.S. capital, not the exclusion of the United States, if the United States is willing to contribute, it should be encouraged to play a constructive role. So that we can put some people described some of the possible competition between China and the U.S. relationship into a cooperative relationship.
must be vigilant that there are accustomed to a zero-sum game mentality to look at the trend of the two sides of the issue, which makes us unable to move. Multilateralism and regional integration is a worldwide trend, not all Asian regional cooperation are seen as competition between China and the United States, which is absolutely wrong idea.
China needs more effective
Yong: This is a very complicated but it is worth exploring.
first to adopt a pragmatic attitude. China should not be simplistic, emotional, especially the conspiracy theory perspective on the United States and other countries in some of the views on the currency issue. China's economy today has grown to the world economy and plays a decisive role in regional economic level, but our positioning and our awareness of the changes still have some gaps, we do not recognize that our component requires us to assume corresponding responsibilities.
must also recognize that the reform of RMB exchange rate not only affect China-US economic and trade relations, but also affect the future of China's macroeconomic development. Most economists now believe that a modest appreciation of the yuan, to better reflect the market value in China's long-term interests.
highlighted the problem of inflation in the current circumstances, the adjustment of RMB exchange rate, increase imports, to stabilize prices through imports, which for the balanced development of our overall economy is good. Meanwhile, the continued reform of the RMB exchange rate of RMB as an international currency for the expansion, in particular the role of the international reserve currency is very large.
Daily News: We are very worried about the current appreciation of the renminbi caused a dramatic decline in Chinese exports, how should we respond to this concern?
Wang Yong: Yes, many people worry that RMB appreciation makes Chinese exporters being squeezed profit margins and cause the closure of factories and workers lose their jobs. But I personally think that this loss may be measured by our specific method of calculation of a relationship. If far as exporters and unemployed workers, the loss does exist. But on the whole national economic restructuring and economic growth mode transformation, we very much need more international experience, the formation of the RMB exchange rate and capital controls greater strides. By attracting more investment, while more imports, and promote innovation and economic system go faster and farther.
Daily News: We are very concerned about the current quantitative easing policy of the United States (QE2) due to China's
Yong: similar to QE2's approach not only do the United States, the European Union, Britain, Japan, including our own are doing, and its sole purpose is to market by expanding the money supply to reduce financing costs, thereby increasing the investment artificially stimulate the economy.
the U.S. dollar in the international monetary system in the leading position, we are particularly concerned about the United States, primarily for two reasons QE2. First, the United States when implementing this policy did not discuss the main affected countries, in particular the G20 members did not discuss with a very strong unilateral nature; Second, the specific impact, the United States issued currency in the international economy cycle ultimately into other countries, the domestic currency in circulation, increasing the pressure on other countries, that is what we call
from the global economy, we are in a new phase in the global economy, the level of global inflation in recent years are very powerful, although the U.S. currency over the years made led to this result, but had to say that the major countries are too dependent on the means of issuing currency to stimulate the economy. This is not a Chinese problem, but economic globalization global issues.
Although not expect to changes in the exchange rate formation mechanism reform.
Daily: How do you think China should deal with the U.S. currency over-fat and other types of irresponsible policy?
Yong: This relates to our ability to effectively carry out the For instance, we and other international mechanisms in the G20 will be negative impact on U.S. policy to unite the country to put pressure on the United States, making it more responsible policies. We can also mobilize and our interests, policy goals similar to some countries put pressure on the United States, such as the EU and even some countries in Southeast Asia, many countries are the U.S. dollar foreign exchange reserves, can cooperate.
regret is that we still do not see this step, on the contrary to be used by the Americans. To do this, we must realize that we own in the global economy and a more important role in the important responsibilities, which gives us a more basic use of a more open attitude to carry out effective
bilateral economic re-balance the need to be open and collaborative
Daily: the face of economic crisis, the current Sino-US economic adjustment in focus, how you see the two countries in economic adjustment coordination?
Wang Yong: China's economic adjustment is not easy to achieve, and are subject to the current economic situation and has formed the industrial structure, adjustment costs on society as a whole is not uniform, and by the damage to the industry must put pressure on the government, resulting in adjustment costs, such political and economic phenomenon of economic adjustment are similar in all countries, will not be smooth.
to adjust the direction, China needs a domestic demand-driven economic growth, to reduce dependence on the international market, this industry need to gradually upgrade the product structure, increase the technological content of products to enhance self- innovation, and increase local value-added share of products, which rely on cheap labor and the change in the international value chain in the low level state. The United States needs to reduce dependence on imported products, to save more in order to reduce dependence on foreign financing instruments, but also need to produce more and more to export, the U.S. proposed to revitalize the U.S. manufacturing sector, develop their own strategies in emerging industries is out of this consideration.
as trade and investment between China and close ties adjustment will have a significant impact on each other, but the current situation can be said that the two countries to adjust to the center from both ends. We are too dependent on overseas markets, the United States too dependent on overseas products, this adjustment is conducive to both increase the similarity of economic structure between the two countries to address the economic imbalance.
Daily: What is the adjustment of the current outstanding problems, you should think how to solve these problems?
Yong: The current adjustment process does have some contradictions, the most fundamental is the U.S. trying to expand domestic production and exports while reducing imports to China to improve the trade balance. For example, in cross-border investment, the United States wants to put more capital to stay in the United States to revive the manufacturing sector, while China wants to continue to absorb the United States to invest in China, especially for large multinational corporations, high-quality investment, making it a conflict of interest between the two countries .
but a cooperative approach is to be found. Now it seems, first of all is that both sides want to conclude bilateral investment agreements as soon as possible. The agenda of the Bush administration in late 2008 has been launched, but has not yet been reached. Points of the agreement the two sides to be more open to investment, especially U.S. investment in China to be more open, so as to compensate for the outflow of capital, thereby contributing to U.S. economic prosperity. Many local governments in the U.S. investment in China is very welcome, but due to that China's investment in advanced technology may lead to the loss of the United States, these efforts suffered a so-called
Second, I think we can to sign a China and the U.S. economies are highly complementary, and now both sides have very low tariffs, the conclusion of the Agreement is entirely feasible, although both sides have some industries will be affected, but on the promotion of bilateral economic and trade relations to a more positive direction is meaningful.
The third is that we should seize the new opportunity for the WTO Rapid economic development in China today, more than any other country we have the bargaining power, we should make full use of this advantage. This year the new WTO Ministerial Conference was held again, Japan and the United States and Europe need to further coordinate their positions four, the Chinese tariff reductions and market opening in the positive attitude contribute to better coordination and the United States. In short, the face of
practical actions and positive attitude will help improve our foreign relations in 2010, there were the passive situation, the strategic mutual trust can not be changed overnight, we are now the most effective economic card is to lay hands and create a platform for cooperation.
Daily: Zbigniew Brzezinski recently wrote to President Hu Jintao visited the United States comparable to this 30 years ago, Deng Xiaoping visited the United States, you have to look at?
Yong: Zbigniew Brzezinski as a strategist, experienced in January 1979 by Deng Xiaoping's visit to the U.S., but today and the prevailing strategic environment has been very different. At that time China and the U.S. response to the former Soviet Union have a common basis of security threats, on top of this Sino-US alliance formed between one and a half, and now the international strategic environment has changed, we do not have a common enemy and competitor.
but in view of the adjustment of U.S. policy toward China has not yet finally set the tone for the visit is very important. For China, we have to an open, positive attitude to shape their strategic mutual trust. In the past three decades of experience tells us that open attitude is the key to success. I believe a word, China will change the world, we must first change yourself. China's best interest to change the world, must be the most feasible way to achieve by changing their own.
bilateral economic relations is still the
Wang Yong: You can say that the current Sino-US economic cooperation mechanism to form a network, involving all aspects of economic relations. In addition to the cooperation between local governments, the central government level, from low to high, both sides have dozens of deputy ministerial level functional organization, on top of this there is the Strategic Economic Dialogue, high-level dialogue, China and the U.S. Joint Commission (JCCT) three Vice-Prime-level mechanism.
the president took office, we have strategic economic dialogue and combined high-level dialogue, known as the Strategic Economic Dialogue, in this based on the most important thing is communication between the two heads of state, including regular summit meeting from time to time, the hotline consultations and so on.
Daily: China and the U.S. economy what is the most important mutual concern?
Yong: Sino-US economic interdependence so that both sides are highly concerned about the other macro-economic stability.
Specifically, China's main concerns are three aspects. The first is the U.S. macroeconomic policy stability, continuity, especially toward the dollar; the second is the safety of the assets in the United States, which mainly is the safety of U.S. Treasury bonds purchased; the third is the open U.S. market , including the United States on China to increase investment in the U.S. Open, and U.S. trade protectionism.
U.S. concern about China's economy can be summarized as three points. First, China's macroeconomic policies, including the issue of China's economic growth, and formation mechanism of RMB exchange rate reform to the problem; the second is the issue of Sino-US trade balance; third-invested enterprises in China, the U.S. market opening concerns and the adjustment of foreign direct investment policy, including the independent innovation of China's policy, government procurement, intellectual property protection and other policies.
by the end of December 2010 JCCT 21st annual meeting, the two countries in these areas of common concern and reached some agreement, both sides are satisfied with the results, it is also economic as the Hu President's visit created a good atmosphere.
Daily: Do you think the economic aspects of Sino-US competitors or collaborators in the end is?
Yong: I think this issue should be a more accurate representation of the Sino-US economic relations in the end is more competitive or more cooperative. From the Sino-US economic structure, industrial structure and development stage, it is more between the two complementary, cooperative stronger. Moreover, such a trend in the future for a long period of time will exist within, will continue to promote Sino-US relations toward a more healthy direction.
Sino-US relations in almost all fields is not zero-sum game, by creating a cooperative atmosphere between the two sides of the strategy is not to improve relations of trust, develop mutual trust between the two sides, so that Sino-US relations have may return to the past to cooperate to promote the kind of virtuous cycle of cooperation, the track up.
I believe that the Sino-US economic relations, China-US relations on the whole play, Now some people think that economic and trade relations also lead to instability, so the But I think it is the function of a stable relationship will continue to exist, the breakdown of this relationship for both sides are very high costs.
economic integration in East Asia do not have to exclude the United States
Daily: How do you view the current East Asian integration in the United States in the role?
Yong: East Asian economic integration is not just an economic issue, also related to strategic and security issues.
United States as the sole superpower after the Cold War, and its policy bias in all major regions of the world occupies a dominant position. Under this premise, it does not want to form an East Asia without U.S. participation, there is no US-led regional cooperation mechanisms. The early 90s from the 20th century, Malaysia's then the last two years in Japan's
from the perspective of regional integration, the United States is now more hope for greater cooperation to replace the form of regional cooperation in East Asia, so the United States proposed the ) plans as Obama
Daily: that it wants to integrate itself into the leadership of East Asia?
Wang Yong: Yes. To turn America into a major driving force to build a US-centric regional cooperation mechanisms, the United States and the countries concerned to sign a free trade agreement on deepening cooperation agreements, so that one can guarantee that these areas continue to open to American products gate, while ensuring that these countries are still under the influence of the United States.
Daily: How do you view the current East Asian economic integration, the phenomenon appeared excludes the United States?
Yong: First, such cooperation itself, we should not over-interpret the common development of countries in the region needs, it is necessary to establish such a body, not necessarily compete with more meaning and the United States , and more out of intrinsic motivation.
in the post-crisis era of the global political economy, the United States on many issues over the past dominant position has been watered down, a lot of things it can not intervene. The current world trend is that many areas may not necessarily have to be the development of relations between the United States, but also not necessarily subject to American influence, because it has the region's needs, as long as the interest in the relevant countries can be carried out together, on The United States should adjust their mentality.
the other hand, these cooperation mechanisms and related institutions, it should be open to U.S. capital, not the exclusion of the United States, if the United States is willing to contribute, it should be encouraged to play a constructive role. So that we can put some people described some of the possible competition between China and the U.S. relationship into a cooperative relationship.
must be vigilant that there are accustomed to a zero-sum game mentality to look at the trend of the two sides of the issue, which makes us unable to move. Multilateralism and regional integration is a worldwide trend, not all Asian regional cooperation are seen as competition between China and the United States, which is absolutely wrong idea.
China needs more effective
Yong: This is a very complicated but it is worth exploring.
first to adopt a pragmatic attitude. China should not be simplistic, emotional, especially the conspiracy theory perspective on the United States and other countries in some of the views on the currency issue. China's economy today has grown to the world economy and plays a decisive role in regional economic level, but our positioning and our awareness of the changes still have some gaps, we do not recognize that our component requires us to assume corresponding responsibilities.
must also recognize that the reform of RMB exchange rate not only affect China-US economic and trade relations, but also affect the future of China's macroeconomic development. Most economists now believe that a modest appreciation of the yuan, to better reflect the market value in China's long-term interests.
highlighted the problem of inflation in the current circumstances, the adjustment of RMB exchange rate, increase imports, to stabilize prices through imports, which for the balanced development of our overall economy is good. Meanwhile, the continued reform of the RMB exchange rate of RMB as an international currency for the expansion, in particular the role of the international reserve currency is very large.
Daily News: We are very worried about the current appreciation of the renminbi caused a dramatic decline in Chinese exports, how should we respond to this concern?
Wang Yong: Yes, many people worry that RMB appreciation makes Chinese exporters being squeezed profit margins and cause the closure of factories and workers lose their jobs. But I personally think that this loss may be measured by our specific method of calculation of a relationship. If far as exporters and unemployed workers, the loss does exist. But on the whole national economic restructuring and economic growth mode transformation, we very much need more international experience, the formation of the RMB exchange rate and capital controls greater strides. By attracting more investment, while more imports, and promote innovation and economic system go faster and farther.
Daily News: We are very concerned about the current quantitative easing policy of the United States (QE2) due to China's
Yong: similar to QE2's approach not only do the United States, the European Union, Britain, Japan, including our own are doing, and its sole purpose is to market by expanding the money supply to reduce financing costs, thereby increasing the investment artificially stimulate the economy.
the U.S. dollar in the international monetary system in the leading position, we are particularly concerned about the United States, primarily for two reasons QE2. First, the United States when implementing this policy did not discuss the main affected countries, in particular the G20 members did not discuss with a very strong unilateral nature; Second, the specific impact, the United States issued currency in the international economy cycle ultimately into other countries, the domestic currency in circulation, increasing the pressure on other countries, that is what we call
from the global economy, we are in a new phase in the global economy, the level of global inflation in recent years are very powerful, although the U.S. currency over the years made led to this result, but had to say that the major countries are too dependent on the means of issuing currency to stimulate the economy. This is not a Chinese problem, but economic globalization global issues.
Although not expect to changes in the exchange rate formation mechanism reform.
Daily: How do you think China should deal with the U.S. currency over-fat and other types of irresponsible policy?
Yong: This relates to our ability to effectively carry out the For instance, we and other international mechanisms in the G20 will be negative impact on U.S. policy to unite the country to put pressure on the United States, making it more responsible policies. We can also mobilize and our interests, policy goals similar to some countries put pressure on the United States, such as the EU and even some countries in Southeast Asia, many countries are the U.S. dollar foreign exchange reserves, can cooperate.
regret is that we still do not see this step, on the contrary to be used by the Americans. To do this, we must realize that we own in the global economy and a more important role in the important responsibilities, which gives us a more basic use of a more open attitude to carry out effective
bilateral economic re-balance the need to be open and collaborative
Daily: the face of economic crisis, the current Sino-US economic adjustment in focus, how you see the two countries in economic adjustment coordination?
Wang Yong: China's economic adjustment is not easy to achieve, and are subject to the current economic situation and has formed the industrial structure, adjustment costs on society as a whole is not uniform, and by the damage to the industry must put pressure on the government, resulting in adjustment costs, such political and economic phenomenon of economic adjustment are similar in all countries, will not be smooth.
to adjust the direction, China needs a domestic demand-driven economic growth, to reduce dependence on the international market, this industry need to gradually upgrade the product structure, increase the technological content of products to enhance self- innovation, and increase local value-added share of products, which rely on cheap labor and the change in the international value chain in the low level state. The United States needs to reduce dependence on imported products, to save more in order to reduce dependence on foreign financing instruments, but also need to produce more and more to export, the U.S. proposed to revitalize the U.S. manufacturing sector, develop their own strategies in emerging industries is out of this consideration.
as trade and investment between China and close ties adjustment will have a significant impact on each other, but the current situation can be said that the two countries to adjust to the center from both ends. We are too dependent on overseas markets, the United States too dependent on overseas products, this adjustment is conducive to both increase the similarity of economic structure between the two countries to address the economic imbalance.
Daily: What is the adjustment of the current outstanding problems, you should think how to solve these problems?
Yong: The current adjustment process does have some contradictions, the most fundamental is the U.S. trying to expand domestic production and exports while reducing imports to China to improve the trade balance. For example, in cross-border investment, the United States wants to put more capital to stay in the United States to revive the manufacturing sector, while China wants to continue to absorb the United States to invest in China, especially for large multinational corporations, high-quality investment, making it a conflict of interest between the two countries .
but a cooperative approach is to be found. Now it seems, first of all is that both sides want to conclude bilateral investment agreements as soon as possible. The agenda of the Bush administration in late 2008 has been launched, but has not yet been reached. Points of the agreement the two sides to be more open to investment, especially U.S. investment in China to be more open, so as to compensate for the outflow of capital, thereby contributing to U.S. economic prosperity. Many local governments in the U.S. investment in China is very welcome, but due to that China's investment in advanced technology may lead to the loss of the United States, these efforts suffered a so-called
Second, I think we can to sign a China and the U.S. economies are highly complementary, and now both sides have very low tariffs, the conclusion of the Agreement is entirely feasible, although both sides have some industries will be affected, but on the promotion of bilateral economic and trade relations to a more positive direction is meaningful.
The third is that we should seize the new opportunity for the WTO Rapid economic development in China today, more than any other country we have the bargaining power, we should make full use of this advantage. This year the new WTO Ministerial Conference was held again, Japan and the United States and Europe need to further coordinate their positions four, the Chinese tariff reductions and market opening in the positive attitude contribute to better coordination and the United States. In short, the face of
practical actions and positive attitude will help improve our foreign relations in 2010, there were the passive situation, the strategic mutual trust can not be changed overnight, we are now the most effective economic card is to lay hands and create a platform for cooperation.
Daily: Zbigniew Brzezinski recently wrote to President Hu Jintao visited the United States comparable to this 30 years ago, Deng Xiaoping visited the United States, you have to look at?
Yong: Zbigniew Brzezinski as a strategist, experienced in January 1979 by Deng Xiaoping's visit to the U.S., but today and the prevailing strategic environment has been very different. At that time China and the U.S. response to the former Soviet Union have a common basis of security threats, on top of this Sino-US alliance formed between one and a half, and now the international strategic environment has changed, we do not have a common enemy and competitor.
but in view of the adjustment of U.S. policy toward China has not yet finally set the tone for the visit is very important. For China, we have to an open, positive attitude to shape their strategic mutual trust. In the past three decades of experience tells us that open attitude is the key to success. I believe a word, China will change the world, we must first change yourself. China's best interest to change the world, must be the most feasible way to achieve by changing their own.
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