www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / View

Low inflation stimulates stable economy

By Tom McGregor (China Daily) Updated: 2012-10-16 17:38

China continues to enjoy remarkable growth, despite a slow recovery in the US and sovereign debt crisis in Europe. The International Monetary Fund forecasts the nation to hit GDP growth of 7.7 percent this year. The job market remains strong and inflation levels are dropping, which means a better quality of life for Chinese consumers overall.

On Monday, Beijing announced that, "the September Consumer Price Index increased 1.9 percent year-on-year. The CPI, a key inflation gauge, grew 2 percent in August and hit a two-year low of 1.8 percent in July," as disclosed by Chinese media reports.

China's central bank seems to be taking measures to fend off inflationary risks as its primary focus and these efforts deserve to be applauded.

Special coverage: China Economy by Numbers - Sept

As reported by Emerging Markets news Website, Yi Gang, deputy governor of the People's Bank of China, "delivering a speech on behalf of PBOC's governor … expressed confidence that inflation would be 'fine' this year in China, forecasting it at around 2.7 for the year. But during the 30-minute address he reiterated six times that the PBOC's main priority was combating inflation."

He explained the central bank's strategy is "looking at inflation and afterwards at growth, unemployment and the balance of payments, in that order, when deciding on monetary policy".

He calls for Beijing to push ahead only on small-scale stimulus measures to avoid creating a financial bubble.

"The stimulus package, I think, this time will be appropriate in terms of size," Yi told Emerging Markets. "When I say appropriate in terms of size, that is large enough to stabilize growth, but not too large to cause some further negative impact, or negative problems in the future."

Yi hopes that China could avoid the trap of taking on excessive government spending projects that could lead to large, out-of-control deficits, which had occurred with some EU member countries, including Greece and Ireland, in which these governments needed bailouts to avoid default on its debt payments.

Surging deficit spending may spark some growth for the domestic economy in the short term, but could slow down structural growth rates in the long term. Stimulus measures can be effective during moments of financial crises. However, China appears headed towards an annual growth rate of nearly 8 percent this year.

So, no need to panic and the PBOC has made the correct decision to restrain inflation.

Consumers benefit the most from lower inflation, especially those with low incomes when purchasing daily necessities. Fortunately, food inflation is slowing too in the country.

The National Bureau of Statistics disclosed that, "prices for pork and fresh vegetables fell markedly when supply expanded," in September. Additionally, "food prices increased 2.5 percent year-on-year in September, 0.9 percent of a percentage point lower than the August rate."

The report was publicly released a few days before "World Food Day", which is celebrated by NGOs from all over the world to raise awareness on global hunger.

Although the PBOC is keeping inflation under control, US Federal Reserve Chairman Ben Bernanke has moved forward on quantitative easing that could lead to higher inflation worldwide in the months ahead.

Related reading: Central bank governor stresses inflation control

PBOC's Yi Gang warned, "if you have quantitative easing and that influences commodities, especially energy and food, it would influence inflation through imports."

He said to Emerging Markets, "the main inflation threat is agriculture and the second thing is the imported energy threat through commodities, raw materials and energy imports."

The PBOC suggested it would continue to fight the negative impact of global inflation by continuing on with monetary measures such as "raising the reserve requirement ratio, or RRR, which is the proportion of deposits that commercial banks must keep in reserve with the central bank," according to Emerging Markets.

Fending off inflationary risks is vital for a sustainable economy in the nation. Meanwhile, the US and EU appear rebounding toward a stronger economic recovery, and perhaps China's economy could rise higher-than-expected with stronger export demand, while enjoying a lower inflationary period as well. That's a two-for-one special for China.

The views do not necessarily reflect those of China Daily.

McGregor@chinadaily.com.cn

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 亚洲欧美日本视频 | 男人又粗又硬桶女人免费 | 美国一级毛片视频 | 久久久久久久久久久9精品视频 | 一级毛片美国一级j毛片不卡 | 亚洲成a人一区二区三区 | 99久久精品免费观看国产 | 韩国三级大全久久网站 | 国产精品秒播无毒不卡 | 日韩经典欧美精品一区 | 高清不卡毛片免费观看 | 国产成人亚洲精品影院 | 日韩成人在线观看视频 | www射射一区| 香港三级88久久经典 | 国产草草影院 | 久久91综合国产91久久精品 | 亚洲精品综合一区二区三区 | 久久精品一区二区三区日韩 | 欧美在线高清视频播放免费 | 国产人成亚洲第一网站在线播放 | 中文字幕精品一区二区2021年 | 国产自在自线午夜精品视频在 | 成人a视频在线观看 | 久久国产精品成人免费 | 久久视频精品线视频在线网站 | 亚洲国产剧情在线精品视 | 国产成人精品久久一区二区小说 | 美国三级在线 | 12345国产精品高清在线 | 99毛片| 免费观看欧美一级牲片一 | 国内精品免费一区二区三区 | 成人看的午夜免费毛片 | 亚洲国产伦理 | 国产亚洲综合精品一区二区三区 | 久久久久久久久久久久久久久久久 | 日韩在线播放视频 | 美女个护士一级毛片亚洲 | 欧美一区a | 国产男女猛烈无遮档免费视频网站 |