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Global currency markets is preparing to shock Chinese
9/11/2016 0:00
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Ambrose Evans
translation / Khalid Qasim
feared currency experts from the heavy fall in China 's foreign reserves in October of last month, a shock - threatening treatment monetary panic that occurred last year and talked extra jolt to markets fragile stock globally.
Warns Consultation Center and Economic Research , " the capital 's economy . " that themain figure will fall by $ 100 billion, five times the month of September, the highest level since the global stock turmoil in January last two and February.
to be sure, these numbers Stdq alarm among dealers skittish, and who already feel emotional because of the US elections and monetary tightening expected by the US Federal reserve.
British interest in dollar - denominated prices for three months jumped half apercentage point because of the drought of liquidity and higher borrowing costs as theglobal financial system
"Almdolr."
expert at the Foundation for data exchange says that the reduction organizer of theChinese currency in the past few weeks , check overall monetary intervention strong from China 's central bank, he said that his institution expects a sharp decline of $ 80 billion. The China reserves of 3.17 trillion dollars after peaking at $ 4 trillion, although the figure seems enormous yet but it's not great , especially in proportion to China 'seconomy and if we take into account that it possesses currency
restricted.
Adds capital economy status that the effects Rating strong dollar and yields high bonds will reduce the reserves automatically up to $ 60 billion last month, but the market is not ready for it.
monetary intervention of the Central Bank of China shows in order to protect the yuan accounts by pumping $ 40 billion more, the Chinese financial system is still bleeding capital sharp quickly despite the moves behind the scenes to stem outflows. China Federation of cards banks and received an order to restrict the use of credit cards for thepurposes of financial transfers abroad.
Repeated the Chinese authorities in fact the mistake last year , with the stock bubble sponsored by the State, where the results were very bad.
It encouraged authorities to individuals during the current year on obtaining mortgages and increase efficiency in the housing market, and led to severe boom in major cities of the east coast.
enjoy the Chinese economy is a positive perfect storm over the past few months because the credit growth reached its peak and fiscal policy was more flexible than ever before in the history of
modern China. Workers in the center of the capital 's economy is believed that thecentral government deficit swell to more than 4 percent of gross domestic product in thethird quarter (on an annual basis) , four times the level at the beginning of last year. And increased local governments from issuing net bond to 2 percent of gross domestic
product.
Authorities fear clearly that they are excessive fiscal policy flexible and you need to restore discipline, and therefore began to reduce spending slightly and launched aninvestigation into the issuance of local government bonds.
Vary falling foreign reserves last month in estimates great, but the number that a consensus is $ 26 billion.
anything close to 80-100 billion dollars , an event unlikely to fall to some extent, and perhaps misinterpreted Ktsaid greater efflux of what is happening
in reality.
the daily Telegraph[/rtl]
[rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=126446[/rtl]
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