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s policy. “QE2 put the . on the defensive in arguing with China to rebalance the world economy, he notes. Since China was unhappy about the QE, and other countries joined it in criticizing the Fed?s action, it was harder for the . to get these countries to join in pushing China on other issues at Seoul, such as the currency appreciation.” Destler reckons that Bernanke made a mistake in not giving a serious international justification of QE2 in time, hence putting himself under international criticism. He should have explained that it was necessary for the Federal Reserve to implement QE2 to stimulate the . economy, that the international spillover was manageable and the world would benefit from a stronger . recovery,” he says. Third Time Lucky? Tian of Fudan University warns that the big danger of a QE3 is that it will challenge the credibility of the . dollar. “If countries around the world bypass the . dollar during international trade, dollars will flow back to the and that would be a serious problem for the .,” he says. Zheng of Fudan University notes that in the event of further easing by the Fed, China will most likely have to allow the RMB to appreciate. “A third round of QE equals another round of petitive depreciation of the . dollar,” he says. “Since the RMB maintains a soft peg to the dollar, the RMB39。s Swagel, “China?s own moary policy is problematic in the first place and the biggest driver of inflation in China is the Chinese moary policy. The main fact is that China is maintaining a weak yuan and the soft peg to the dollar forces China to have excessive liquidity that boosts inflation.” The country39。 ” 附注:本文摘自“ 賓夕法尼亞大學(xué) 網(wǎng)站期刊”, 發(fā)布日期 : 附原文: Recovery Mode: Should China Worry About the .39。同時(shí),即使人民幣升值對(duì)出口部門(mén)有負(fù)面影響,中國(guó)也有其他選擇來(lái)保持其經(jīng)濟(jì)強(qiáng)勁增長(zhǎng)。 ” 復(fù)旦大學(xué)的鄭輝認(rèn)為,如果美聯(lián)儲(chǔ)進(jìn)一步推行寬松政策,那么,中國(guó)很可能不得不讓人民幣升值。因此,在中期大選剛一結(jié)束,它就宣布將實(shí)施第二輪量化寬松政策,而這個(gè)時(shí)間剛好處在漢城峰會(huì)召開(kāi)之前。 “因?yàn)槊缆?lián)儲(chǔ)的職責(zé)就是調(diào)節(jié)經(jīng)濟(jì)運(yùn)行,創(chuàng)造就業(yè)機(jī)會(huì)以達(dá)到充分就業(yè),所以,核心問(wèn)題是,在當(dāng)時(shí), 2020 年,用以加速經(jīng)濟(jì)復(fù)蘇的可用手段都是什么呢? ”馬里蘭大學(xué)公共政策學(xué)院的麥克 ?戴斯勒( I. M. (Mac) Destler)教授問(wèn)道。 “除了繼續(xù)從全球進(jìn)口這些商品以外,中國(guó)沒(méi)有多少選擇, ”鄭輝表示, “即使原油價(jià)格和食品價(jià)格不斷攀升,中國(guó)也不太可能減少在進(jìn)口這些商品上的開(kāi)銷(xiāo)。上海復(fù)旦大學(xué)的金融學(xué)教授鄭輝認(rèn)為,自前兩輪量化寬松政策實(shí)施以后,在全球市場(chǎng)流通的美元更多了,從而降低了美元對(duì)其他主要貨幣的比價(jià)。 “它讓北京對(duì)美聯(lián)儲(chǔ)的美元長(zhǎng)期政策頗感緊張,中國(guó)政府擔(dān)心,美國(guó)會(huì)長(zhǎng)期奉行弱勢(shì)美元政策( weak dollar policy)。但是,全球各地都能聽(tīng)到這樣的批評(píng):第二輪量化寬松政策同樣觸發(fā)了全球商品價(jià)格的急劇飆升,北京的官員對(duì)此深表認(rèn)同,并稱,熱錢(qián)因此流入了自己的國(guó)家。 本科畢業(yè)設(shè)計(jì) ( 論文 ) 外 文 翻譯(附外文 原文 ) 學(xué) 院 : 管理學(xué)院 課題名稱 : 專業(yè) (方向 ): 國(guó)際經(jīng)濟(jì)與貿(mào)易 班 級(jí): 學(xué) 生: 指 導(dǎo)教師 : 日 期 : 復(fù)蘇模式:中國(guó)應(yīng)該對(duì)美國(guó)的量化寬松政策感到擔(dān)心嗎? 美聯(lián)儲(chǔ)( Federal Reserve)主席本 他們認(rèn)為,如果出臺(tái)第三輪量化寬松政策,也將會(huì)產(chǎn)生這樣的結(jié)果。 ” 曾任職美國(guó)對(duì)中國(guó)事務(wù)貿(mào)易代表助理的弗雷曼談到, “最近,中國(guó)對(duì)美國(guó)財(cái)政部和美聯(lián)儲(chǔ)施壓,要求它們?cè)俅伪WC,量化寬松只是短期政策。他還談到,因?yàn)閲?guó)際商品是以美元定價(jià)的,所以,從石油到白糖,所有大宗商品的價(jià)格都上漲了。 ” 然而,馬里蘭大學(xué)的斯瓦格認(rèn)為, “中國(guó)自己的貨幣政策本身就存在問(wèn)題,中國(guó)通貨膨脹的最大驅(qū)動(dòng)