时间：2024-01-31|浏览：1479
用戶喜愛的交易所
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On the grand stage of today's world economy, the United States has always had a profound impact on the global economy with its strong economic strength and global reserve currency, the U.S. dollar.
The United States, as the issuing country of the US dollar, has therefore gained a unique way of plundering wealth by raising interest rates. However, this method of plundering wealth is not omnipotent. In the case of China, the United States found that its "harvesting method" failed. Why is this?
The true intention of the U.S. dollar’s interest rate hike
The Federal Reserve said it would raise interest rates to the maximum to combat inflation. It's reasonable and confident. Does it sound as natural as "running for good health"?
Since the tension between China and the United States in 2018, the two sides have been going back and forth in a battle of wits and courage. Wall Street bosses thought they could easily suppress us, but what happened? We are like the Three Heroes fighting against Lu Bu. The more we fight, the braver we become.
The United States originally wanted to seize every inch of our high technology, but the reality is that after the Russia-Ukraine conflict, the entire West realized how terrifying our manufacturing capabilities are. Drones, artillery shells, and various high-tech products, the production capacity is amazing! Directly scare the American and Western Group into silence!
Therefore, this wave of U.S. dollar interest rate hikes is like a cup of Moutai, full of stamina and endless aftertaste if you taste it carefully. Do you know Moutai? The legendary nobleman in wine makes people want to stop after one sip.
This is the charm of Moutai, the more you taste it, the more delicious it becomes. The same goes for this wave of U.S. dollar interest rate hikes. The stories and impacts behind them are really interesting.
Over the past decade or so, the United States has been facing a dilemma, that is, it has been unable to successfully harvest China's high-quality assets. Although U.S. capital invests in and runs companies in China, the income earned in this way cannot meet the needs of the United States.
The economic growth and wealth accumulation of the United States mainly rely on harvesting high-quality global assets. However, China has become a fortress that is difficult to conquer. This is because China has a huge market and strong economic strength, and our country has strict controls on capital flows.
In this case, the United States' excessive issuance of currency became the only solution. However, this approach is not sustainable because excessive currency issuance will lead to the accumulation of debt and the expansion of stock market bubbles, which may eventually trigger the Great Depression and the dollar credit crisis.
The reason why the United States is suppressing China more and more harshly and wanting to transfer its industrial chain out of China is because they realize that China's strength and rise has posed a threat to the economic hegemony of the United States.
Only by moving the industrial chain out of China can we reduce our dependence on the Chinese economy and regain control of high-quality global assets.
Why can’t the U.S. raise interest rates to harvest China?
In today's world economic tide, the influence of the US dollar tide cannot be underestimated. However, China, as the world's second largest economy, has demonstrated strong resilience and stabilized its position. How did it do this?
China has a relatively independent monetary policy, which is an important cornerstone of its ability to withstand external shocks. Unlike some countries, China's monetary policy does not exactly follow the pace of the United States or other major economies.
This enables China to more autonomously adjust its economic policies to adapt to domestic and foreign economic environments in the face of global economic fluctuations.
Large-scale foreign exchange reserves are another magic weapon for China to resist the tide of the dollar. These foreign exchange reserves not only help stabilize the RMB exchange rate, but also provide support for China's international trade at critical moments.
When the U.S. dollar exchange rate fluctuates significantly, China's foreign exchange reserves can be used to buy or sell U.S. dollars, thereby keeping the RMB exchange rate stable.
However, this does not mean that China has never been affected by the dollar tide. China has also experienced many economic fluctuations in the past few decades.
But China has taken a series of measures to deal with these challenges, the most critical of which are strengthening foreign exchange controls and promoting the internationalization of the renminbi.
Strengthening foreign exchange controls can reduce the direct impact of external shocks on the domestic economy. By restricting capital flows and adjusting its exchange rate policy, China can resist the impact of the dollar tide to a certain extent.
At the same time, promoting the internationalization of the RMB is also an important means for China to cope with the tide of the US dollar. By increasing the use of the renminbi in the international market, China can reduce its dependence on the U.S. dollar, thereby reducing the impact of the U.S. dollar tide on the Chinese economy.
China has countermeasures
Why does China dare to counter the U.S. dollar's interest rate hike?
Before talking about this topic, we need to understand the impact of US dollar interest rate hikes on the Chinese economy. As the world's major reserve currency, the U.S. dollar's interest rate hike policy will cause capital to flow back to the United States, thus having a negative impact on other countries.
In China, US dollar interest rate hikes may lead to capital outflows, RMB depreciation and a series of other problems. However, why does China dare to take countermeasures?
One reason is the stability of China's economy. After years of development, China's economy has developed a strong ability to resist risks. China has huge foreign exchange reserves, which are sufficient to cope with the impact of capital outflows.
In addition, China's ability to regulate the economy has also been significantly improved, and it is able to take effective measures to stabilize the market.
Secondly, the reason why China dares to counter the U.S. dollar's interest rate hikes lies in the improvement of its international status. As the world's second largest economy, China's voice on the international stage continues to increase.
Against this background, China is confident in responding to various economic challenges and taking effective measures to safeguard national interests.
So, what countermeasures has China taken?
Since January 2023, the People's Bank of China has cut interest rates multiple times, lowering the one-year loan benchmark interest rate to 3.45%.
In addition, the central bank has also lowered the deposit reserve ratio several times in a row, bringing my country's current average statutory deposit reserve ratio to 7.4%. These policy measures aim to reduce social financing costs and increase money supply, thereby stimulating economic growth and expanding domestic demand.
However, China's financial dynamics do not stop there. A more striking change is that China is gradually reducing its dependence on U.S. debt.
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