Lotus Pavilion references cited: Tan Weidong reference
May the spring of reference: Tan Weidong The paper was deeply impressed by the views of this article, is quoted, would like to visit my blog reading this blog friendly to the United States were the text.
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inspiration Mao Zedong, China and the world enjoy more wonderful sense
gossip swirl Castle Pictures Castle Peak Castle Peak prose essays emotional nonsense Castle Zatan Mao Learn The essence of poetic message highlights historical information blog tips blog reading friends soundtrack work ha ha giggle nondescript modern love literature and art to make irresponsible remarks and healthy living, Castle Peak Castle Peak shelf video diary Body Art Pictures selected table food jokes appreciation skills to be self- Continued continued continued continued continued continued continued continued continued continued
Mao is human, not a god, but will last for ever, Long live Mao Zedong Thought is a must because of the; Mao Zedong and the people of the world has become a Mao Zedong was always stocked with a book and founder of the greatest in human history, equal with the great construction of the social system, he created the subversion of human history, heritage of the People's Republic of thousands of rule, established her state system, the basic system of government and all elements of (my teacher of Beijing University Professor Sha Jiansun language).
understand some of the history of human civilization, right, from the forms of logic have to come up with a to the inherent contradictions: the former never singing savior, thanks to our own; the latter affections: he is the people's great savior. However, the ages, at all times, continue to prove the entire history of mankind, people as a specific historical period of mankind as a whole collection, with the overwhelming indeed, carry a boat capsize in the history of creation and the energy and the actual decision may be. However, human groups and individuals, they have never weakness, shortsighted, and indecisive disadvantages, Mahatma worship, even with the totem ancestor worship, are not only simple superstition, can not be explained by the confusion. Jung and Nietzsche, who in the Western universities, in fact, has passed the complex psychology and philosophy of the , have shown that human beings and the public's own heart to self, the pursuit of the noble and great, passionate love and respect for sacred and timeless aesthetic, philosophizing, conscience, perception and vitality.
Jane Avenue in any case, not the Mahatma's inspiration, especially the example of the demonstration, and open people's insight and wisdom is limited; truth and conscience, no matter how obvious temptation and face the reality of the interests of the authority and power, oppression, or even just public opinion, preference, or even the prevalence of ignorance, the truth was impaired, especially the practice of truth, are required great courage and infinite power. Otherwise, how could they have to The first to eat crab . This deeply that the truth Du Xue, search and personally, not only wisdom, and courage, not only courage, but also for conscience and selfless. little knowledge, selfishness, class prejudice, arrogance arrogant, will be a human cognitive errors, will see the truth and obstruct human development, will also affect the ability to move forward with the possibility of human space.
Mao Zedong and his close comrades , that stalwart of the Chinese nation in the history of the body set Sovereigns and Five Emperors in one, centralized land of the elite Chinese heritage in one, set the world's people and leaders of outstanding mentor character, strong will, military expertise, quick response, Yu Hui-day vertical in a furnace, the scientific socialism, communism, bright, magnificent blend of internationalism, one stroke sweeping away the dirt for thousands of years of human rule, thousands of years to break the rule of society and the state machine, shake off the shackles of the spirit of the people, paralyzed people fetters the will and spirit alien to the spirit of architecture.
Marx and Engels stressed that the world revolution, indeed, stand to unite the world proletariat. They believe that with the world phenomena (the world market) connected to capitalism, only the working class revolution and the worldwide movement to be overturned. Lenin, although several countries to break into a country weak link in the international imperialism, into the theory and reality, while also pay attention to the Communist International and the world proletarian movement, but from Marx to Lenin, Stalin, did not solve the semi-colonial, semi-feudal and said the majority of developing countries or Third World issues of revolution and political construct, but also the theory and practice does not solve the industry developed under the leadership of the proletariat class and the unity of the Popular Front for the problem, not the formation of state relations and political power in the real live under the conditions of the people of internationalism and world revolution. In addition, although Lenin and Stalin to power and social the process of socialist construction, has met the international imperialism of capitalist restoration and surrounded, subversion, but the system power to prevent, punish corrupt, cultural awareness dams, deepening of the revolution, selection and training successors and echelon, etc., are failed to explore the theory of the formation of the system. In addition, the road of socialist construction and management, model to open up the problem, Mao Zedong in the above aspects of a comprehensive inheritance and forward, making his theory, theory and demonstrations, as people of the world leaders and human civilization spiritual mentor.
I have always been opposed to the conspiracy theory claims, and claims that everything is Yangmou. the international big game, big power strategy, the United States the modern colonial empires, international financial predators and strategic pursuit of intellectual struggle, are open, clear. However, after reading the Confessions of an Economic Hit Man, and concerns. not to mention the ; when you see dressed philanthropist coat, the name of religion under the pretext of human rights and international wealth and human wealth dogs conduct various predators, think of those who rely on, attached to these funds and institutions on economic elite and the liberal values as one finishes a specific dependency scholars, textbooks, mainstream media, official history and professional books can bring to what the human knowledge of what is supplied to a clear picture.
Mao Zedong was a thorough materialist. He was worried , are in the bloom, like the morning sun at eight or nine, who hopes in you Back in 1993, a wave higher than when the centenary, in the so-called When one hundred and ten anniversary of the birth, the breadth and depth not only in the higher level, but also created a and a great judge. And since 2003, , and admire, love, inheritance, and the formation of thought, the formation of flowing into a tidal wave, into a torrent, in the 9.6 million square kilometers of the vast land of China, in the five continents of the world's universal shock, and the response. this time Only at this time, people can truly understand Mao Zedong always attached importance to teachers by negative example, negative example of what a sees clearly, through time and space. He's always been the dichotomy, flowers and poisonous weeds of the theory and strategy is how extraordinary the Wisdom.
mind, reform and opening up, China had political, economic and cultural ecology of a natural evolution. from the armed seizure of power to defend the country showed their insurance home building, health and outside the ruling under the anti-development, originally from Marx's socialist political economy, scores starting from the fundamental Gongbaosichou, open the self-defeating, as the West does not win a battle since the open gap, to Gorbachev, Yeltsin abandoned the de facto state and people's political crime, single-handedly ruined the people of the international elite sovereignty and international front, camp, causing a global loss of people of wealth big, big shift, big hands, causing further suffering of the people and the Soviet Union and Eastern Soviet Union and Eastern countries, self-mutilation. Before that, Latin American countries, the African continent has long been fell into the trap of underdevelopment. Even Japan has experienced an economic miracle to reach the peak of the developed countries, after the development has also been cleverly placed into stagnation for a decade.
got a great view of China? once so , the present and the future is still possible, and may be able mainstay of the global transition to ultra-modern demonstration of a bright future, but not the road bumpy and full of all sorts of dangerous shoals reefs. Socialist capsized boat buried anywhere there's a huge risk.
Mao Zedong Thought, Mao Zedong banner of Mao Zedong is the only model and a beacon of enlightenment, is the only pool and the only hope. This includes most of China right their future. Chinese people's wisdom, risk from needless to say, the torment of conscience and the national shame of slavery under any normal person can not be bent by the. And when a rude awakening when you understand that, like life as dissidents and human rights fighters of the former Soviet Union Sol Qin Yan Nigeria, the collapse of the Soviet Union, Russia become second-rate countries, when the suffering people of the former Soviet Union, with a confession-like state of mind, back and sum up his life to the struggle with the so-called tyranny, not only not in exchange for prosperity of the motherland, it is personally ruined the strength and happiness of the people, that the torment of the soul can not bear anyone got the. perhaps China's certain right-wing die-hard activists, personal wealth and status in the little world, to entertain, transcend the world of the ; as classical mechanics and classical Newtonian cosmology is the theory of relativity and modern cosmology is Einstein's theory, science and the scientific paradigm with the naming of the banner of human society, the title and thought the same heritage. Engels sincere Objectively speaking: Type the characters called the convinced, nothing and in the This is not the people's will, and not subject to any fool with mercy. This is the history will, of course, fair, unless there is the same as the historical meaning of Chairman Mao and the guise of power. alive, some still alive, but he was dead. perfect. Men are not err too? Mao represented the first generation of the founding of the great heroes of the all-powerful era, the original image in the political environment has been successfully completed. the power of Mao Zedong and his K-Swiss and Zhou Enlai, Zhu De, the three the Cultural Revolution left a large legacy of the giant, who had formed a new historical starting point of China's reform and opening up the rich heritage and tradition, however, good deed goes unpunished, Gongbaosichou, especially greedy, greedy days of power for himself the extreme right-wing forces at home and abroad, but to their own poor performance, ruthless love accounted for, clever tongue-day yellow, all sorts of pretexts, extortion, and finally in extreme selfish, cruel, despicable, fall, rogue, at the slander, lies collusion, manufacturing appalling injustice, rush to catch the wind shadow, right and wrong, black and white mix, confound right and wrong, phony, the results to the Fortune Global financial war looting and without firing a shot, resource wars, trade wars, price wars, environmental warfare, and even space warfare, counter-terrorism unrestricted warfare, let the world finally understand the hypocrisy of their criminal intent and cunning.
Yes, that is the Asian financial crisis hit the world and Mongolia, is the Soviet Union and Eastern wake of the gay self-mutilation, the global financial crisis has awakened people of the world, people around the world to promote the Great Awakening, a coalition with large protests. In the middle class under the weight of debts out of breath, no longer trembling, let mercy, but to the original intimidation and self-critical eye turned to the greedy, vile Wall Street. Russia's richest man in prison, aware of right by his enemy who was later sent to a higher these teachers by negative example, larger and more magnificent altar!
Monday, January 3, 2011
Thursday, December 30, 2010
I think 600091-- Zhuantie financial crisis on China is a historic opportunity
Financial crisis on China is a historic opportunity
Time: October 21, 2008 07:27:39 How do the financial network
intensified by the United States triggered a worldwide financial crisis? The U.S. financial crisis on China opportunity or disaster? different conclusions will produce different responses, different measures will yield different results. but this is at a critical moment of China's economic rise, it is essential.
China historic opportunity for the economic rise depends on the emergence and the ability to seize the opportunity, and neither is dispensable. the face of the U.S. financial crisis and economic recession, a major historical opportunity might be thanks to the widespread, today's China than any other country and ever more with the ability to seize this opportunity, which, we should remain sober-minded.
one, is an opportunity rather than a disaster
1, China's monetary system, banking system and capital market system independent . Looking at the current international economic situation, due to the characteristics of financial integration, the developed countries, the crisis made the United States of Europe, Japan, Canada and other developed countries but a few. China is a little less affected by the crisis, the relative exposure to U.S. financial crisis outside, and can in this crisis, big countries can seize the initiative.
As China monetary system, capital markets and commercial banking system on the system are relatively independent, and the developed countries represented by the United States is not directly related to , which makes our commercial banking and capital markets and the U.S. subprime mortgage has not been too much of the financial crisis, Conger from China's macro-and micro-economic fundamentals are still good. both in the reform and opening up 30 years, or since the financial crisis in the United States, the Chinese economy continues to average annual growth of 10%, this growth did not because the United States in recent years economic recession in developed economies are affected. Even in the United States suffered under the impact of financial crisis, China's macro-economic growth and the performance of domestic enterprises increased micro-surface is still good. So the world economic recession has been called an oasis in the desert , with a strong ability to open up domestic markets and strong economic development potential.
3, our current fiscal and financial condition. and the international financial crisis in major developed countries experienced different characteristics: condition of the assets from the bank to see We have 46 trillion yuan total assets of savings banks, of which nearly 18 trillion of household savings, deposits and loans of about 12 trillion difference, capital is relatively abundant. this year, although the enterprise funds generally tight, but that is due to double-tight macro-policy decisions. Once we used to meet the lenient policy of financial crisis, it will have sufficient liquidity characteristics. Meanwhile, after a major commercial banks since 2005 listed, governance structure has also been a big improvement, therefore, banks Asset quality is also good. from the foreign exchange reserves of view, 1.8 trillion of reserves makes this financial crisis we face has enough self-protection capability and capacity to respond. from the state revenue, up to 5.1 trillion yuan in 2007 revenue, can we have the ability to protect themselves in this crisis.
4, China has the huge domestic market development potential.'s exports to China will have some impact, but China's 1.3 billion population and huge domestic demand market is the world unmatched in any other country, even in the United States in the context of financial crisis, while U.S. consumption regression make China's exports are subject to certain restrictions, but the huge domestic market, if passed loose monetary policy and fiscal policy started is completely compensate for export by domestic demand dropped. From an investment point, China's vast infrastructure of towns and cities a large number of projects require funding, promote economic development. either from the supply of funds or from the choice of projects, there are more Great potential. we deal with the ability of U.S. financial crisis is enough.
It is in this understanding, the international public opinion to China as a world economic recession The new leader, and the United States and other developed countries stand together to deal with the crisis. Some multinational companies and entrepreneurs to China as a safe haven to avoid the financial crisis and comparative selection of the best investments, their optimistic about China invest in China. At the same time, from the U.S. financial crisis triggered by the global crisis will inevitably bring about a global industry restructuring and new division of labor, China's migrant workers from low-end manufacturing and service industries to the high end of the financial restructuring.
In summary, this global
present the world hope that we can helping hand extended to the United States, this time we should also fulfill the Responsibilities, to show we stand together the world's major countries tide over the crisis of the gesture, grasp the historical opportunity, from their own actual conditions to find win-win Moshi.
Although China's huge foreign exchange reserves, bought almost half of U.S. Treasury bonds and the two Fang bonds, but the current U.S. Liangguo there are still some who believe that China should continue to approach help the United States to purchase U.S. Treasury bonds to save the market and the United States increase the purchase of U.S. Treasury bonds or direct the use of sovereign investment funds to corporate China to ; outside save China, Xiangbang ship, crisis does not negate the securities finance led to the capital market-based development trend of the modern financial system, commercial banks, the indirect financing and direct financing of the capital market will be to promote future economic development of China's two wheels. If the United States The crisis originated in the blind innovative financial derivatives and over-development, then today's China, financial sector development, especially in the development of direct financing of the capital market situation is still not enough. Therefore, China in which the financial stage of development and the United States is completely different, we must develop.
Second, the stock market is both a country's economic, social and political conditions barometer, is related to the status of a country's social stability, the most sensitive monitor. the face of the U.S. financial crisis , despite the fact that the opportunities in China than disaster, but why do people feel they are in the meantime? One important reason is because of China's stock market continued to slump over the past year, and the rate of decline far more than the United States. Why is China's national economic development of the world economy recession, an oasis in the desert, while China's stock market is the world's stock markets fell in Zhongzai Hu do?
the stock market in this state great harm in the long run. The first will be joint and several commercial banks, single leg financing of social responsibility, repeat the high rate of bad debts in 2005, there is systemic risk in the old rut. Second, the stock market plummeting, our economy will adversely affect the entity, which also in this year's fourth quarter and next year have been incidents . if not promptly take steps to activate the stock market, could lead to financial and other industries, the virtual economy and real economy into a vicious cycle, fall into this global economic catastrophe.
Obviously, both from the U.S. financial crisis rescue point of view, or from China's own need to vigorously develop the capital market for direct financing of demand, should revive the stock market from the start, active stock market, and inspired confidence. from the capital markets start to seize the opportunity. as long as stock prices in China and the United States to find a different The main reason the right remedy, you can more efficiently and quickly out of the decadent Bureau.
Fourth, China's stock market fell out of the U.S. financial crisis is the error
since October last year, China's stock market crash happens and the U.S. subprime mortgage crisis Overseas stock markets fell as a result of agreement in time. the stock market decline in accidental coincidence, so often the reason the Chinese stock market fell and the U.S. subprime mortgage crisis together, creating a market panic.
However, careful analysis of the Chinese stock market continued this year by U.S. stock market crash and the impact of the subprime crisis entirely different reason for the decline. decline in U.S. capital markets is the result of a U.S. recession and financial crisis, the subprime crisis caused a series of related issues. The Chinese stock market which a period of good macro-economic side, the quality of listed companies and micro-performance surface in the split share structure reform have been greatly enhanced after the last two years, 50% performance rate continues to increase, the U.S. stock market crash does not have any fundamental conditions. Meanwhile, China's stock market and the U.S. stock market system is not directly related to, the risk is not directly related to the A-share market, although from the appearance point of view, the two fall in the stock market are caused by a lack of confidence, but the U.S. investor lack of confidence caused by the laws of the market itself. The lack of investor confidence in China is artificially caused by the policy. In China, the impact of policy factors on the stock market factors than the market itself is much greater. Over the past year, China Like the stock market not only with the U.S. stock market fell, but still worse than the United States fall, whether the U.S. stock market is up is down, the Chinese stock market is down, the U.S. stock market decline, but has also dropped by 30%, while China's stock market fell more than 65 %, therefore, must drop out of the stock market is affected by U.S. financial crisis in error. the decline in the Chinese stock market is not affected by the United States, but has a special intrinsic reason.
five primary factor in the stock market is down listed companies in the listing prospectus said the temporarily non-tradable shares in circulation, leading investors into the market at high prices. In view of non-tradable state shares to enter the circulation, the outstanding shares of stock will be driven down, so the stock price to change is through non-tradable the right to receive shares in circulation, and in the process, could have caused the loss of tradable shares by the compensation of non-tradable shares. in the share reform, because the basic model with a non-tradable shares to tradable shares of bonus shares in the model, for example, 10 get 3, that is, non-tradable shares to tradable shares sent for every 10 shares held 3 shares. bonus shares, the non-tradable shares tradable shareholders is obtained. taking into account the non-tradable shares in circulation for a while stock shares to be the right to market pressure, so regulators also promulgated under the creeping flow of months later, negotiable 10%, 36 months later, only 100% of the circulation. which holds more than 5% of total share capital of non-tradable shares are called , is called month beginning the end of 2006, more than 1360 listed companies in addition more than 100, the basic practice finished. from the company's overall shares changed situation, while stock shares in, due to can not immediately sell the shares outstanding and, therefore, the overall stock market rose for the broader market, even Mogao to 6,000 points. But with the arrival of lifting the ban on ;, causing great pressure on the market.
2, on the period, that is three years from the date of listing before circulation. The sale of shares in circulation privileges are called Listing can be in circulation a year later, only one year lock-up period. This sale of shares in circulation privileges are called In May 2006 new from the old rear generated. the so-called new from the old is May 18, 2006 is limited, after which new listings are all negotiable company, has been split share structure problem does not exist . That is, once a year or three-year lockup period ended, these stocks do not have to divert investors through the stock bonus issue, will automatically flow. Therefore, investors buy such stocks, you should consider this risk. For example, circulation in the context of overseas stock IPO, the price-earnings ratio is usually between 8-12 times, the price is relatively low. However, the stock market in the stock reform of the old and new program off, the issue of 298 shares, issued up to 30 times the average price-earnings ratio , up to 99 times the China Ocean, than actually tradable shares issued during the price-earnings ratio is also high. The reason lies with our From May 18, 2006 is already starting to buy shares tradable shares, and must be taken into account when buying it for a year or three years will automatically run the risk, not to be such a high subscription prices in the primary market and secondary market trading. but because of the almost no publicity, resulting in poor investors are still unconsciously when share-trading by buying stocks thinking.
3, ; size limit rear, the 298 newly issued stocks, because, like finance, oil and coal are more large-cap stocks, Non-Zuojia shares, which investors in the market and more than ten dollars or even tens of dollars in sharp contrast IPO price. Even if the stock market Diedao 1,000 points, br> So far, the lifting of the The more urgent, the market felt down in the large. so this is the stock market the most important reason not lift their heads.
1.18 trillion whether the restricted shares will out in the real world, but investors consider investment risk is such thinking, because in reality there the possibility of them out. If we fall in the stock market situation is so simple and down come the more the stock market, you are not out of restricted shares, and produce the The main contradiction stock prices, then we can not find effective countermeasures to solve this problem,
six, the price reduction of major shareholders to resolve self-locking pressure of restricted shares
zero-cost model if we can come to the current the stock market down the main contradiction is the coupons, or repurchase capital injection, are not the right prescription. China's stock market not because of lack of confidence due to lack of money, but the policy has resulted in lack of confidence. Therefore, the current stability in the key Chinese stock market is to address the ; size limit a problem not be far behind. because from a subjective point of view, China's stock market parties, whether regulators or shareholders, whether it is a major shareholder of listed companies or securities firms and other intermediary agencies are looking to achieve increases in the stock market the win. but from an objective point of view, whether it is China's national economy from the macro side, or the performance of listed companies from the micro side, the stock market are rising with the external environment and internal conditions.
Specifically: by major shareholders lifting of the ban on the Restricted Shares may be in circulation after the reserve price for the lock on a voluntary basis, to issue restricted shares of the risk from a simple time delay locks, lock the price adjusted to completely resolve.
1, what is the price reduction of major shareholders self-locking. the so-called voluntary price lock, is defined by major shareholders of listed companies, voluntary ban of non-tradable shares held by the price reduction can be locked in a default on the flow reserve price. This price is defined by its major shareholders default of a minimum price negotiable, and its share price held above this level can only sell, but lower than the price of its shares will be automatically locked and no longer sold. This price can be listed under the Company facts and with reference to the broader market in 3000-5000 points to determine the company's stock price. Suppose a company's major shareholders can be self-locking flow reserve price set at 15 yuan, that is, shares held by only 15 yuan or more to sell. If Because of its sale, the stock fell to 15 yuan, will be automatically locked.
2, reduction of prices of major shareholders from the lock program
(1) large shareholders can be self-locking motion flow reserve price. From company, legally speaking, any more than 5% of the shareholders of the motion can be made in accordance with legal procedures related party transactions to vote, and this motion is sponsored by the self-restraint, it is consistent with minority shareholders and the company's interests and No worries of being rejected, and no legal obstacles.
(2) the motion is passed, to public disclosure in the media, the major shareholder of the voluntary reserve price negotiable lock made public, and shareholders of the motion its other motion, once adopted, should be observed. At the same time to check the implementation of the two exchanges in Shanghai and Shenzhen.
(3) If the company's future occurrence of bonus issue and share transfer, which can be a corresponding ex-dividend distribution under the reserve price shift.
this motion should be initiated by the major shareholder, made a voluntary win-win for the realization of Gushi's. which is the major shareholder of the core price of the voluntary lock.
3, corresponding measures
specific approach may be to: take full advantage of the characteristics of listed companies in China due to the dominance, nearly 860 state-owned listed companies initiated by the SAC to support the major shareholders of listed companies tradable upset the self-locking. while others may be more than 800 listed companies from the private Securities Industry Association to promote a unified and coordinated. China Securities Regulatory Commission in the process only for those who can flow through the major shareholders of listed companies reserve the motion of the priority given to refinancing.
4, the implementation of the major shareholders of listed companies feasibility
the current level of China's stock market fell to the present, not only loss of function of the stock market, and the function of the refinancing of listed companies, value-added functions can not be achieved. This is a multi-lose situation. from the author and ten Several major shareholders of listed companies access to view, can flow through the reserve price they are willing to self-locking to the market investors clearly this information, discourage non-tradable shares in circulation at any time out of concern, to achieve its share price rise. Again, many listed companies The manager is confident his company, but under the current inventory of spaces, can not do anything. Therefore, if a little guidance, the parties will be able to reach a consensus on this issue, because it is consistent with the common interests. can flow reserve price can be achieved. At present some companies have already enacted their own similar information, but did not effect the formation of groups, the overall decline in the broader market, the voice was faint and did not play a role.
5, which practices and share reform is not a thing to promote such a reform measures
need to do two shows: first, the listed company may not flow reserve price is the second self-locking share reform. First, the voluntary measures proposed by major shareholders There is no problem of mandatory government departments. Second, to determine the reserve price is negotiable by the major shareholders of listed companies according to their own situation in 3000 points to 5000 points made voluntary, not an externally imposed, uniform the price of provisions. negotiable base prices too low, the stock price will be low; can flow reserve price set too high, its shares will be high. because not the point, no investors on holdings of major shareholders of the company's concerns. Second, the largest shareholder base price negotiable price of self-locking is a constraint, rather than the kind of group behavior, rather than individual behavior, then, is to resolve the systematic risk of shares, boost market confidence.
6, introduced the measure of time is the key to the stock market a year
decline, although its negative effects have begun to emerge in the listed company, but the overall look of the macroeconomic performance of surface and surface micro-listed companies have not gone bad, and implementation of our major shareholders by adjusting the flow of the reserve price can be self-locking measures, but also can play a role. If until next year, the market and listed companies into a vicious cycle once, even if there are good measures, it will return to days without surgery. Therefore, our fourth quarter of this year through policy measures to reverse the continuing downturn in Stock key.
seven different ships Xiangbang, the war of choice we have to perform in Hong Kong
responsible big country, but also commitment and developed countries tide over the crisis, an innovative way of thinking, that is, first the general decline in world capital markets, the process of , look for a favorable spot. it can take the rise of capital markets recovery mission. and this, to China, the choice of the war, the most suitable location is in Hong Kong.
60% of the listed Hong Kong market market capitalization are from the mainland H shares and red chips companies, Hong Kong's economy supported mainly by the Mainland, but in the financial system, monetary system is entirely in Hong Kong and the United States currency, financial system integration. If in the Mainland market is relatively more independent in the context of the credit crisis still had a greater negative impact, it is mainly passed over from Hong Kong. So, invigorate the Hong Kong pawn, can drive the United States and other countries outside of the capital markets, internal to and A shares have a positive interaction, rather than through the piping, the risk of transmission to the outside to inside.
specific approach allows CIC strategic focus from U.S. to Hong Kong, Hong Kong to hold the forward positions, with to absorb excess foreign exchange reserves in Hong Kong H shares, from Weiweijiuzhao purposes. Now if China in the international capital markets for investment in any location, will have a Buffett effect, the Chinese shot, and can inspire the confidence of the world. bridgehead for occupation of Hong Kong, We both assumed the responsibility of great powers, the United States agreed to hand Xiangbang, but also realized the stone carving of four purposes: first, to buy H shares, to resolve the risk of excessive foreign exchange reserves. Second, this time to buy has great investment value H-shares, throwing dollars, to buy back their own shares to hedge the basis of industry, but also their value. Third, the Hong Kong market outreach United States, mainland China within the Union. We invest in Hong Kong, the Hong Kong driven up to be equal to outside the United States to help. Fourth, Hong Kong H shares to A shares have a positive role in boosting, to hold this bridgehead to block the outside world into financial crisis, the panic in Mainland China, will lead to loss of confidence in the channel. < br> buy H shares of the capital markets from Hong Kong to overseas capital markets passing shot Xiangbang initiatives. Externally, you can pull the recovery in overseas markets, after all, the sinking in the world have a place in the capital markets --- Hong Kong, there have been hope. domestic A-share market is not only no longer passed to the negative impact of U.S. subprime mortgage crisis and the recovery of H shares also rose to lead A shares. fight the battle of Hong Kong to make an inventory taken an important step in the overall .
short, grasp this great opportunity to make the historic rise of China is the key to activate the mainland A share market and bought back a . discipline. Peng. in. countries. certificate. securities. Report
Time: October 21, 2008 07:27:39 How do the financial network
intensified by the United States triggered a worldwide financial crisis? The U.S. financial crisis on China opportunity or disaster? different conclusions will produce different responses, different measures will yield different results. but this is at a critical moment of China's economic rise, it is essential.
China historic opportunity for the economic rise depends on the emergence and the ability to seize the opportunity, and neither is dispensable. the face of the U.S. financial crisis and economic recession, a major historical opportunity might be thanks to the widespread, today's China than any other country and ever more with the ability to seize this opportunity, which, we should remain sober-minded.
one, is an opportunity rather than a disaster
1, China's monetary system, banking system and capital market system independent . Looking at the current international economic situation, due to the characteristics of financial integration, the developed countries, the crisis made the United States of Europe, Japan, Canada and other developed countries but a few. China is a little less affected by the crisis, the relative exposure to U.S. financial crisis outside, and can in this crisis, big countries can seize the initiative.
As China monetary system, capital markets and commercial banking system on the system are relatively independent, and the developed countries represented by the United States is not directly related to , which makes our commercial banking and capital markets and the U.S. subprime mortgage has not been too much of the financial crisis, Conger from China's macro-and micro-economic fundamentals are still good. both in the reform and opening up 30 years, or since the financial crisis in the United States, the Chinese economy continues to average annual growth of 10%, this growth did not because the United States in recent years economic recession in developed economies are affected. Even in the United States suffered under the impact of financial crisis, China's macro-economic growth and the performance of domestic enterprises increased micro-surface is still good. So the world economic recession has been called an oasis in the desert , with a strong ability to open up domestic markets and strong economic development potential.
3, our current fiscal and financial condition. and the international financial crisis in major developed countries experienced different characteristics: condition of the assets from the bank to see We have 46 trillion yuan total assets of savings banks, of which nearly 18 trillion of household savings, deposits and loans of about 12 trillion difference, capital is relatively abundant. this year, although the enterprise funds generally tight, but that is due to double-tight macro-policy decisions. Once we used to meet the lenient policy of financial crisis, it will have sufficient liquidity characteristics. Meanwhile, after a major commercial banks since 2005 listed, governance structure has also been a big improvement, therefore, banks Asset quality is also good. from the foreign exchange reserves of view, 1.8 trillion of reserves makes this financial crisis we face has enough self-protection capability and capacity to respond. from the state revenue, up to 5.1 trillion yuan in 2007 revenue, can we have the ability to protect themselves in this crisis.
4, China has the huge domestic market development potential.'s exports to China will have some impact, but China's 1.3 billion population and huge domestic demand market is the world unmatched in any other country, even in the United States in the context of financial crisis, while U.S. consumption regression make China's exports are subject to certain restrictions, but the huge domestic market, if passed loose monetary policy and fiscal policy started is completely compensate for export by domestic demand dropped. From an investment point, China's vast infrastructure of towns and cities a large number of projects require funding, promote economic development. either from the supply of funds or from the choice of projects, there are more Great potential. we deal with the ability of U.S. financial crisis is enough.
It is in this understanding, the international public opinion to China as a world economic recession The new leader, and the United States and other developed countries stand together to deal with the crisis. Some multinational companies and entrepreneurs to China as a safe haven to avoid the financial crisis and comparative selection of the best investments, their optimistic about China invest in China. At the same time, from the U.S. financial crisis triggered by the global crisis will inevitably bring about a global industry restructuring and new division of labor, China's migrant workers from low-end manufacturing and service industries to the high end of the financial restructuring.
In summary, this global
present the world hope that we can helping hand extended to the United States, this time we should also fulfill the Responsibilities, to show we stand together the world's major countries tide over the crisis of the gesture, grasp the historical opportunity, from their own actual conditions to find win-win Moshi.
Although China's huge foreign exchange reserves, bought almost half of U.S. Treasury bonds and the two Fang bonds, but the current U.S. Liangguo there are still some who believe that China should continue to approach help the United States to purchase U.S. Treasury bonds to save the market and the United States increase the purchase of U.S. Treasury bonds or direct the use of sovereign investment funds to corporate China to ; outside save China, Xiangbang ship, crisis does not negate the securities finance led to the capital market-based development trend of the modern financial system, commercial banks, the indirect financing and direct financing of the capital market will be to promote future economic development of China's two wheels. If the United States The crisis originated in the blind innovative financial derivatives and over-development, then today's China, financial sector development, especially in the development of direct financing of the capital market situation is still not enough. Therefore, China in which the financial stage of development and the United States is completely different, we must develop.
Second, the stock market is both a country's economic, social and political conditions barometer, is related to the status of a country's social stability, the most sensitive monitor. the face of the U.S. financial crisis , despite the fact that the opportunities in China than disaster, but why do people feel they are in the meantime? One important reason is because of China's stock market continued to slump over the past year, and the rate of decline far more than the United States. Why is China's national economic development of the world economy recession, an oasis in the desert, while China's stock market is the world's stock markets fell in Zhongzai Hu do?
the stock market in this state great harm in the long run. The first will be joint and several commercial banks, single leg financing of social responsibility, repeat the high rate of bad debts in 2005, there is systemic risk in the old rut. Second, the stock market plummeting, our economy will adversely affect the entity, which also in this year's fourth quarter and next year have been incidents . if not promptly take steps to activate the stock market, could lead to financial and other industries, the virtual economy and real economy into a vicious cycle, fall into this global economic catastrophe.
Obviously, both from the U.S. financial crisis rescue point of view, or from China's own need to vigorously develop the capital market for direct financing of demand, should revive the stock market from the start, active stock market, and inspired confidence. from the capital markets start to seize the opportunity. as long as stock prices in China and the United States to find a different The main reason the right remedy, you can more efficiently and quickly out of the decadent Bureau.
Fourth, China's stock market fell out of the U.S. financial crisis is the error
since October last year, China's stock market crash happens and the U.S. subprime mortgage crisis Overseas stock markets fell as a result of agreement in time. the stock market decline in accidental coincidence, so often the reason the Chinese stock market fell and the U.S. subprime mortgage crisis together, creating a market panic.
However, careful analysis of the Chinese stock market continued this year by U.S. stock market crash and the impact of the subprime crisis entirely different reason for the decline. decline in U.S. capital markets is the result of a U.S. recession and financial crisis, the subprime crisis caused a series of related issues. The Chinese stock market which a period of good macro-economic side, the quality of listed companies and micro-performance surface in the split share structure reform have been greatly enhanced after the last two years, 50% performance rate continues to increase, the U.S. stock market crash does not have any fundamental conditions. Meanwhile, China's stock market and the U.S. stock market system is not directly related to, the risk is not directly related to the A-share market, although from the appearance point of view, the two fall in the stock market are caused by a lack of confidence, but the U.S. investor lack of confidence caused by the laws of the market itself. The lack of investor confidence in China is artificially caused by the policy. In China, the impact of policy factors on the stock market factors than the market itself is much greater. Over the past year, China Like the stock market not only with the U.S. stock market fell, but still worse than the United States fall, whether the U.S. stock market is up is down, the Chinese stock market is down, the U.S. stock market decline, but has also dropped by 30%, while China's stock market fell more than 65 %, therefore, must drop out of the stock market is affected by U.S. financial crisis in error. the decline in the Chinese stock market is not affected by the United States, but has a special intrinsic reason.
five primary factor in the stock market is down listed companies in the listing prospectus said the temporarily non-tradable shares in circulation, leading investors into the market at high prices. In view of non-tradable state shares to enter the circulation, the outstanding shares of stock will be driven down, so the stock price to change is through non-tradable the right to receive shares in circulation, and in the process, could have caused the loss of tradable shares by the compensation of non-tradable shares. in the share reform, because the basic model with a non-tradable shares to tradable shares of bonus shares in the model, for example, 10 get 3, that is, non-tradable shares to tradable shares sent for every 10 shares held 3 shares. bonus shares, the non-tradable shares tradable shareholders is obtained. taking into account the non-tradable shares in circulation for a while stock shares to be the right to market pressure, so regulators also promulgated under the creeping flow of months later, negotiable 10%, 36 months later, only 100% of the circulation. which holds more than 5% of total share capital of non-tradable shares are called , is called month beginning the end of 2006, more than 1360 listed companies in addition more than 100, the basic practice finished. from the company's overall shares changed situation, while stock shares in, due to can not immediately sell the shares outstanding and, therefore, the overall stock market rose for the broader market, even Mogao to 6,000 points. But with the arrival of lifting the ban on ;, causing great pressure on the market.
2, on the period, that is three years from the date of listing before circulation. The sale of shares in circulation privileges are called Listing can be in circulation a year later, only one year lock-up period. This sale of shares in circulation privileges are called In May 2006 new from the old rear generated. the so-called new from the old is May 18, 2006 is limited, after which new listings are all negotiable company, has been split share structure problem does not exist . That is, once a year or three-year lockup period ended, these stocks do not have to divert investors through the stock bonus issue, will automatically flow. Therefore, investors buy such stocks, you should consider this risk. For example, circulation in the context of overseas stock IPO, the price-earnings ratio is usually between 8-12 times, the price is relatively low. However, the stock market in the stock reform of the old and new program off, the issue of 298 shares, issued up to 30 times the average price-earnings ratio , up to 99 times the China Ocean, than actually tradable shares issued during the price-earnings ratio is also high. The reason lies with our From May 18, 2006 is already starting to buy shares tradable shares, and must be taken into account when buying it for a year or three years will automatically run the risk, not to be such a high subscription prices in the primary market and secondary market trading. but because of the almost no publicity, resulting in poor investors are still unconsciously when share-trading by buying stocks thinking.
3, ; size limit rear, the 298 newly issued stocks, because, like finance, oil and coal are more large-cap stocks, Non-Zuojia shares, which investors in the market and more than ten dollars or even tens of dollars in sharp contrast IPO price. Even if the stock market Diedao 1,000 points, br> So far, the lifting of the The more urgent, the market felt down in the large. so this is the stock market the most important reason not lift their heads.
1.18 trillion whether the restricted shares will out in the real world, but investors consider investment risk is such thinking, because in reality there the possibility of them out. If we fall in the stock market situation is so simple and down come the more the stock market, you are not out of restricted shares, and produce the The main contradiction stock prices, then we can not find effective countermeasures to solve this problem,
six, the price reduction of major shareholders to resolve self-locking pressure of restricted shares
zero-cost model if we can come to the current the stock market down the main contradiction is the coupons, or repurchase capital injection, are not the right prescription. China's stock market not because of lack of confidence due to lack of money, but the policy has resulted in lack of confidence. Therefore, the current stability in the key Chinese stock market is to address the ; size limit a problem not be far behind. because from a subjective point of view, China's stock market parties, whether regulators or shareholders, whether it is a major shareholder of listed companies or securities firms and other intermediary agencies are looking to achieve increases in the stock market the win. but from an objective point of view, whether it is China's national economy from the macro side, or the performance of listed companies from the micro side, the stock market are rising with the external environment and internal conditions.
Specifically: by major shareholders lifting of the ban on the Restricted Shares may be in circulation after the reserve price for the lock on a voluntary basis, to issue restricted shares of the risk from a simple time delay locks, lock the price adjusted to completely resolve.
1, what is the price reduction of major shareholders self-locking. the so-called voluntary price lock, is defined by major shareholders of listed companies, voluntary ban of non-tradable shares held by the price reduction can be locked in a default on the flow reserve price. This price is defined by its major shareholders default of a minimum price negotiable, and its share price held above this level can only sell, but lower than the price of its shares will be automatically locked and no longer sold. This price can be listed under the Company facts and with reference to the broader market in 3000-5000 points to determine the company's stock price. Suppose a company's major shareholders can be self-locking flow reserve price set at 15 yuan, that is, shares held by only 15 yuan or more to sell. If Because of its sale, the stock fell to 15 yuan, will be automatically locked.
2, reduction of prices of major shareholders from the lock program
(1) large shareholders can be self-locking motion flow reserve price. From company, legally speaking, any more than 5% of the shareholders of the motion can be made in accordance with legal procedures related party transactions to vote, and this motion is sponsored by the self-restraint, it is consistent with minority shareholders and the company's interests and No worries of being rejected, and no legal obstacles.
(2) the motion is passed, to public disclosure in the media, the major shareholder of the voluntary reserve price negotiable lock made public, and shareholders of the motion its other motion, once adopted, should be observed. At the same time to check the implementation of the two exchanges in Shanghai and Shenzhen.
(3) If the company's future occurrence of bonus issue and share transfer, which can be a corresponding ex-dividend distribution under the reserve price shift.
this motion should be initiated by the major shareholder, made a voluntary win-win for the realization of Gushi's. which is the major shareholder of the core price of the voluntary lock.
3, corresponding measures
specific approach may be to: take full advantage of the characteristics of listed companies in China due to the dominance, nearly 860 state-owned listed companies initiated by the SAC to support the major shareholders of listed companies tradable upset the self-locking. while others may be more than 800 listed companies from the private Securities Industry Association to promote a unified and coordinated. China Securities Regulatory Commission in the process only for those who can flow through the major shareholders of listed companies reserve the motion of the priority given to refinancing.
4, the implementation of the major shareholders of listed companies feasibility
the current level of China's stock market fell to the present, not only loss of function of the stock market, and the function of the refinancing of listed companies, value-added functions can not be achieved. This is a multi-lose situation. from the author and ten Several major shareholders of listed companies access to view, can flow through the reserve price they are willing to self-locking to the market investors clearly this information, discourage non-tradable shares in circulation at any time out of concern, to achieve its share price rise. Again, many listed companies The manager is confident his company, but under the current inventory of spaces, can not do anything. Therefore, if a little guidance, the parties will be able to reach a consensus on this issue, because it is consistent with the common interests. can flow reserve price can be achieved. At present some companies have already enacted their own similar information, but did not effect the formation of groups, the overall decline in the broader market, the voice was faint and did not play a role.
5, which practices and share reform is not a thing to promote such a reform measures
need to do two shows: first, the listed company may not flow reserve price is the second self-locking share reform. First, the voluntary measures proposed by major shareholders There is no problem of mandatory government departments. Second, to determine the reserve price is negotiable by the major shareholders of listed companies according to their own situation in 3000 points to 5000 points made voluntary, not an externally imposed, uniform the price of provisions. negotiable base prices too low, the stock price will be low; can flow reserve price set too high, its shares will be high. because not the point, no investors on holdings of major shareholders of the company's concerns. Second, the largest shareholder base price negotiable price of self-locking is a constraint, rather than the kind of group behavior, rather than individual behavior, then, is to resolve the systematic risk of shares, boost market confidence.
6, introduced the measure of time is the key to the stock market a year
decline, although its negative effects have begun to emerge in the listed company, but the overall look of the macroeconomic performance of surface and surface micro-listed companies have not gone bad, and implementation of our major shareholders by adjusting the flow of the reserve price can be self-locking measures, but also can play a role. If until next year, the market and listed companies into a vicious cycle once, even if there are good measures, it will return to days without surgery. Therefore, our fourth quarter of this year through policy measures to reverse the continuing downturn in Stock key.
seven different ships Xiangbang, the war of choice we have to perform in Hong Kong
responsible big country, but also commitment and developed countries tide over the crisis, an innovative way of thinking, that is, first the general decline in world capital markets, the process of , look for a favorable spot. it can take the rise of capital markets recovery mission. and this, to China, the choice of the war, the most suitable location is in Hong Kong.
60% of the listed Hong Kong market market capitalization are from the mainland H shares and red chips companies, Hong Kong's economy supported mainly by the Mainland, but in the financial system, monetary system is entirely in Hong Kong and the United States currency, financial system integration. If in the Mainland market is relatively more independent in the context of the credit crisis still had a greater negative impact, it is mainly passed over from Hong Kong. So, invigorate the Hong Kong pawn, can drive the United States and other countries outside of the capital markets, internal to and A shares have a positive interaction, rather than through the piping, the risk of transmission to the outside to inside.
specific approach allows CIC strategic focus from U.S. to Hong Kong, Hong Kong to hold the forward positions, with to absorb excess foreign exchange reserves in Hong Kong H shares, from Weiweijiuzhao purposes. Now if China in the international capital markets for investment in any location, will have a Buffett effect, the Chinese shot, and can inspire the confidence of the world. bridgehead for occupation of Hong Kong, We both assumed the responsibility of great powers, the United States agreed to hand Xiangbang, but also realized the stone carving of four purposes: first, to buy H shares, to resolve the risk of excessive foreign exchange reserves. Second, this time to buy has great investment value H-shares, throwing dollars, to buy back their own shares to hedge the basis of industry, but also their value. Third, the Hong Kong market outreach United States, mainland China within the Union. We invest in Hong Kong, the Hong Kong driven up to be equal to outside the United States to help. Fourth, Hong Kong H shares to A shares have a positive role in boosting, to hold this bridgehead to block the outside world into financial crisis, the panic in Mainland China, will lead to loss of confidence in the channel. < br> buy H shares of the capital markets from Hong Kong to overseas capital markets passing shot Xiangbang initiatives. Externally, you can pull the recovery in overseas markets, after all, the sinking in the world have a place in the capital markets --- Hong Kong, there have been hope. domestic A-share market is not only no longer passed to the negative impact of U.S. subprime mortgage crisis and the recovery of H shares also rose to lead A shares. fight the battle of Hong Kong to make an inventory taken an important step in the overall .
short, grasp this great opportunity to make the historic rise of China is the key to activate the mainland A share market and bought back a . discipline. Peng. in. countries. certificate. securities. Report
Wednesday, December 29, 2010
Do sheep or a wolf
I'll wait for the girls eventually left.
Stupid man, and when she needed you most, but you are waiting;
stupid man, in her most want to hear you say, you are in the closed his own mouth;
so you do not calm, then there is no security;
you are so not cool, so there is no self-confidence;
devil's help poor man like you!
Why do they always lost after that go to make up?
Why do not you be strong in the face of every difficulty?
Why do you have to do something so indecisive?
do not blame you for environmental education;
Do not blame society injustice;
not to continue to blame yourself!!
looked up,
like wolves quite your chest,
wail loudly,
two emitting green light,
forward it!
Stupid man, and when she needed you most, but you are waiting;
stupid man, in her most want to hear you say, you are in the closed his own mouth;
so you do not calm, then there is no security;
you are so not cool, so there is no self-confidence;
devil's help poor man like you!
Why do they always lost after that go to make up?
Why do not you be strong in the face of every difficulty?
Why do you have to do something so indecisive?
do not blame you for environmental education;
Do not blame society injustice;
not to continue to blame yourself!!
looked up,
like wolves quite your chest,
wail loudly,
two emitting green light,
forward it!
Tuesday, December 28, 2010
Made a meal today, is a meal of rice poor old Beijing in the past, but the big fish used to eat ...
Back home has been at ten o'clock, tired and hungry do not want to move on, go out to eat but also to eat many times those who use the N 3 Wotou to see there is a bottle shrimp, onions and ginger to see the kitchen have to decide yourself out.
first three steamed corn bread cut into one centimeter square pieces, then shred the onion ginger, ignition pour the oil pan, oil heat, put pepper, color pepper and other flavors out, the steamed corn bread pieces into the stir fry. attention to the small fire, should be well done easy to Wotou burned, to make its external coke tender, so tender to reach outside the coke after the pan aside. put a little oil to the pot and bring to Qicheng hot, pour the shrimp and stir fry onion ginger silk, fragrance will come out into the stir fry steamed corn bread pieces evenly, according to taste add a little salt, add a little chicken, even after the point of sesame oil stir fry pan. Note that while they are hot!
fragrant but not greasy, the regulation of appetite a light meal, have a chance to try. listen to the elders said to be in the past coolies keep a car pull to eat, but I eat something delicious, do not last incarnation was a Camel?
first three steamed corn bread cut into one centimeter square pieces, then shred the onion ginger, ignition pour the oil pan, oil heat, put pepper, color pepper and other flavors out, the steamed corn bread pieces into the stir fry. attention to the small fire, should be well done easy to Wotou burned, to make its external coke tender, so tender to reach outside the coke after the pan aside. put a little oil to the pot and bring to Qicheng hot, pour the shrimp and stir fry onion ginger silk, fragrance will come out into the stir fry steamed corn bread pieces evenly, according to taste add a little salt, add a little chicken, even after the point of sesame oil stir fry pan. Note that while they are hot!
fragrant but not greasy, the regulation of appetite a light meal, have a chance to try. listen to the elders said to be in the past coolies keep a car pull to eat, but I eat something delicious, do not last incarnation was a Camel?
Monday, December 27, 2010
Wang Xin won the Chinese delegation for the Beijing Olympic Games gold XI
Basic information
Name: Wang Xin
Gender: Female
date of birth :1992-08-11
Hometown: Wuhan, Hubei
Height: 1.42 m
Weight: 28 kg
Project: Diving
up Company: Tianjin
Diving Team Coach: Zhao Jin
Games Registration Project: Diving [the women's 10 meter platform single or double]
best: the 2008 Beijing Olympic Games women's 10m springboard title (partner Chen Ruolin)
m2000 sports experience
1998 年 amateur gymnastics team in Wuhan City, the coach Yu Chuan-fa.
2000 in Wuhan City amateur diving team, coach Wang Cuidi.
2003 in Tianjin diving team, the coach is Tanliang De, Li Qing.
2006 National Diving Team coach Zhao Jin.
main achievement in the National Youth Championships in the women's single champion Shimi Tai.
World Youth Championship the women Shimi Tai runner-up.
2006 Asian Games in Doha women's 10m platform champion.
2007 World Championships women's 10 meter platform title.
2008 World Cup runner-up women's 10 meter platform, the women's 10 Double-meter platform title (Dadang Chen Ruolin).
2008 年 Good Luck Beijing World Cup women's double Shimi Tai Diving Champion (partner Chen Ruolin).
2008 Beijing Olympic Games Women's Double-meter platform title (partner Chen Ruolin).
upbringing
Wang Xin from a poor family in Wuhan, Hubei, when she is Wang Ruoxue. Then enter the Tsinghua University diving team, diving queen Fu Mingxia coaches in Finland that ; weak practice gymnastics, diving into two years later. She also recalled their previous fear of water, a child and the parents went to a swimming pool, did not dare to go, only guarding the stage, playing in the pool. Wang Xin said: just to practice diving, I am still afraid of the water, the coach here at my waist was a rope tied together, has been reluctant to see me, and she took me to push down, and then I tried the shore ah plan. This struggle 5 days, I learned how to swim. The shift, as she followed the national team into the door soon. While still a child, but Wang Xin of the perseverance, the character of Sophie in the band just so that she is always like a churn hundreds of times, many times repeated, in this process, Wang Xin grew up little by little, in such a growth process, Wang Xin and slowly go higher and higher, eventually, this girl laugh stood in the Olympic gold medal podium, let the world remember her smile.
Name: Wang Xin
Gender: Female
date of birth :1992-08-11
Hometown: Wuhan, Hubei
Height: 1.42 m
Weight: 28 kg
Project: Diving
up Company: Tianjin
Diving Team Coach: Zhao Jin
Games Registration Project: Diving [the women's 10 meter platform single or double]
best: the 2008 Beijing Olympic Games women's 10m springboard title (partner Chen Ruolin)
m2000 sports experience
1998 年 amateur gymnastics team in Wuhan City, the coach Yu Chuan-fa.
2000 in Wuhan City amateur diving team, coach Wang Cuidi.
2003 in Tianjin diving team, the coach is Tanliang De, Li Qing.
2006 National Diving Team coach Zhao Jin.
main achievement in the National Youth Championships in the women's single champion Shimi Tai.
World Youth Championship the women Shimi Tai runner-up.
2006 Asian Games in Doha women's 10m platform champion.
2007 World Championships women's 10 meter platform title.
2008 World Cup runner-up women's 10 meter platform, the women's 10 Double-meter platform title (Dadang Chen Ruolin).
2008 年 Good Luck Beijing World Cup women's double Shimi Tai Diving Champion (partner Chen Ruolin).
2008 Beijing Olympic Games Women's Double-meter platform title (partner Chen Ruolin).
upbringing
Wang Xin from a poor family in Wuhan, Hubei, when she is Wang Ruoxue. Then enter the Tsinghua University diving team, diving queen Fu Mingxia coaches in Finland that ; weak practice gymnastics, diving into two years later. She also recalled their previous fear of water, a child and the parents went to a swimming pool, did not dare to go, only guarding the stage, playing in the pool. Wang Xin said: just to practice diving, I am still afraid of the water, the coach here at my waist was a rope tied together, has been reluctant to see me, and she took me to push down, and then I tried the shore ah plan. This struggle 5 days, I learned how to swim. The shift, as she followed the national team into the door soon. While still a child, but Wang Xin of the perseverance, the character of Sophie in the band just so that she is always like a churn hundreds of times, many times repeated, in this process, Wang Xin grew up little by little, in such a growth process, Wang Xin and slowly go higher and higher, eventually, this girl laugh stood in the Olympic gold medal podium, let the world remember her smile.
Sunday, December 26, 2010
How to choose new main industry in transition
How to choose new main industry in transition?
Zhejiang Council meeting of July hot topic
turned oil into the energy sector hh
is diversified or focused on the core business? main industry on how to continue expansion into their core competitiveness? diversification is facing what kind of problems? Zhejiang enterprises in transition are faced with many new options. To do this, achievements in the development of their enterprises for the number of transformation and the current transformation own experiences, to share together with the Zhejiang enterprises in all his different stages of development management philosophy.
7 14 afternoon, West Lake in Zhejiang Hotel Many came to the scene ahead of Zhejiang have have to start sharing them. reporter saw Hangzhou Green Group Chairman Lin Dong Sheng and Hua Rui Pei Investment Management Ltd were the discussions for the public is hot. Jinchang Group Managing Director of Zhejiang Long Pan regime, the Financial Group Chairman Mr. Ni, the Silk Road Holding Group Co., Ltd. Ling Lanfang, Zhejiang Sunfire guarantee Quan Group Company Ltd. Shentu swimming, party secretary of China's Ancient and Modern Construction Group Lee Mead, Newgrand Software Co., Ltd. such as the Council Chairman Dan Zhongshao Zhejiang Council President and executive director of more than 40, members and invited guests, Chairman Hu Jiqiang Zhejiang CONBA has arrived at the scene, took part in this event.
Zhu Renhua said that the Council should be the Zhejiang Zhejiang their latest thinking, new practice exchange places. the future arrangements for monthly meetings every month, on the hot issues of common concern were discussed.
report before the subject, Zhejiang Business Council of Zhejiang Federation of Industry has also appointed special inspector Mr. Zheng Mingzhi to Zhejiang Council, consultants, and invited him to host meetings and activities to do. Cheng said he was very pleased to accept the Meiji Zhejiang Council hired. He said, Zhejiang The semi-official non-governmental Coalition; Zhejiang Council high quality, strength, quality, is the Zhejiang group leader. He hoped that the Council can become Zhejiang Zhejiang classroom knowledge, communication bridges, looking for business opportunities Ocean.
After the event, also attended by the Zhejiang Zhejiang well-prepared cocktail Council. everyone in a relaxed atmosphere with mood of wisdom once again spark the collision.
The following is this Extract the contents of dialogue and exchange activities.
Wang Licheng: How Holley
retreat in the industry from the first birth DD16-type power meter products, but now grown to have begun to take the international competitiveness of multinational corporations, Holley has gone thirty-seven years after a course of development, become a Jianmin four A-share listed companies. industries related to medicine, instrumentation and systems, information electronics, chemicals, real estate and other areas of .2006, Holley Group achieved a total revenue of more than 12 billion yuan. It can be said, Holley in business transformation and diversification, there are many profound experience.
lessons
diversification as a diversified investment, diversified, multinational private enterprises, Holley in the process of diversification, but also made mistakes, have been learned.
the last century, the late 70s early 80s, with the country's reform and opening up and industrial consolidation, Holley completed the transition from workshop to factory and began full production of electricity meters. In the 10 years 80 years , Holley is a strong sense of the planned economy, environment, production of energy meters. to the late 80s, there has been a new round of crisis, the industry is very depressed, and the product is a single Holley. This forced the breakthrough mechanism Holley, the company began to shift from the factory system, goods from a product economy to economy. In this way, Holley out of the industry was almost eliminated from the stage of destiny, embarked on a rapid development path.
1990-1995 Holley multiple years period of investment and development. In this 5-year period, Holley is in a period of low levels of diversification. almost every investment in new projects, what projects are to vote, and the starting point is not high. At that time China market economy is still in a relatively short period of product, far from excessive competition, the era of full competition. Together with the late eighties out of the products are single, the situation of enterprises in difficulty, we are very excited. So, when someone anything to make money on the investment and jealous, and no wonder why do such a thing, that is, with Holley has been invested in drinking water, clothing, high-tech and other industries, the results are down the drain.
now looking back, the biggest risk is diversified cash flow tight. When faced with a number of projects a steady stream of cash flows needs, I began to reflect, to review its strategy is working. people say diversity can not on the East, the Western light, but the fact is often not on the East, the West is not bright.
fingers with injury, it is better off a means. I was determined to adjust the strategy in 12 industries to comprehensive analysis, those who are not able to do all of the top three national counterparts to give up. two years, the sell sell all the back exit, and finally The remaining three industries.
If you do not take the initiative in 1996 to adjust its strategy, Holley may not hold. It was a good lesson, although a large loss. Experience is a treasure, but the lesson is wealth, can reduce the probability of the future made more mistakes. the road to success with thousands of articles, others can not copy the experience of success, and business failures can be attributed to it is.
if 90 out Holley Diversity is bright light in the west to east, it is to find a larger profit margins; so that by the year 2000, Holley is looking for an alternative to the meter as the main industry sectors. because the previous main meter is a very special instrument industry very narrow one industry. but after several rounds of shuffling, the market is relatively stable, then we need more space. This is why diversification Holley inner impulse.
Holley main future industry in the end be? when we do a wide range of discussions, then the choice facing the pharmaceutical and IT industries. We do not know which is better, both on the final decision. We established a trial and error mechanism to determine the two Road to the medicine men, respectively, IT direction. But the bottom line to set the risk that investment in each industry is not more than 2 million. because no output beyond this limit, it is difficult to bear the Holley.
results to 2005 years, Holley has 30 medical scale of several hundred million, and annual sales of IT has only 3 million or so, medicine is far greater than the speed of the speed of IT. Finally, Holley identified as the core business of medicine, IT is financial investment business; the original meter, etc. as a strategic investment business, as well as venture capital business.
diversification is the key to the industry to new level of understanding, understanding is not equal to understanding, and only the door to know in the end how. For diversification, I have come to the precepts of an enterprise in a period of time for certain purposes can be diversified investment, but certainly can not have both a wide range of industrial operations. a business can have a core primary industry, would be difficult to succeed.
business diversified and professional are a dialectical unity. an emerging market countries, as market opportunities are everywhere, there will be a large number of diversified enterprises; and when entering mature markets countries, the vast majority of professional enterprise. China's future trends should be more and more enterprises take the professional road.
talent is the problem of transition
Now look, Holley at least the main industry in transition also need 3-5 years, the biggest bottleneck is the talent! Holley had to enter the pharmaceutical industry, the reserve's management training background do not have to do drugs. And when a pharmaceutical Holley are not and can not reserve medical personnel. Rather, Holley is no way to advance in the case of reserve personnel to enter the pharmaceutical industry. Although the pharmaceutical companies before the acquisition, Holley on target to assess the human resources, but they are far from just a not enough. So, the only way to change corporate employment system, opening up the market to recruit a large number of professional managers!
good and the bad in itself, but professional managers, and perhaps professional can, short of the company's management style and culture may not be immediately accepted, not to talk about loyalty. professional managers to truly integrate into the team to go, in particular the establishment of a trust relationship needs at least 3m5. Thus, starting from 2000 to 2010, Holley has truly complete the transformation , which lies in cultural conflict and human resources bottleneck. In addition to middle and senior management personnel and specialized technical personnel, business leader is more important. At present, private enterprises in Zhejiang Province are faced with an insurmountable threshold, is the successors of problem.
in 2000, when I openly declared that in 2010, its just time to retire aged 50. But a lot of people within the enterprise is concerned, are not the Wang Licheng Holley think what would happen. But I want to period of time I have publicly announced his retirement, is that to be sure to be back, and I declared purpose is not to their burning our bridges! In fact, the surface is not retire my back problems, in fact, this back and reclaim reveals that behind Holley talent, business development strategy and system. To me, more or want to create a Holley hit a hundred years. Chinese enterprises have to get rid of a successful entrepreneur created a successful enterprises, but with age, the aging of the entrepreneurs, and finally destroyed the inertia of the enterprise.
However, history tells me that in the current industry structure and management framework, simply must find a successor to the failure of the succession . My idea is that when China really become established core business of the pharmaceutical industry, Holley become like a professional company like Novartis, and Holley to become an investment holding company type of business, all other investments into a diversified financial investment, and has very strong liquidity and exit mechanism, then there will be a lot of people can take the class, instead of non-I Wang Licheng not.
In addition, it even told me about ideas and values of life. the core competitiveness of the Chinese people for that? U.S. business school professor Walton gives a stunning view: Chinese people's cultural and spiritual life is not money! But I would like, the cause is very important, life is more valuable. hard work to a better life. I still have my childhood dreams I need to realize, when I want to zoologists. and after retirement, I will put a lot of energy to philanthropy. We have set up green and Inclusion Fund of Zhejiang , now a lot of meaningful things to do after retirement would have been more good operation of the fund.
Zhejiang Council meeting of July hot topic
turned oil into the energy sector hh
is diversified or focused on the core business? main industry on how to continue expansion into their core competitiveness? diversification is facing what kind of problems? Zhejiang enterprises in transition are faced with many new options. To do this, achievements in the development of their enterprises for the number of transformation and the current transformation own experiences, to share together with the Zhejiang enterprises in all his different stages of development management philosophy.
7 14 afternoon, West Lake in Zhejiang Hotel Many came to the scene ahead of Zhejiang have have to start sharing them. reporter saw Hangzhou Green Group Chairman Lin Dong Sheng and Hua Rui Pei Investment Management Ltd were the discussions for the public is hot. Jinchang Group Managing Director of Zhejiang Long Pan regime, the Financial Group Chairman Mr. Ni, the Silk Road Holding Group Co., Ltd. Ling Lanfang, Zhejiang Sunfire guarantee Quan Group Company Ltd. Shentu swimming, party secretary of China's Ancient and Modern Construction Group Lee Mead, Newgrand Software Co., Ltd. such as the Council Chairman Dan Zhongshao Zhejiang Council President and executive director of more than 40, members and invited guests, Chairman Hu Jiqiang Zhejiang CONBA has arrived at the scene, took part in this event.
Zhu Renhua said that the Council should be the Zhejiang Zhejiang their latest thinking, new practice exchange places. the future arrangements for monthly meetings every month, on the hot issues of common concern were discussed.
report before the subject, Zhejiang Business Council of Zhejiang Federation of Industry has also appointed special inspector Mr. Zheng Mingzhi to Zhejiang Council, consultants, and invited him to host meetings and activities to do. Cheng said he was very pleased to accept the Meiji Zhejiang Council hired. He said, Zhejiang The semi-official non-governmental Coalition; Zhejiang Council high quality, strength, quality, is the Zhejiang group leader. He hoped that the Council can become Zhejiang Zhejiang classroom knowledge, communication bridges, looking for business opportunities Ocean.
After the event, also attended by the Zhejiang Zhejiang well-prepared cocktail Council. everyone in a relaxed atmosphere with mood of wisdom once again spark the collision.
The following is this Extract the contents of dialogue and exchange activities.
Wang Licheng: How Holley
retreat in the industry from the first birth DD16-type power meter products, but now grown to have begun to take the international competitiveness of multinational corporations, Holley has gone thirty-seven years after a course of development, become a Jianmin four A-share listed companies. industries related to medicine, instrumentation and systems, information electronics, chemicals, real estate and other areas of .2006, Holley Group achieved a total revenue of more than 12 billion yuan. It can be said, Holley in business transformation and diversification, there are many profound experience.
lessons
diversification as a diversified investment, diversified, multinational private enterprises, Holley in the process of diversification, but also made mistakes, have been learned.
the last century, the late 70s early 80s, with the country's reform and opening up and industrial consolidation, Holley completed the transition from workshop to factory and began full production of electricity meters. In the 10 years 80 years , Holley is a strong sense of the planned economy, environment, production of energy meters. to the late 80s, there has been a new round of crisis, the industry is very depressed, and the product is a single Holley. This forced the breakthrough mechanism Holley, the company began to shift from the factory system, goods from a product economy to economy. In this way, Holley out of the industry was almost eliminated from the stage of destiny, embarked on a rapid development path.
1990-1995 Holley multiple years period of investment and development. In this 5-year period, Holley is in a period of low levels of diversification. almost every investment in new projects, what projects are to vote, and the starting point is not high. At that time China market economy is still in a relatively short period of product, far from excessive competition, the era of full competition. Together with the late eighties out of the products are single, the situation of enterprises in difficulty, we are very excited. So, when someone anything to make money on the investment and jealous, and no wonder why do such a thing, that is, with Holley has been invested in drinking water, clothing, high-tech and other industries, the results are down the drain.
now looking back, the biggest risk is diversified cash flow tight. When faced with a number of projects a steady stream of cash flows needs, I began to reflect, to review its strategy is working. people say diversity can not on the East, the Western light, but the fact is often not on the East, the West is not bright.
fingers with injury, it is better off a means. I was determined to adjust the strategy in 12 industries to comprehensive analysis, those who are not able to do all of the top three national counterparts to give up. two years, the sell sell all the back exit, and finally The remaining three industries.
If you do not take the initiative in 1996 to adjust its strategy, Holley may not hold. It was a good lesson, although a large loss. Experience is a treasure, but the lesson is wealth, can reduce the probability of the future made more mistakes. the road to success with thousands of articles, others can not copy the experience of success, and business failures can be attributed to it is.
if 90 out Holley Diversity is bright light in the west to east, it is to find a larger profit margins; so that by the year 2000, Holley is looking for an alternative to the meter as the main industry sectors. because the previous main meter is a very special instrument industry very narrow one industry. but after several rounds of shuffling, the market is relatively stable, then we need more space. This is why diversification Holley inner impulse.
Holley main future industry in the end be? when we do a wide range of discussions, then the choice facing the pharmaceutical and IT industries. We do not know which is better, both on the final decision. We established a trial and error mechanism to determine the two Road to the medicine men, respectively, IT direction. But the bottom line to set the risk that investment in each industry is not more than 2 million. because no output beyond this limit, it is difficult to bear the Holley.
results to 2005 years, Holley has 30 medical scale of several hundred million, and annual sales of IT has only 3 million or so, medicine is far greater than the speed of the speed of IT. Finally, Holley identified as the core business of medicine, IT is financial investment business; the original meter, etc. as a strategic investment business, as well as venture capital business.
diversification is the key to the industry to new level of understanding, understanding is not equal to understanding, and only the door to know in the end how. For diversification, I have come to the precepts of an enterprise in a period of time for certain purposes can be diversified investment, but certainly can not have both a wide range of industrial operations. a business can have a core primary industry, would be difficult to succeed.
business diversified and professional are a dialectical unity. an emerging market countries, as market opportunities are everywhere, there will be a large number of diversified enterprises; and when entering mature markets countries, the vast majority of professional enterprise. China's future trends should be more and more enterprises take the professional road.
talent is the problem of transition
Now look, Holley at least the main industry in transition also need 3-5 years, the biggest bottleneck is the talent! Holley had to enter the pharmaceutical industry, the reserve's management training background do not have to do drugs. And when a pharmaceutical Holley are not and can not reserve medical personnel. Rather, Holley is no way to advance in the case of reserve personnel to enter the pharmaceutical industry. Although the pharmaceutical companies before the acquisition, Holley on target to assess the human resources, but they are far from just a not enough. So, the only way to change corporate employment system, opening up the market to recruit a large number of professional managers!
good and the bad in itself, but professional managers, and perhaps professional can, short of the company's management style and culture may not be immediately accepted, not to talk about loyalty. professional managers to truly integrate into the team to go, in particular the establishment of a trust relationship needs at least 3m5. Thus, starting from 2000 to 2010, Holley has truly complete the transformation , which lies in cultural conflict and human resources bottleneck. In addition to middle and senior management personnel and specialized technical personnel, business leader is more important. At present, private enterprises in Zhejiang Province are faced with an insurmountable threshold, is the successors of problem.
in 2000, when I openly declared that in 2010, its just time to retire aged 50. But a lot of people within the enterprise is concerned, are not the Wang Licheng Holley think what would happen. But I want to period of time I have publicly announced his retirement, is that to be sure to be back, and I declared purpose is not to their burning our bridges! In fact, the surface is not retire my back problems, in fact, this back and reclaim reveals that behind Holley talent, business development strategy and system. To me, more or want to create a Holley hit a hundred years. Chinese enterprises have to get rid of a successful entrepreneur created a successful enterprises, but with age, the aging of the entrepreneurs, and finally destroyed the inertia of the enterprise.
However, history tells me that in the current industry structure and management framework, simply must find a successor to the failure of the succession . My idea is that when China really become established core business of the pharmaceutical industry, Holley become like a professional company like Novartis, and Holley to become an investment holding company type of business, all other investments into a diversified financial investment, and has very strong liquidity and exit mechanism, then there will be a lot of people can take the class, instead of non-I Wang Licheng not.
In addition, it even told me about ideas and values of life. the core competitiveness of the Chinese people for that? U.S. business school professor Walton gives a stunning view: Chinese people's cultural and spiritual life is not money! But I would like, the cause is very important, life is more valuable. hard work to a better life. I still have my childhood dreams I need to realize, when I want to zoologists. and after retirement, I will put a lot of energy to philanthropy. We have set up green and Inclusion Fund of Zhejiang , now a lot of meaningful things to do after retirement would have been more good operation of the fund.
Thursday, December 23, 2010
Uncertainty of the post-crisis era
Dilemma, which is the current round of global financial crisis, the first peak in the spring of .2010 Greek sovereign credit crisis means the risk of the private financial sector to the transfer of sovereign states, which is the current round of global financial crisis, the second climax. in Greece sovereign credit before the crisis, there were optimists believe that the global financial crisis has settled, the world's major exit strategy will be implemented soon, the world economy will usher in a new round of re-growth. However, the outbreak of the European sovereign debt crisis clear that the destruction of the current round of global financial crisis, both the intensity and duration far exceeding market expectations. The crisis is continuing in, or into the post-crisis era, which in itself remains controversial. Even though we have entered a post-crisis era, which will also be a time full of uncertainty.
first major uncertainty is how the crisis will expand and spread. Although the United States, Goldman Sachs also fights chatter Event, but after all the U.S. financial the lowest point the market is over. the crisis center has been transferred to the euro by the United States. Although the EU and the IMF jointly launched 750,000,000,000 euros rescue plan, but the focus of the rescue package is not let through the implementation of debt restructuring with creditor debtor countries shared the loss, but through loans to help debtor countries to fulfill their obligations. In order to ensure that the debtor can repay loans crisis, the plan inevitably requires debtor countries to implement painful fiscal consolidation, which will not only lead to social unrest debtor countries, and may exacerbate the debt burden of debtor countries future. Thus, the plan may only be postponed to the debt crisis of the future from now.
Therefore, if rescue is not a significant change in strategy, 750 billion euros and could not pull the vitality and the European sovereign debt crisis down in both the European sovereign debt crisis will continue to expand or even upgrade. the future from the debt crisis may be passed to Portugal, Greece, Ireland and other countries. In fact, in addition to European pig five foreign countries, in Britain outside the euro area may be the next round of crisis in the country. Britain has a serious budget deficit and government debt pigs, no less than five countries in Europe, in addition, transition to reliance on the financial industry, the British economy, and the crisis in the financial sector hit the grave. After the launch of the British general election Conservative and Liberal Democrat coalition cabinet, while the coalition government, the biggest drawback is that difficult to launch a thorough, large-scale adjustment plan, which will be difficult to simply slide into crisis in the United Kingdom from the track to get out. Once the euro zone and Britain's sovereign debt crisis continues to deepen, so hard to stay out of the United States. In fact, the U.S. also has a serious budget deficit and government debt. The advantages of the United States dollar is the world's reserve currency, the United States can create inflation and depreciation of the dollar to out of the crisis. However, this means the crisis will seriously damage the international reputation of U.S. dollars.
Finally, the current global financial crisis will not end in the developed countries. since September 2008 since the collapse of Lehman Brothers to the major developed countries led by the Fed's monetary authorities have implemented a policy of quantitative easing an unprecedented effort, the collective into a lot of liquidity to the market .2010 since the crisis began in spring of Greece, the European Central Bank and the Bank of Japan to re-launch large-scale quantitative easing policy, again to inject liquidity into the global financial system. a lot of liquidity from 2009 until now flows to emerging markets from developed countries, so many emerging market countries in 2009 appears more serious asset price bubble. However, once the next countries to exit loose monetary collective policy, especially if the Federal Reserve into raising interest rates, global liquidity flows will be reversed, returning from emerging markets in developed countries. This will undoubtedly result in asset prices in emerging markets bubble burst, the face of capital flight, currency devaluation faced pressure increasing foreign debt burden, which the outbreak of currency crises and debt crises. This crisis and the 1997-1998 Asian financial crisis are very similar. In short, despite the current global financial crisis to the outbreak of the international monetary system at the core of the developed countries, But in the end may end to the periphery of the international monetary system in the country.
second major uncertainty is whether the world economy, the second bottom, and when the real world implementation of an exit strategy. As for the second probe end of problem, the key is to look at how to define dropped significantly, then the second bottom marked increase in the likelihood. After all, the U.S. unemployment rate is high, bank credit malaise, dynamic private sector consumption and investment remained weak. whether the government stimulus plan, or an enterprise re- inventory of, it can not support sustained economic rebound. EU's main problem is the lack of new economic growth point, the aging population makes unsustainable social security system, rigid labor market caused by chronically high unemployment. The Japanese economy is still not able up to two years completely out of recession, with the decline in the long process of struggle, the Japanese government has run out of space for fiscal and monetary policy.
short, despite the emerging markets and resources in the exporting country can maintain high growth in 2010, but this year may be lower than the IMF world economic growth forecast of 4% before. Although Australia, India and a few other countries have begun to enter the interest rate cycle, but not the world's major developed countries before 2011 collective implementation of an exit policy. of great uncertainty in the post-crisis era, cautious, wait and wait and see policy seems to have become a circle and humane policy.
first major uncertainty is how the crisis will expand and spread. Although the United States, Goldman Sachs also fights chatter Event, but after all the U.S. financial the lowest point the market is over. the crisis center has been transferred to the euro by the United States. Although the EU and the IMF jointly launched 750,000,000,000 euros rescue plan, but the focus of the rescue package is not let through the implementation of debt restructuring with creditor debtor countries shared the loss, but through loans to help debtor countries to fulfill their obligations. In order to ensure that the debtor can repay loans crisis, the plan inevitably requires debtor countries to implement painful fiscal consolidation, which will not only lead to social unrest debtor countries, and may exacerbate the debt burden of debtor countries future. Thus, the plan may only be postponed to the debt crisis of the future from now.
Therefore, if rescue is not a significant change in strategy, 750 billion euros and could not pull the vitality and the European sovereign debt crisis down in both the European sovereign debt crisis will continue to expand or even upgrade. the future from the debt crisis may be passed to Portugal, Greece, Ireland and other countries. In fact, in addition to European pig five foreign countries, in Britain outside the euro area may be the next round of crisis in the country. Britain has a serious budget deficit and government debt pigs, no less than five countries in Europe, in addition, transition to reliance on the financial industry, the British economy, and the crisis in the financial sector hit the grave. After the launch of the British general election Conservative and Liberal Democrat coalition cabinet, while the coalition government, the biggest drawback is that difficult to launch a thorough, large-scale adjustment plan, which will be difficult to simply slide into crisis in the United Kingdom from the track to get out. Once the euro zone and Britain's sovereign debt crisis continues to deepen, so hard to stay out of the United States. In fact, the U.S. also has a serious budget deficit and government debt. The advantages of the United States dollar is the world's reserve currency, the United States can create inflation and depreciation of the dollar to out of the crisis. However, this means the crisis will seriously damage the international reputation of U.S. dollars.
Finally, the current global financial crisis will not end in the developed countries. since September 2008 since the collapse of Lehman Brothers to the major developed countries led by the Fed's monetary authorities have implemented a policy of quantitative easing an unprecedented effort, the collective into a lot of liquidity to the market .2010 since the crisis began in spring of Greece, the European Central Bank and the Bank of Japan to re-launch large-scale quantitative easing policy, again to inject liquidity into the global financial system. a lot of liquidity from 2009 until now flows to emerging markets from developed countries, so many emerging market countries in 2009 appears more serious asset price bubble. However, once the next countries to exit loose monetary collective policy, especially if the Federal Reserve into raising interest rates, global liquidity flows will be reversed, returning from emerging markets in developed countries. This will undoubtedly result in asset prices in emerging markets bubble burst, the face of capital flight, currency devaluation faced pressure increasing foreign debt burden, which the outbreak of currency crises and debt crises. This crisis and the 1997-1998 Asian financial crisis are very similar. In short, despite the current global financial crisis to the outbreak of the international monetary system at the core of the developed countries, But in the end may end to the periphery of the international monetary system in the country.
second major uncertainty is whether the world economy, the second bottom, and when the real world implementation of an exit strategy. As for the second probe end of problem, the key is to look at how to define dropped significantly, then the second bottom marked increase in the likelihood. After all, the U.S. unemployment rate is high, bank credit malaise, dynamic private sector consumption and investment remained weak. whether the government stimulus plan, or an enterprise re- inventory of, it can not support sustained economic rebound. EU's main problem is the lack of new economic growth point, the aging population makes unsustainable social security system, rigid labor market caused by chronically high unemployment. The Japanese economy is still not able up to two years completely out of recession, with the decline in the long process of struggle, the Japanese government has run out of space for fiscal and monetary policy.
short, despite the emerging markets and resources in the exporting country can maintain high growth in 2010, but this year may be lower than the IMF world economic growth forecast of 4% before. Although Australia, India and a few other countries have begun to enter the interest rate cycle, but not the world's major developed countries before 2011 collective implementation of an exit policy. of great uncertainty in the post-crisis era, cautious, wait and wait and see policy seems to have become a circle and humane policy.
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