Wall Street crisis does not depend on China

Wall Street financial crisis threw the world into the unknown, but officials from the United States so far no one banker to be punished. Wall Street uncovered ask the chief culprit is the voice resounded through the world, but all of a sudden, the United States and Britain struck some economists, the Chinese thought of "scapegoats" in recent days that they dished out in the media theory, that led China to the world's surplus The great power of the financial crisis is the root cause of the outbreak, and again with the RMB appreciation "to correct global economic imbalances," like the Sun Zhao. In recent years, in the West to global deflation, inflation and other issues to blame China and head of the argument, but not as good as the Wall Street financial crisis attributed to China's argument appears to be exaggerated and funny. The Wall Street out of the ordinary course of such a big trouble, shoulders the responsibility to criticize and supervise the Western media and academic circles should also be self-examination. But now the United States and Britain also think of a few elite Wall Street for modesty, the Chinese take such a thing that the victim, this is not only unfair to China, but also to the West to poison the public. Sweden to accept a scholar, "Global Times" reporter during an interview that the United States and Britain of individual financial and economic relationship between the media and Wall Street is too close, they themselves become the "financial club," a frequent visitor. U.S. financial crisis has become a scapegoat? Recently, the United States passed on to the world financial crisis is questioned by many, but some on Wall Street to help "Xizui" to pass on the outside who have been convicted of action. This is the "Asia's revenge", the British "Financial Times", deputy editor-in-chief and chief economic commentator马丁沃尔夫on October 8 the title of an article a bit sensational. According to the article, the United States and other developed countries "crazy indulgence of financial innovation and consumer loans," these countries have been encouraged by the ultra-low interest rates, while China led to a surplus of great power surplus dollars back to the United States and Britain for financial markets, direct The United States and Britain can lead to lower interest rates, the huge surplus is the country's deep-rooted crisis, one of the reasons why. British think tank Center for European Reform economist Ximeng Tai Geng Shiba Fulford of the United States as "the financial crisis scapegoat" and that criticism of the United States was "very easy to allow other countries to escape out the responsibility." Telford said that many European and Asian economies are in the prosperity of the previous credit in the process of obtaining the benefits of the enormous. He also said that without China, Germany and Japan "excessive savings", perhaps a result of this financial crisis would not have happened. Telford said the United States and Britain and other countries of the credit and prosperity of these countries is not only the policies and poor business practices caused by imbalances in the global economy it is a by-product, "the United States alone that he is unable to rise to the current difficulties" Those savings over the country's huge trade surplus has led to instability in the global economy. Such view also of the view that since the financial crisis in the global economy is certainly in line with the imbalance, it should be corrected to China led by the country's trade surplus large internal imbalances, such as China should loosen the yuan's exchange rate controls to allow the yuan to appreciate, and so speed up. Wolf's point of view and others in the West known as the "savings glut" theory, some discussions, most of the academics do not agree with this view. European Forum Web site editor Morgan believes that "savings glut" theory is trying to shift the current financial crisis, the root cause of a dangerous attempt, and the resulting financial crisis is the root cause of a number of countries the central bank's policy makers, politicians and financial leaders " Regardless of the consequences of dereliction of duty. " Morgan believes that despite some Asian countries do not maintain capital account deficit is a real desire, but their "savings glut" is also to a great extent by Western countries led to the policy of the West's policy is to create a surface The prosperity brought about a lot of wealth from the hands of the majority transferred to the hands of a few, it seems now that the West over the past few years in real terms in the much-touted prosperity is false, because the current crisis has exposed the true situation. Wall Street's partial to the side of the argument in the U.S. media more. Recently, "The New York Times" quoted an article on the Great Depression era of a story to persuade people not to "just want to punish the Wall Street." The article said that in 1929, Maiyemishi Kim runs a store in New York, in October of that year the stock market collapse, he said, "This is Hunzhang those of the rich deserve." However, the issue of the Wall Street spread to the wider economic field, Mishkin stores also closed, after he has not found a job. "The New York Times," the article says, Washington is now a lot of people are beginning to worry that the United States into a terrible recession, but worried that the American public and members of Congress would become modern Mishkin, "They are not interested in saving the economy, but Wall Street punished. " Excuse to shirk its responsibility On Wall Street the financial crisis, Professor of Economics at Stockholm University, told Nelson, "Global Times" reporter, the United States that "Grandpa grandchildren to spend the money," the habit as early as in China is not a major economies on the case; United States housing market bubble, the Americans themselves are the result of Hongtaiwujia, even in China there are huge foreign exchange reserves before the start. Nelson believes that reason, "Financial Times" of such well-known international financial media will not commit such a mistake, they do so, the most likely explanation is to evade responsibility for the West to find a scapegoat. If strict accountability, including the United States and other governments have at least the financial responsibility of inadequate supervision and a system designed to Wall Street tend to the so-called "financial elite", even though the rescue package, as some U.S. critics say Really rescued the Lehman Brothers executives of those companies, not the bottom of the common people; As for the financial media who, in fact, those with the "elite" are inextricably linked, and even their own Wall Street is the "financier Club, "a frequent visitor, so they are rare in the financial crisis on Wall Street before the accusations, now Wall Street is still in every possible way to maintain. U.S. global strategy information to the magazine's Philip Rubinstein accepted the "Global Times" reporter during an interview that China's financial crisis on Wall Street is also a victim of the view that China is the Wall Street financial crisis, saying the root causes of conflicts and very absurd. Rubinstein said that the Western media, individual scholars and the reason why the Wall Street financial crisis, the buck to China because these scholars and the media on behalf of the consortium of major financial interests, we must speak up for them to cover up the truth; by the current crisis The impact of the public anger directed at the manipulation of financial markets Jinrongguatou, put the blame on China, will be able to transfer people's attention, and to reduce the financial pressure faced by the consortium, also easily be accepted by the anti-China forces. Rubinstein said that this is also intended to maintain the financial consortium of Western financial markets to international control in order to continue in the future to lay the foundation for speculative operations. There are Chinese experts believe that even if global economic imbalances of the financial system, the system is set up by the Western developed countries, China in this system is no fundamental right to speak, let scapegoat China is extremely irresponsible, but also no good In the reform and adjustment. In the world to reflect on the root causes of the crisis Since the sub-loan crisis broke out, the vast majority of the world's economists believe that, even though from the background, there is a long-term global economic imbalances, but the circumstances leading to the direct cause of the crisis is clear that the United States and consumption patterns of supervision Let up. Harvard University economist Kenneth Rogoff said that the U.S. consumer, "consumption of all the earth has never savings." He also said that "the United States al unparalleled financial system thanks to its consumers can buy almost no down payment on luxury cars. They can to the value of the property as collateral for more loans every year, and spent every Money. They can be less and less of their savings to enjoy life more and early retirement. "Such consumption patterns and combination of Wall Street greed, sooner or later to the problem. The management of the United States in the "9.11" and then deliberately connived at such a frenzied consumption, with a view to promote U.S. economic recovery, Wall Street is in control of this train of thought under the guidance of becoming more relaxed, and the rating Institutions is a serious dereliction of duty, there is no early warning information in a timely manner, which to Wall Street greed of the speculators have created an unprecedented opportunity. In Europe, politicians from most of the media to target the United States. France tiro so well-known economist in the "expansion" magazine on a case-by-point analysis of the cause of the crisis mechanism that from the micro-speaking, the root causes of the crisis is that U.S. financial authorities of the lack of supervision, so that the risk of a large number of loans into bonds In the field of financial flows, which spread to the entire international financial system, triggered the crisis. European media that, from a macro, the problem is that the U.S. system of deep-seated reasons. French Prime Minister Fillon on October 3 In the face of the majority members pointed out: crisis in France is not a crisis but a global crisis, is the initiator and irresponsible "financial capitalism", clearly point out the United States. "Le Figaro" in the U.S. financial system, described as "a casino-style" system, that the current financial crisis deeply touched the United States, smashed half a century, the ideology of the United States - the national policy of laissez-faire. French President Nicolas Sarkozy said at a press conference the other day, this financial crisis is rooted in "hedge funds" and the like in order to carry the primary purpose of the capital, these funds will control the stock market into a pure capitalism Speculative and wrong able to extricate themselves. Sarkozy said: "Some people say we do not know who should be held responsible. Is not it? How the profit, they take out one by one all the red?" He stressed the need for those responsible for the financial crisis, "checks And punishment. " "Deutsche Welle" radio station comes down to the root causes of the crisis in countries such as the United States and Britain "ignored the risk of wild speculation" and "financial sector drifted away from the economic environment outside the self-contained attempt must be stopped. Banks and the stock market to be down-to-earth and return to the Real economy, at every turn, after all, 15-20 percent of the high rate of return in the real economy is very realistic.'s Greed bank executives should also be put under control. " "The Western criticism of China, we do not rule out the possibility to put pressure on China so that China's intention to pay." China Institute of Contemporary International Relations, said Jiang Yong, the West demands that the financial crisis in China "to assume more responsibility" Point of view, is simply untenable. China to do a good job in their own affairs, China's financial stability of the situation live, is the regional economic stability and the global economy.