1. Friday May 25, 2018
      Home > News > Economy
      Text:| Print|

      China should step up RMB internationalization: Jim O'Neill

      2013-05-09 08:00 Xinhua     Web Editor: qindexing comment

      China should push forward internationalization of its currency RMB and development of the financial market in a bid to minimize the negative impact of easing competition of advanced economies, said Jim O'Neill, founder of the BRIC theory, in an interview with Xinhua before the Group of Seven finance minister and central bank governors meeting this Friday.

      He believed that the exchange rate of the Chinese currency RMB, or yuan, is to fluctuate, going up and down, just like another currency.

      O'Neill, former chairman of Goldman Sachs Asset Management who made surprise announcement of leaving the bank in February, said London, as a global financial center, will see increasing trade in RMB in the future, so long as the European regulators are wise enough.

      "China needs to develop domestic financial market further," O'Neill suggested, predicting that China to fully open its financial market in the next few years.

      "I think it's a very exciting thing," he said.

      In response to a question on China's economy, he predicted the economic growth in China will slow down from the previous years' high-speed growth like 8 percent or 7.9 percent.

      China's economic growth will maintain at about 7.5 percent in this decade, he predicted.

      He held that China's economic growth mode is expected to gradually turn to be more oriented by domestic demand, with demand for fossil energy dropping while renewable energy rising.

      He pointed out the biggest risk facing China is that Chinese consumers do not tart to spend more, which is also the problem in the rest of the world.

      Another risk listed by O'Neill is the weak exports.

      "The reasons for China's lower growth rate were structural and cyclical in nature. It was a planned downturn, mainly due to concerns about overheating and inflation. During the last quarter China already did better again, coming out of its trough," O'Neill noted.

      O'Neill admitted that the rapid development of the BRIC countries have exceeded his expectations.

      "The BRIC countries have the potential to avert a global recession and to grow faster than the rest of the world and to pull all of us along with them as a (growth) engine," he said.

      When asked about his next job after Goldman Sachs, the 55-year-old economist used his sense of humor and said: "If the sun's continuing shinning, my next plan is to go sun bathing and do nothing else."

      But he disclosed that he would do something else late this year.

      In another interview with local media, O'Neill was suggest to start a second career as secretary general of the BRICS countries.

      O'Neill said this proposal is one of the more interesting ones among a few offers he received recently. "I don't know whether the heads of the BRICS countries want to create such a post," he said.

      O'Neill became well-known in 2001 for a paper in which he was the first to coin the acronomyn BRIC, for the rapidly developing nations of Brazil, Russia, India and China, which he predicted would be the great economic powers of the future. More recently, South Africa has also been frequently named as belonging to this circle.

      Comments (0)

      Copyright ©1999-2011 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 麻豆安全免费网址入口| 久久福利青草精品资源站免费| 免费人成年激情视频在线观看| 精品一区二区三区免费视频| 亚洲第一精品在线视频| 久久久久久99av无码免费网站| 一级中文字幕乱码免费| 亚洲欧洲在线观看| 日本特黄特黄刺激大片免费| 嫩草在线视频www免费看| 亚洲免费电影网站| 国产偷国产偷亚洲清高动态图| 久久精品国产免费观看| 羞羞漫画在线成人漫画阅读免费| 亚洲成在人天堂一区二区| 免费高清小黄站在线观看| 人人揉揉香蕉大免费不卡| 无码一区二区三区亚洲人妻| 在线观看亚洲人成网站| 免费人成年轻人电影| 国产成人免费午夜在线观看| 无套内谢孕妇毛片免费看看| 亚洲第一区视频在线观看| 国产精品亚洲mnbav网站 | 亚洲一区在线免费观看| 国产精品亚洲综合一区| 无码国产精品久久一区免费| 免费看无码特级毛片| 猫咪www免费人成网站| 亚洲国产日产无码精品| 亚洲免费观看视频| 四虎永久成人免费| 亚洲精品免费网站| 很黄很污的网站免费| 黄页网站在线视频免费| 99久久婷婷国产综合亚洲| 亚洲av鲁丝一区二区三区| 亚洲人成网站18禁止一区 | 亚洲Av无码国产情品久久 | 日本一道高清不卡免费| 最近高清中文字幕无吗免费看|