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Sunday, January 23, 2011

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China by 2012 is already in the big leagues of economics and international politics: Orlando Delgado Selley

China's impressive: a new world pole?

Orlando Delgado Selley

MEXICO CITY, Jan. 21 (adopted) .- Hu Jintao, President of the Republic of China, came to America on an official visit as a celebrity of the highest caliber. And so it was seen and treated in each of the official events and meetings held with legislators, business and political leaders until Friday, when he concluded his visit.

And no wonder. It was the head of government of a country that has unique capabilities and has dazzled the world. A few days ago Hu said the U.S. flagship newspaper, The Washington Post and The Wall Street Journal: "Both countries have much to gain from good relationships and much to lose from confrontation."

to the wise, a few words. The growing economic weight of China has given the extraordinary political significance. Not only is the second largest economy, but the first exporting nation and a big importer.

In a recent article published in the journal of the International Monetary Fund, Finance and Development, December 2010, states that the high growth rate achieved since the economic and political reforms of the late seventies China has allowed its economy double every 7-8 years, while it has increased 16 times its national income in the life of a generation, which has no historical precedent.

Its huge population, over one thousand 300 million, representing a fifth of the world total, making this achievement is amazing. About 400 million Chinese out of poverty as a result of this effort. Moreover, its economic expansion impacted only a few decades ago only to its neighbors, but now affects the whole world.

This influence has also expanded into the financial world. China, based on its huge trade surpluses, has established an investment strategy, which first purchased government bonds from the U.S. Treasury, then bought it financially role of companies controlled by the U.S. government moved to debt issues of other governments and he even consider investing in derivatives and securities representative roles structured investment vehicles.

is told that the president and the Chinese Central Bank Vice President met a group of economists at the University of Beijing, who asked about the risk of investing in derivatives, conduits, complex structures and other financial innovations.

Given the ignorance of the nature of the risk of these instruments, an investigation was ordered closed by noting that the value of new financial products circulating in the world could be understood if ordered dozens of mirrors slightly tilted to viewing could visit them.

distant final image was inaccurate. Such was the value that supported these instruments and, consequently, the risk was not measurable.

Chinese officials decided not to invest in it and kept in less complex papers, of course, offered lower yields. So the 2008 financial debacle them not only affected them, but significantly increased its investment capacity in global markets.

According to The Financial Times, between 2008 and 2010, right in the epicenter of the financial crisis, China provided to developing countries 110 billion dollars, of course more than the United States and even Mundial.China more than the Bank has become the banker of the world. A lender buying debt of Greece, Portugal, Ireland and Spain in the secondary market. It does, moreover, in decisive moments.

the face of government attacks European markets, the Chinese buy and calm the situation, what they sell and support the governments of the countries concerned. Take advantage of the pressures that have increased the rate paid by the sovereign debt issues, so they get high returns, well above what they would obtain by buying U.S. Treasuries.

So support them profitable. The European crisis has helped to diversify its portfolio, reducing its holdings of U.S. paper. In addition, when advertising support in the capital market to governments in a hurry, take the opportunity to win contracts in which it appears that advertise direct China investment in key sectors to ensure their supplies in the medium and long term.

in Greece are investing exorbitant amounts on the purchase of assets in the port of Piraeus, in Ireland have also opened the wallet. In Spain reach the powerful Chinese bankers.

In 2004, Chinese investment in the world or painted. In 2009 came to 4% of the world. In 2010 rose to 5%, in 2011 surely grow up to 7% or 8% match international analysis.

This ability to direct investment in China makes a very important economic player and allows you to be a decisive political actor. The last meeting of the G 20 testified that if China does not accept there is no agreement in this group. Probably not have the capacity to impose their views, but his veto is certain.

So this is not only an emerging power and a key player on the world stage is a new world pole. West has learned how to do business, but has a different culture.

Political values \u200b\u200bare not Western democracy, its political organization with a single party is different. It has, of course, heavy guilt: some distant, as happened during the Cultural Revolution, close others, such as the Tiananmen crackdown on a peaceful demonstration.

why it has arrested and held in prison for dissidents who have claimed, rightly, that China adopt universal values \u200b\u200bof tolerance and respect, even democratic values. That's their Achilles heel.

And during his visit to the United States, some claimed to do so by Hu Jintao. But those criticisms, and those claims nothing marred the courtesy.

United States is to give the Chinese abuse, especially now that so desperately needs them, for its economy, which is one third of the U.S. - is growing at a rate two to three times faster than the U.S..

United States has done everything in their power, fiscal and monetary, to jump-start its economy. But this is slowly recovering, and employment, worse, progress to a crawl.

is symptomatic that one of the first agreements between Hu and Obama has been the signing of contracts for China investment EU-including about 19 billion dollars in Chicago to purchase Boeing 200 aircraft - which can generate over 235 thousand jobs.

No doubt, then, that China is already in the big leagues of international politics and economics.

o_selley2001@yahoo.com

Source: Process

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Andrés Manuel López Obrador Calls the U.S. government respects the national sovereignty

A few hours after Secretary of State of the United States, Hillary Clinton, made a lightning visit to Mexico, Andrés Manuel López Obrador asked the government of the northern neighbor respect for national sovereignty and the signing of a bilateral agreement for cooperation on economic growth, generating employment and sources of social welfare. Arturo Huerta Writer Friday, January 14, 2011

Andrés Manuel López Obrador Calls for the U.S. government respects the national sovereignty

Nezahualcoyotl, Mexico State .-

Sunday January 23, 2011

* Calls to conclude a bilateral agreement for cooperation on economic growth, generating employment and sources of social welfare

* Send a letter to the Secretariat of State of the United States North America, Hillary Clinton asking him to rectify the policy towards Mexico

the legitimate president of Mexico reported on sending a letter to the representative of President Barack Obama to ask him to rectify the policy towards our country and to say that the problem of insecurity and violence in the border and throughout the country not be resolved by coercion or by building walls, not with the mass deportation of compatriots.

In the letter, she said, will be explained to Mrs. Clinton that this problem is not solved by the military training of Mexican sailors on American soil, let alone the so-called cooperation on intelligence.

In an interview he gave at the end of the informational meeting on this municipality, said the scourge of violence and insecurity combat and study opportunities for millions of young people.

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ARTURO HUERTA: economic policy

economic policy for the financial sector

In 2010, the yield in dollars from foreign investors located in the Bolsa Mexicana de Valores (BMV) was 26.83%. This results from the lack of profitable investment options in their countries, so have opted channeled to the emerging world like ours, which pursues policies of 'stability' macro in your favor, such as high interest rates , fiscal discipline and stable nominal exchange rate (domestic currency appreciates), which acts on behalf of profitability in the financial sector. This has led to foreign investment in BMV 156 000 add $ 83 million. To this is added the more 43 billion dollars that foreign investors are in debt, given the higher interest rates it offers in relation to the international interest rate. This situation puts the national economy in a context of high vulnerability and fragility about the behavior of the capital. When the economy ceases to provide conditions of stability and profitability in favor of such capital, it will opt out of the economy, so that destabilize the capital markets, money and currency, and the economy as a whole . No wonder the Mexican government asked the International Monetary Fund will increase the credit line 47 billion to 73 billion dollars, so that together with the 113 billion dollars of foreign reserves, reaching about 200 billion dollars by the end of 2011 (equivalent to foreign investment located in the BMV , as in debt), to act as a buffer against speculative stocks that may arise.

government's concern is to ensure high returns to financial capital, to come and not go, in order to fund the deficit of the external sector, such as exchange rate stability, without this being translated better economic growth, since that capital does not flow to the productive sphere.

economic policies are established for the sector, which has made it possible that the BMV has offered the second best performance in the world (only surpassed by Argentina). This is not explained by the events of the real economy, as GDP growth in 2010, failed the drop shown in 2009, and do not show expected growth of the economy. This reflects that there is no support endogenous validate the gain shown in the BMV, which happens to be fictional, explained by the inflow of capital itself, when they want to go out, fall apart again BMV. That is, drop the price of the shares, and it will not gain any, only earn the first to sell and get out.

can not continue with the economic policy that acts on behalf of the financial sector, it implies further relegated to the productive sector (industrial and agricultural). BMV to offer higher performance (dummy) in relation to the productive sector, capital flows continue to favor the financial sector, which leads to lower growth, higher economic fragility, and another crisis. History repeats itself over and over again.

Source:

http://www.economia.unam.mx/eopina/index.php?option=com_content&task=view&id=376&Itemid=9