Newsgroup: it.economia.borsa
Titolo: Secondo Dudley, presidente della FED di New York il QE2 è praticamente assicurato...

http://www.marketwatch.com/story/ny-feds-dudley-action-likely-warranted-2010-10-01
 

 
http://www.marketwatch.com/story/ny-feds-dudley-action-likely-warranted-2010-10-01
e questo è quello che "ufficialmente" ha dichiarato che farà la cina se ci 
sarà il QE2
     .........
Call for China to reduce dollar assets
The head of China's sovereign wealth fund has said Beijing should reduce 
dollar assets in its foreign exchange reserves if Washington maintains its 
loose monetary policy, a report said on Thursday.
Lou Jiwei, chairman of the $US300 billion ($A320.26 billion) China 
Investment Corporation, wrote the comments in a book compiled for a 
conference involving Chinese and US economists that took place in Beijing 
this week, Dow Jones Newswires reported. "The timing of the Federal 
Reserve's exit from the current extremely easy monetary policy is a key 
factor in determining whether China and other emerging market countries can 
control their asset bubble," he was quoted as saying. "For China, the chief 
means to reduce economic risks are to strengthen regulating the capital 
inflow, control the liquidity through hedging, monitor relevant assets 
markets and divert forex reserve to non-dollar assets." Lou called on the 
United States to tighten its monetary policy, which he said would be 
"beneficial to the healthy development of the global economy", the report 
said.
It was not clear when Lou wrote the piece. An organiser of the conference 
told Dow Jones that he had submitted it three weeks ago, but the article 
refers to a December announcement by Washington as recent. China - which has 
the world's largest foreign exchange reserves, worth $US2.45 trillion 
($A2.62 trillion) at the end of June - has invested a large portion of these 
in US dollar assets, such as safe low-yielding US Treasury bonds. But amid 
the financial crisis, it has tried to diversify its investments to improve 
returns, recently acquiring more South Korean and Japanese government debt. 
In Washington, US Treasury Secretary Timothy Geithner on Thursday said it 
was "past time" for China to lift barriers to US exports, as he faced 
demands from angry legislators for sanctions against Beijing. Geithner 
abandoned his previously restrained approach to bluntly warn China it must 
let the yuan rise in value against the dollar to end trade distortions.
Facing November elections shaped by voter anger at the sour economy, US 
lawmakers are weighing bills that would slap sanctions on Chinese goods, 
amid accusations that Beijing keeps its currency - and thereby its exports - 
artificially cheap. "It is past time for China to move" Geithner said, 
adding that ending Chinese currency and other trade distortions were "core 
objectives". But Geithner faced fire from friend and foe alike for not 
labelling China a currency manipulator in his recent semi-annual reports to 
Congress - a move which could set in motion a process for retaliation. "At a 
time when the US economy is trying to pick itself up of the ground, China's 
currency manipulation is like a boot to the throat of our recovery. This 
administration refuses to take that boot off our neck," said Democratic 
Senator Charles Schumer. His comments were echoed by fellow Democrat 
Christopher Dodd who said: "It's clearly time for a change in strategy." 
Dodd also urged the US to take its case to the International Monetary Fund, 
who can probe currency manipulation. The Treasury Department's next currency 
report is due on October 15.
The issue appeared to have been defused in June when China pledged in June 
to let the yuan trade more freely against the dollar, but Geithner has 
reiterated that he is still not satisfied with Beijing's moves to loosen its 
grip on the currency. According to Fred Bergsten of the Washington-based 
Peterson Institute, China's movement could help create "about half a million 
US jobs, mainly in manufacturing". Yet despite that "important" pledge, 
Geithner said the Chinese currency's value was "essentially" unchanged in 
the past two years. "China has continued to intervene in the exchange 
markets on a very substantial scale to limit the upward pressure of market 
forces on the Chinese currency."
Since June the yuan has appreciated about 1.6 per cent against the greenback 
and traded at 6.7181, its highest level since June, on Wednesday. But China 
on Thursday warned outside pressure to change its currency regime would be 
counterproductive. "The appreciation of the renminbi (yuan) cannot solve the 
US trade deficit against China and it cannot solve the US domestic 
unemployment issue," foreign ministry spokeswoman Jiang Yu told reporters. 
"The issues in China and US economic relations and trade should be properly 
solved through consultations on an equal footing. Exerting pressure cannot 
solve the issue. Rather, it may lead to the contrary." Despite his harsh 
warnings Geithner also tried to put the currency dispute in the context of a 
wider and mutually beneficial trade relationship with the fast-emerging 
economic super-power. Boosting trade with China is seen as vital to 
President Barack Obama's goal of doubling exports in five years. "We have 
very significant economic interests in our relationship with China," 
Geithner said. US exports to China have tallied more than $US53 billion 
($A56.58 billion) since the beginning of this year. But trade tensions with 
China were ratcheted up another notch on Wednesday when Washington called on 
the World Trade Organisation to probe unfair Chinese trade practices.
The United States is accusing China of unfair treatment of US steel and 
electronic payment providers, the first step toward sanctions.