Chapter Two Thousand and Seventy: London Financial Summit
Xiao Yu smiled like a flower, but she was secretly worried in her heart.
It's not about myself, it's about Yoo Joon. It can be seen that Liu Jun is very thoughtful. As Yoo Joon's status became higher and higher, he frowned more and more. In the past, when I was in Changhe District, it was difficult to see the image of a handsome, sunny and handsome young boy. Xiao Yu really misses the time when she was a nanny in Building 1 on the shore of Heshui Lake. Especially after the fall of Zhu Feiyue and Zhu Long's father and son, it was Xiao Yu's happiest day. It seems that there is nothing in the world that worries her.
At that time, Liu Jun was so high-spirited!
This official is getting bigger and bigger, and there are more and more troubles.
"Brother, drink tea!"
Xiao Yu brewed a cup of strong tea and gently put it in front of Liu Jun.
This is the presidential set at the Qiushui Hotel. The dinner has ended, and after a day of touring today, Uncle Chu and Aunt Tong are a little tired, and after dinner, they went back to the room early to rest. Of course, it is not ruled out that they will do everything possible to leave a little more time for Xiao Yu to spend with Liu Jun.
Aunt Tong is really looking forward to Xiao Yu giving birth to a boy and a girl for the Lao Liu family as soon as possible.
Yoo Jun nodded, turned on the huge wall-mounted LCD TV, and tuned into an English channel. The picture shows the scene of the talks between General Secretary Li Zhiguo and US President Jack.
The G20 summit is currently being held in London, the capital of the United Kingdom.
The establishment of the G20 was first proposed by the finance ministers of seven industrialized countries, including the United States, in Cologne, Germany, in June 1999, with the aim of preventing a recurrence of the Asian financial crisis and allowing relevant countries to hold informal dialogues on international economic and monetary policies, so as to contribute to the stability of the international financial and monetary system. Announced in Washington in September 1999 by the finance ministers of the Group of Eight (G-8), it is a mechanism for informal dialogue within the framework of the Bretton Woods system and is composed of the G-8 and eleven major newly industrialized countries and the European Union. It aims to promote the reform of the international financial system and to provide a broad basis for discussion and consultation on substantive issues with a view to seeking cooperation and promoting stable and sustained growth of the world economy. As is customary, the International Monetary Fund and the World Bank attend the meetings of the organization. Since the global financial crisis triggered by the United States last year brought the financial system into the global spotlight, the G20 summit was held to broaden the voice of individual countries, replacing the previous G8 summit or the G20 finance ministers' meeting.
The G20 accounts for about 85 percent of the world's GDP and has a population of about 4 billion.
At the summit, Vice Premier Guo Qiliang, Foreign Minister Sang Yingfeng, and dozens of cadres from the General Office of the CPC Central Committee and other relevant party and government units accompanied the summit.
There is no doubt that the meeting between President Li Zhiguo and President Jack is the focus of the summit. Liu Jun did not read the news reports in his own country, but directly watched the news reports from the United States.
There will be a detailed briefing on the content of the domestic news report, and Liu Jun wants to see how the foreign media reported on the meeting. Think about it from a different perspective.
In mid-November last year, shortly after the outbreak of the financial crisis in the United States, a financial summit was held in Washington. As one of the summit dialogues with the largest number of participating countries and the largest role in the global economy and finance, the G20 Summit has played a very important role in responding to the global financial crisis and rebuilding a new international financial order, and has become the focus of attention around the world.
At last year's summit, the participating countries offered to save the U.S. economy and prevent the U.S. from issuing dollars indiscriminately. Not long after the outbreak of the financial crisis, the crisis spread from the virtual asset field to the real world, and the real economy of the United States began to decline. In order to stimulate aggregate demand, the Fed has cut its benchmark interest rate to one percent and has been pumping money to bail out troubled financial institutions and large corporations, all of which will increase dollar issuance, which will depreciate the dollar.
The U.S. dollar is the world's currency, and many countries in the world hold huge amounts of U.S. dollar assets, and the U.S. indiscriminate issuance of currency will cause serious losses to countries that hold U.S. dollar assets. Therefore, the most urgent task of the last financial summit should be to prevent the United States from issuing money indiscriminately, and in order to achieve this goal, countries have proposed to work together to save the American economy, the most concrete manifestation of which is the purchase of US Treasury bonds.
As of the end of September '08, the US federal government's fiscal deficit had reached more than $450 billion, a new historical record, and the situation in '09 was even more unoptimistic. Therefore, at the last summit, most of the G20 countries demanded that they should work in unison and strictly prohibit the sale of large quantities of US Treasury bonds, so that the US economy can be stabilized and the value of US dollar assets in the hands of each country can be maintained and increased.
China agrees with this proposal and expresses its willingness to further increase its holdings of US Treasury bonds.
Of course, how to deal with other non-government bonds is not a matter of worry.
What really attracted the most attention at the last summit was the proposal put forward by various countries, especially the European Union, to unify regulatory standards and regulate the activities of international financial institutions. The EU pointed out that one of the root causes of the financial crisis was the excessive relaxation of financial regulation in the United States. As a major promoter of financial globalization, the United States has become increasingly lax in its regulation of financial institutions and financial market innovation, and in this relaxed environment, its financial institutions such as investment banks, commercial banks, and hedge funds have operated with high leverage, and have repeatedly succeeded in conquering cities in other countries around the world. Since these institutions operate globally and can evade the financial supervision of countries around the world through internal transactions or transnational capital transactions, unifying regulatory standards and regulating international financial activities has become the common aspiration of other G20 members except the United States.
The United States also wants to strengthen financial regulation, but it is more aware of the need to take the initiative in setting regulatory rules. If the initiative is abandoned, the hegemony of the United States in the international financial system will be greatly shaken, which is what American financial capital does not want to see, and this is precisely what the financial capital of other G20 members wants. At last year's summit, the European Union launched an onslaught, but it was ultimately unsuccessful. It is estimated that similar efforts will be made at the London summit.
Seeing that Liu Jun was more engaged, Xiao Yu didn't dare to disturb, sat down beside him, picked up a knife to peel the apple, and then cut it into small pieces, and sent a piece of apple to Liu Jun's mouth from time to time.
Economics and politics are like twin brothers. The financial summit is not only about dealing with the global economic crisis, but also about the adjustment of global interests after the relative decline of the United States. It's a long bargaining process. At present, China is the world's fourth largest economy after the United States, the European Union and Japan, and has the world's largest foreign exchange reserves.
After watching the news for dozens of minutes, Liu Jun's body leaned back slightly, relaxed, and reached out to tap his forehead.
Xiao Yu hurriedly leaned over, stretched out his slender hand, and gently massaged his head.
"Brother, do you think President Jack will give in to us this time?"
Xiao Yu asked in a low voice while massaging Liu Jun's head. Xiao Yu can now be called a strong woman in the economic world, and she is not ignorant of these international trends.
Liu Jun said indifferently: "Concessions are certain. The key is how much to let and how to let it, and it is estimated that Jack also has a headache. ”
A country that is accustomed to being a hegemon will not bow to others easily. Jack must also make a careful trade-off between saving the domestic economy and maintaining world hegemony.
Xiao Yu thought for a while and said, "Not long ago, Stephen? Roach said that China is not yet a very large economy, and is not in a position to save the world, whether it is the establishment of a second Bretton Woods system or urging China to play a central role in the international monetary system, it is some unrealistic ideas...... Brother, does it make sense for you to say what Roach said? ”
Roach is the chairman of Morgan Stanley Asia, well-known by many market people in China, and has a group of "fans" in China. Xiao Yu knew what he said, and it was very reasonable.
Liu Jun smiled faintly, waved his hand, and said, "Luo Qi is just a businessman, he doesn't understand politics. Of course, as an American, it is understandable that he speaks for his country like this. Whether or not to establish a second Bretton Woods system, or whether to play a central role in the international monetary system right away, is not what we need most. In many cases, the key is the real benefits. ”
Perhaps President Li Zhiguo will promise to give more economic support to the United States at this summit, but the conditions are certainly there. The US military presence in China's periphery is one of the bargaining chips in the negotiations.
The strategy of long-distance friendship and close attack has been conveyed to Chairman Li Zhiguo through Bian Lao. It is said that it is also one of the core strategies of President Li Zhiguo at this summit.
Xiao Yu nodded and gently lay on Liu Jun's shoulder.
Liu Jun patted her soft little hand, and suddenly asked, "Xiao Yu, do you have something on your mind?" ”
"Huh? No, I don't have anything on my mind......"
Xiao Yu hurriedly denied it, she didn't want to interfere with Liu Jun's thinking at this time.
Liu Jun reached out and grabbed her slender waist, and with a slight effort, Xiao Yu snuggled into his arms.
"Say, don't hold anything in your heart, say it."
Xiao Yu bit her lip lightly, hesitated for a moment, and then whispered, "Well, my mother...... My mom was worried...... She was worried that I was getting older and that it would not be safe to have children in the future......"
When she said this, Xiao Yuqiao's face was flushed, with a sense of shyness, her eyes were evasive, and she didn't dare to look directly at Liu Jun.
Liu Jun was slightly stunned, then laughed, touched her hot little face, and nodded with a smile.
Xiao Yu was suddenly overjoyed, suddenly straightened up, hugged Liu Jun's neck, his hot cheeks were tightly pressed against Liu Jun, and his whole body trembled slightly......