< p style= "text-align: left >" accompanied by the strong liberal faction Abe Shinzo led the Japanese LDP to win the house of Representatives election again. We sent away "a href=" http://sjfzxm.com/news/index_cj.as "> monetary policy < /a > 2012.

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In the year P, the US Federal Reserve launched QE3 and QE4 in the second half of the year, targeting clearly the growth of employment. The ECB stunned the capital market by buying sovereign debt OMT, which was the first of the eurozone periphery countries to fight against the debt crisis. The Japanese central bank increased its purchases five times in a year, and for the first time in the third quarter, it held more than 100 trillion yen.

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The main central banks of the Central Bank of China have sung my debut. Although there are no clear slogans, they are pulling the trigger of banknote printing and playing stimulants for their respective economies in the region. P

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From P to the United States, the senior officials of the central bank on both sides of the Atlantic have been warning that many countries are trying to control their currencies by monetary policy.

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< p > in the fierce battle of currency wars, it is necessary to look back at the situation of the export battlefield directly affected by currency devaluation.

In the past thirty years, who is the biggest export winner of "a href=" http://sjfzxm.com/news/index_c.asp "globalization trade" /a?

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< p > the above figure from OECD shows that China's export share growth is very outstanding whether it is "a target=" _blank "href=" //www.pmae.cn/ "> textile" /a ", chemical industry, or machinery and manufacturing.

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< p > this is consistent with China's "world factory" name.

However, one of the biggest accusations in China is to manipulate the currency exchange rate and suppress the appreciation of the renminbi.

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< p > but the rise of China's exports in the past thirty years also shows that no matter how large amounts of liquidity are injected into other countries, and strive to make their exports attractive, China's cheap labor force has its own particularity, so it can not be duplicated. < /p >

< p > of course, when the traditional export target economy is weak, China is also facing economic pformation. To tap the sources of internal growth, it is no longer easy to maintain GDP growth as exported under the leadership of the past.

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