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China is seeking to activate its role in global economic activity

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Rocky


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China is seeking to activate its role in global economic activity

 

11/23/2015 0:00

Baghdad follow up the morning
Adding the yuan to a basket of currencies International Monetary Fund, according to Benjamin Cohen, international political economy professor at the University of California, impetus to support China's position, and most important, is that this procedure would strengthen Chinese efforts to internationalize its currency to the government's efforts.
He adds Cohen within his article published in the site Project Sandekket: in 2014 the Chinese currency occupied the seventh position in the world's central banks reserves, eighth place in the issuance of international bonds, and the place eleventh in the global trading currencies, and the Chinese monetary authorities still determine the daily trading exchange rate margins.
was International Monetary actually fund skeptical until August with respect to the addition of the yuan to a basket of its currency.
This decision making China is seeking to revitalize its role in the global economy, where a senior official of the Chinese Foreign Ministry said on Sunday that China will be presented to Southeast Asian countries loans with ten billion dollars for the infrastructure sector.
He said Liu Zhenmin, Deputy Foreign Minister, told a news conference on Sunday on the sidelines of a meeting of leaders of the Asia-Pacific countries that the second largest economy in the world will provide aid worth 3.6 billion yuan (560 million dollars) for the least developed countries of the Association of Southeast Asian Nations (ASEAN) in 2016 .
On the other hand the Chinese government said on Sunday it would support the growth of health and retail, travel and sport sectors in an effort to boost domestic consumption.
The government said in a statement on its website: it will encourage financial institutions to accept a greater number of guarantees for the granting of loans for activities «associated lifestyle».
Other sectors focused on by the government for the elderly, family, culture, law and subsistence and food service sectors as well as education and training of senior officials in China and talked about the «new ordinary» slower pace of growth, while the second largest economy in the world attention turns to sustainable development, led by consumption.
and heading China's economy this year to record a slower pace of growth in more than two decades and came down the rate of growth in China to 6.9 percent in the third quarter of the year which is the weakest since the global financial crisis, partly due to the weakness of investment.

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