U.S. Treasury Secretary Lew overcapacity should not hinder the development of Sino US relations popkart

The United States Treasury Secretary Lew: excess capacity should not hinder the development of Sino US relations become king Dan Wei from Washington EST on October 6th, in Washington, Pedersen held by the Institute of world economy and the International Monetary Fund (IMF) and the world bank annual meeting speech, U.S. Treasury Secretary Jacob Lew said the yuan is IMF SDR (SDR) that is a good opportunity to promote exchange rate reform and economic reform of a Chinese. People do not over interpret the yuan into the basket, the RMB will not become an overnight international currency, which is an affirmation of China’s past reform efforts. The Chinese government’s regulatory policy on the foreign exchange market has improved, not quite the same as it did five years ago." Lew says. Lew believes that the current Chinese overcapacity has become a major problem affecting the relations between the two countries, and that for the China the challenge is now to continue reform route, let the market in the field of innovation, to play a larger role, how rational allocation of resources, is related to whether Chinese can have a good development in the next ten years. "We should not let overcapacity, as five years ago, the same as the foreign exchange problem, hinder the healthy development of Sino US relations, in fact, China’s overcapacity in the world have a great impact." Lew says. China’s overcapacity affecting international relations China currently has more than 10 tons of steel production capacity, equivalent to about half of the world’s steel production. China’s domestic steel consumption capacity of about 7 tons. U.S. M & a king Ross Wilbur Tencent finance, said China’s low-cost exports of steel, the annual scale of 1 tons. "There is still a surplus of 2 tons, which means that China’s steel production accounted for about 10% of global steel production." The United States has repeatedly said that overcapacity in the steel market disruption, damage to the environment, harm the interests of workers. In the reduction of social problems caused in the process of steel production can not be underestimated. Wilbur said Tencent finance, China should shut down inefficient factories, and the government to compensate for the unemployed workers. China’s economy is now shifting from an industrial to a consumer driven model, which Lew believes is the biggest challenge for china. "China have room for further reform, but at the same time, the reform of the limited space, so China must grasp the policy guidance, to solve the overcapacity in some areas while promoting will have many problems, but the overall development is very important China." Lew says. In addition to the social conflicts that may arise in the production, the international community is concerned about the problem, but also whether the orderly production process. Professor of public policy at the George Mason University, a visiting professor at Root Hilton University of foreign trade of Tencent Finance said, rule-based production is an important basis to reduce the risk of the production process need to use open and transparent mechanism. In the election year, commodity production, but also for the two parties have special significance. Swing states, Pennsylvania and Ohio are big states of iron and steel production. Republican presidential candidate Trump, had repeatedly denounced President Obama on foreign steel "dumping". In order to win the support of these state voters, both candidates will be on the issue.相关的主题文章: