Wu Donghua: Global QE Curve Buying Shares, Please Buy 2 Trillion Shares Of Zhou Xiaochuan.

Whether in the US or in Japan or in the UK, QE is pointing to the curve strong stock market. Recently, Japan has gone crazy, extending from 60 trillion -70 trillion yen a year to 80 trillion yen, and the yen has depreciated from 105 to 110, and the QE of European banks is "stuck" because of its target rather than the stock market.

The author suggests that Zhou Xiaochuan should not support the banking industry. This is invalid. It is better to buy 2 trillion yuan directly, because the Chinese stock market is originally a proportion of institutional investors in the market value, which is down to less than 25%.

In the face of the boring discussions on the US's withdrawal from the QE, whether to raise interest rates or not, when to raise interest rates, raise interest rates and raise interest rates, it is better to think about what Yellen will do next.

Or if Zhou Xiaochuan turns himself into Yellen, think of it now, now in the US economy, such as reducing the deficit ratio, increasing government investment, increasing office expenses, trying to crack down on China's economy, and trying to improve the continuation power of the US economy, the 3 round of QE buys 3 trillion and 963 billion dollars, of which MBS2.073 trillions of dollars, US Treasury bonds 1 trillion and 690 billion dollars, and federal agency bonds 200 billion dollars.

Obviously, raising interest rates will only damage the economy, and throw MBS, and the US real estate will bear the bear. If the federal agency debt is thrown out, the federal government will have difficulty in surviving. Only selling American Treasury bonds is an alternative to raising interest rates, but it is much better than raising interest rates. Raising interest rates will encourage the holding of US Treasury bonds. However, the United States is no longer issuing treasury bonds, so there is no need for financing. Then, the rise in US Treasury bond interest rates has no effect on the United States. Instead, funds leaving the US Treasury bonds and entering the US stock market will make the Dow Jones stock index rise to 20 thousand points, further stimulating consumption to stimulate economic growth and promoting employment.

However, selling US Treasuries will damage the denomination of China, Japan and other countries holding treasury bonds, but the US dollar will depreciate because some of the funds will flow out of the US, but because of the rise in the US stock market, it will attract new ones.

Enter the United States, so the United States will meet again.

。

Overall, the depreciation of the US dollar is not a big obstacle.

If the Fed waited until three years after selling the US Treasury bonds to buy back, it would be the bottom of the bargain. China's foreign treasury bonds would be locked up passively.

Therefore, the author suggests that the US Treasury bonds should be sold continuously, and the foreign exchange reserves should not be recovered, but the enterprises will voluntarily convert, so that they can invest 2 trillion yuan in the Chinese stock market.

The recovery of foreign exchange funds is the initial practice of export oriented economies. Once a large amount of foreign exchange reserves are accumulated, it will only increase the burden on the state.

Generally speaking, a large amount of foreign exchange savings is not a bad thing to do with the public. If we really want to control the currency, we can control the amount of money in the remittance and remittance. Besides, when the central bank's foreign exchange reserve is not enough, we can take the foreign currency exchange.

To sum up, I believe that Zhou Xiaochuan is not worried about Yellen raising interest rates, but Yellen selling U.S. Treasury bonds, because the United States has not issued US Treasury bonds, interest rates rise has no effect.

On the contrary, the US stock market has been stimulated to reduce the value of China's external treasuries.

Because Japan, the United States, Britain

The purpose of the curve is to stimulate the stock market, so Zhou Xiaochuan is not as good as buying 2 trillion yuan directly into the Chinese stock market. The Shanghai composite index is now around 2400. If the Shanghai composite index is raised to 6000, then the 2 trillion yuan investment will turn to 5 trillion yuan, which is much more significant than buying the US national debt, that is, to increase the doubling of the wealth and increase the consumption of China. It also promotes the surge of consumption in China. It also promotes the massive listing of Chinese state-owned enterprises. It also increases stamp duty, a large number of brokerage firms and a large number of investment banks, and is also a means to promote the direct financing of enterprises.

What is Zhou Xiaochuan waiting for? Is it possible for Yellen to sell US Treasury bonds and let China sell US Treasury bonds?

Wu Donghua, a well-known economist, an expert in innovation, an expert in clothing strategy, predicts the trend of the first person in Europe and America, the first economic integration expert, India economic expert, foreign trade expert, world economic expert, economic researcher of the former Department of international economic cooperation of the Ministry of Commerce, and consultant of the Chinese business research center of the former Ministry of Commerce.

Put forward the theory of elimination of acquisitions and acquisitions and launch a series of integrated innovation. Wu Donghua used fourth coaches to guide dozens of agencies at home and abroad, including the US embassy, London ARM, France ENSAAMA, Paris O.G.F.D.I and Germany's "Spiegel", to guide technological innovation, channel innovation, sales innovation, style innovation, packaging innovation, service innovation, industrial zone innovation, and create a national brand international brand. The Internet searches for the global lack of "offshore economic innovation knowledge" and "enterprise comprehensive innovation will win the world 10 years". It is the best research of innovation, and is guided by the annual performance of enterprises 50%, 100%, 200%, 300%, respectively. The scope of economic research, the scope of guidance, the scope of guidance, and the speed of guiding enterprise income are all faster than those of top economic leaders. Fourth