At present, how to survive the cold winter of economic downturn? In the current downward trend of the world economy, can we achieve economic reversal?
What about sections? Professor Lu Qiyuan shared some views. Professor Lu believes that the conditions for countercyclical adjustment of China's economy are ripe. But we need to be far-sighted and courageous. Professor Lu said that he does not approve of the policy out of the central bank. It's not good to use an infinite amplification of traffic. Because this approach leads to hyperinflation, causing currency depreciation, and once the currency enters a depreciation cycle, it will form a credit depreciation. People will lose confidence, trust and faith in the future of economic development. And that's exactly what the Americans want to see. Similarly, if Americans lose their pricing power over goods at a given time, then their **deficit cannot be turned into the U.S. money issuing power. If the United States uses the deficit to solve the deficit by printing money, the result will be a systemic collapse of the dollar system. And we have a huge ** surplus every year. We should turn it into a strategic resource that can be reserved. It even includes carbon emission rights, etc., and can be used as a fundamental issue to add RMB. **The surplus is equivalent to the right to issue notes. But we're giving that power away to someone else. The flow of capital determines the life of the economy. Without the rate of capital accumulation, we lose the impetus for economic growth. There are three means by which we can increase our strategic material reserves. 1. Use all the ** surplus to exchange for strategic reserve materials, don't treat this as a business, don't worry about the level of **, and elevate it to the strategic level. 2. Temporarily suspend the industry of exchanging our strategic resources. For example, we export a large amount of rare earth resources every year. Stopping exports and purchasing them at the expense of the state will maintain the development of the local economy and ensure employment. It has also increased the country's strategic material reserves, which in fact means that it has the right to issue money. We can use this as a basis for issuing RMB. 3. Allow some sovereign countries such as Afghanistan, Sri Lanka, Russia, etc. Strategic stockpiles to acquire our sovereign renminbi bonds. The closed loop of the people's currency. This will allow us to have access to strategic stockpiles. At the same time, this friendly country can get a large amount of high-quality and low-cost daily necessities. It also solves our overcapacity. Before we obtained the pricing power of commodity package labor, the surplus was our right to issue money. We should not give away the right to issue money to others.