G20 summit yesterday, the fifth held in Seoul, Korea, global investors focused Seoul, Korea, China’s central bank suddenly announced the fourth time this year to improve commercial bank deposit reserve ratio. After the announcement, Asian currencies fell, U.S. dollar against the yen breaking 82.3 psychological level.

G20 summit can be turned into one of peace General Assembly, allow global investors to eliminate the uncertainty of the future world economy, the General Assembly? Prior to the convening of the meeting, conference organizers no idea, did not mind the end of global investors. As leaders of the General Assembly the day before arrival in Seoul, the venue also came the news: the General Assembly to prepare for the G20 Summit, delegates declared almost stayed up all night were they from time to time to open the door, because the indoor temperature was high, arguing from time to time coming out. There are even reports that, G20 meeting has become the G19 meeting, it was unanimously criticized the U.S. government the second time scale of quantitative easing, the Fed sat accused of helicopter money, to most of the world as a sink.

Of course, in accusing the United States, the United States would argue, including the use of government resources, accusing the Japanese government intervention in currency markets and the undervalued currency and so on. Attention of the G20 world summit will open into a quarrel and mutual accusations of the meetings? I believe the host country and global investors are very worried about, who did not end.

Year and a half ago, when the G20 meeting was held for the first time, to coincide with the global financial crisis in 2008, when the world’s major countries are facing a major problem: how to quickly get rid of the shadow of the financial crisis, to the economic recovery. Therefore, when the world is very easy to form a unified voice.

This time is different, more than a year, as some countries recover faster, slow recovery in some countries and some countries even signs of the emergence of new crises, therefore, to participate in this year’s G20 meeting, countries will have different mentality. Self-serving thinking may have the upper hand, to evade responsibility or shift responsibility, or even blame the sentiments of others may be spread at the meeting. At this point, some differences occur, or even argue, is inevitable.

However, when some people will blame, others the purpose of a problem as the participants, the global market is the most concerned about peace and development issues may be diluted, non-mainstream voices may be overshadowed by the voice of the mainstream, and finally has the potential to Seoul The G20 summit to open into the Copenhagen summit – we all come, arguing for a few days, the results did not achieve anything.

The world needs peace, and peace on the premise that understanding and tolerance.

The current world is indeed different from a year ago, the major economies the pace of economic recovery is different from the stability of the recovery are also different, the focus of national macroeconomic policies of different nature, therefore, a difference of monetary policy is understandable. For example, the U.S. economic recovery is weak, needs an appropriate release of liquidity; the euro area of hidden debt crisis, the current fiscal policy must remain tight, but not tightening monetary policy; significant appreciation of the yen in Japan, may undermine economic recovery, so The second round of quantitative easing, the Fed would be worried about; China is because of inflation heating up, you need to crunch. States have their own problems, monetary policy needs to local conditions, there is no need grabbed hold of monetary policy in some countries.

Specifically, both the quantitative easing policy and the Fed need for a substantial appreciation of the renminbi, are the internal affairs of other countries can not interfere and accusations. Of course, since a high proportion of China and the U.S. share of global economy, China and the United States currency (U.S. dollar) has become an important part of the world market. As vital to the development, so the G20 summit in the consultations.

G20 meetings are not specifically discuss the national monetary policy meeting, but must be expressed on the country’s monetary policy, “tolerance” and understand that this is the unity and harmony of the premises; G20 meeting among the major powers need the commitment, but by no means the need for commitment The third round of the quantitative easing or appreciation of the RMB exchange rate of the number, but must not own interests in the development of recovery and not take any responsibility.

China in the past year, has set a responsible power in the world a good image, including the tremendous pressure to withstand the RMB exchange rate reform, there is a crisis and the purchase of a lot of hidden state bonds, the Chinese economy’s rapid development over the past year, has proven to be the world’s most powerful engine of economic recovery. These are the performance of a responsible big country.

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