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"United States debt problem for China, is a matter of exchange rate risk for global, rather than a risk of sovereign default. "Frank Gong, Managing Director of JPMorgan China attending the 2011 AIA high-end 26th Fortune Global Forum" negative interest rate era "Tao of Chinese family wealth management" activities, said the United States economy micro level is very good, United StatesCountry the problem of the debt but also to you, it owes you $ can also give you, but the dollars worth of money is another question. Said Frank Gong, negative interest rates of money it is a very challenging topic, more challenging is not just we have to face the so-called negative interest rates, now the most important global financial instability, global economySerious uncertainty, European debt crisis will spread, United States economy will be a double dip, also have so-called debt crisis of the United States. While China's economy also faces restructuring and adjustment. China's economic growth momentum mainly from exports over the past decade, from real estate, exports and real estate are pulling the two coach of the Chinese economy, but the global financial turmoil once in a blue moon have greatly changedThe pattern of future economic growth. European debt crisis and American debt crises also had a profound impact on the global economy, for some time to come over the next several years, the global economy may be in a downturn in growth, constantly at risk of recession in State. China exports the carriage may be down, but at the same time our country and in the regulation of real estate, real estate regulation will enableChina lose another domestic demand-led wagon from the perspective of the financial markets. The question we now face not just to answer the evolution of the European debt crisis, what about future prospects diablo 3 gold, prospects for resolving the debt crisis in Europe. Us debt crisis on the United States economy and the global economy have much impact, we must face these problems, but have to face is the problem of ChinaWill there be a native of systemic risk. Because a shares down like that, we know that in the past two years or the last few years, overseas investors to China than domestic investors more bullish. You see the market valuations of financial stocks than outside its territory were generally high 20% or 30%. Many people think that we now must not only face the European sovereign debt crisisUs debt rating was lowered, most likely China will face local financial storm in the future. Global problem now talk about a lot, United States issues not United States ultimately is a political issue, will face next year's presidential election. United States Treasury bonds represent a higher proportion of GDP, standard and poor's also lowered for some time before United States sovereign debt ratings, but the United StatesPersonal and family levels now than on the balance sheet in 2008 and 2009 before the financial crisis better. The problem now is the United States Government repair their balance sheets, 2008 United States financial crisis of the United States the financial sector, households repair their balance sheets, the Government after a bailout, non-quantitative easing of heavy pine put United States private debt intoUnited States national debt, so the United States national debt, very good balance sheet repair at the private level, so will the Dow Jones even record high in the first half. United States fix the balance sheet at the enterprise level, and United States balance sheet repair done at family level, before the financial crisis, United States domestic savings rate is at the level of negative, now United StatesHousehold savings rate is 5%, right, lower than in China, China's household savings rate was 30%, but the United States General long-term household savings rate is zero or even negative, has 5% of household savings rate was very good. United States economic micro level is very good, Government, sovereign level some of the debt problem, but even if the United States debt to GDP ratio 100%, financialGovernment deficit accounting for GDP close to 10%, there will not be default risks, United States of the economic problem is not the issue of a debt default risk, United States, I often say is not going to default. Such as China has more than 30,000 foreign exchange reserves, which more than 30,000 foreign exchange reserves, 50% these are the investment to the United States, most of them hold United States State bonds has more than 10,000, such as descriptionYear United States debt, had hundreds of millions of dollars due to be returned to China or to let China buy its new debt. If servicing is up, such a large sum to debt servicing, United States will due to high debts do not also does not, as we all know that United States is unique in the world's reserve currency issuers, dollar marketing world. So if it has expired,Hundreds of millions of debts to be returned to you, it will begin to print presses do not die, as long as the paper with ink, printed money to you is done for you. Because of its reserve currency status, the credit card was invented in the, he can also credit card for you. In fact, the United States the problem is not a debt is not, is not a problem or sovereign debt risk of default. United StatesProblem is that the debt can also give you the dollars it owes you can also give you, but the dollars worth of money is another question, it also gives you, the dollar may have on long-term depreciation of the Renminbi, the more money printing more. It has no default, and is due to you, but this money became less and less valuable. So the United States for Chinese people and to global issuesSpeak is a matter of exchange rate risk, rather than a risk of sovereign default. This is two different problems. The exchange rate risk of our own to manage well. American print money, you can't stop it, is their sovereignty within things, it would like to print is printing. Now maybe have to pursue quantitative easing three, you look wide, wide two printed more than 20,000 dollars, The United States is different from European issues also falls short of dollars that the world's reserve currency is the euro's tough position. Problems in Europe are very large, but the United States questions are very small. United States actually have gone on the sovereign debt is very high in actual combat, previous debt to GDP ratio of over 100%, was in 1946, is the United StatesCountry's economy has gone through the 30 's depression and after World War II, World War II United States spent a lot of money to go to war, won the second world war, but after World War II United States Government is basically bankrupt position, when the national debt to GDP of more than 120%, serious than now. But by then the United States has not been selected fiscal austerity, has not been selectedDecline as debt crunch which can not be solved. You can solve the debt problem only by economic growth, because economic growth taxes before you will receive Diablo 3 Gold, the more your economic growth is possible in some areas inside the Government quit. GDP is the denominator is getting larger molecules may unchanged, or even shrink. So that the proportion of debt to GDP will fall,After World War II United States does not have a fiscal agreement as they did in early August, tightening, it still continues to expand. So because of the economic recovery, and in 1946 to the 80 's the process, United States national debt share of the GDP fell to 120% from 30%, solved the debt problem because economic growth, it has notTo solve, and it is going to stimulate the economy. ����So the fact is we've talked about development is the clincher. Gold-line statement: Gold-line reproduced above, does not indicate that confirm the description for investor use only and does not constitute investment advice. 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