eq2 platinum Director - AFV

Fenghuangwang financial information according to Hong Kong media reports, January 18, 2012, announced after the higher people's Court of second instance in Zhejiang Province, maintained a death sentence on Wu Ying. The decision attracted the attention of public opinion at home and abroad, support and oppose voices seem to be equal. Wu Ying is guilty, sentencing is reasonable, lawyers and judges should be allowed to discuss, economists should not be heard.But Wu Ying the economic consequences of the death penalty and non-economists cannot explain. I think the death sentence on Wu Ying is a devastating blow to grass-roots financial guild wars 2 gold, quite negative about the transformation of economic growth mode in the Mainland. Grass-roots financial destruction against mainland proverb says: "river flood the river". But if the current financial system as Mainland River, this sentenceRoot is not set up. In the Mainland, for large enterprises, especially enterprises funded by the Government, "River" which almost never lack of water, and low interest rates. To finance micro-enterprises, mostly small private enterprise "small river" which almost always lack of water, and high interest rates. "Big river" and "the river" is between drought and flood two days, is because the "River" and "the River"The lack of interoperability between, is the segmentation of the market. "River" with banks as the mainstay of the system eq2 platinum, including five State-owned banks, more than more than 10 joint-stock Bank, and baiyujia urban commercial banks. From "River" enterprises of the system of access to finance, has two advantages: first, funds can be obtained at any time, the second is money low interest rates. To enjoy these two in terms of enterpriseThere are two types: one is the Government enterprises, enterprises of the other is close to the Government, are usually large enterprises. Any business, as long as these two advantages, it is not a big business for the time being, and will soon expand to large enterprises. Capital markets as they open their doors. Associated with the Government does not have enough private enterprises of small and micro-enterprises from the "River" access to finance, Forced to "stream" of water, commonly known as "grass-roots financial". "The river" has never been a lack of funds, poor institutional arrangements also increases the risk of lending, has blocked capital flow to "stream", leading to "stream" more water, so "River" in interest rates were high. Therefore, from the "little river" water companies in terms of availability of funds and the financial cost of inferior qualityPotential significantly. Capital markets is high reach. Interest rate arbitrage system for difference markets tell us: where is the difference, there is speculation. "Big river" and "the river" spreads between disparity eq2 platinum, there will naturally be some as clever businessman and Wu Ying, sought to arbitrage between the two rates: funds from the low interest rate market to higher market interest rates, earning difference between.Therefore, "river flood the river" was the result of market rules. If the "river flood the stream dry" market mechanism must be out of the question. In the area of the Mainland's financial, market mechanism problem is caused by excessive regulation. After more than 30 years of reform and opening up, the market economic system has been initially established in the Mainland. But this is not the "good" marketEconomy, implicit to many overseas scholars call "capitalism". "Capitalism" is not a dirty word in itself, capitalism is not capitalism of the free competition of the problem is that currently the mainland but part of industrial capital enjoyed the privilege of access to adequate and affordable capital, part of financial capital to carry the privilege, and the law does not give such as Wu Ying right of persons engaged in financial transactionsLee. Officials decided to privilege assigned beforehand, grasp the right of punishment known as "officials of capitalism" is not too much. System of assets into capital because of new century [13.73 research report] since the Central Government reform opportunity lost year after year, the Mainland economy approaching middle income trap again. Peru Economist HernaNdo de Soto in his book Secrets of the masterpiece of the capital said capitalism was able to succeed, because the capitalist system assets as capital, so as to create more wealth. Many fall into the trap of developing countries was not due to lack of assets, but the lack of institutional arrangements for assets into capital. Appears more than once in history, China country strong and the peopleRich spirit, have entered the material basis of capitalism. Missed the reason and capitalism, it is because the system. Particularly clear from the financial point of view. Institutional arrangements for financing, will be civil spontaneous. Similar institutional arrangements supporting Western European Navigator to a world of adventure, was the start of trade globalization, created conditions for the industrial revolution. United Kingdom and the Netherlands and other countries have used"Licensed" supporting navigation, with "limited liability" protection of the debtor. China is the "ban on maritime trade," Elimination of local civil navigation. Wu Ying death sentence if the implementation, description lead and lost to the jiaobi system of capitalism so as before, is likely to once again out of the middle income trap a chance to kill in the cradle. (Deputy banks by the financial Department of the State Council Development Research CenterWu Qing, Director)