Everyone knows that during the 1970s the Japanese yen traded at 380 yen to the dollar and then appreciated to 110 yen per dollar. But Japan has all along enjoyed a trade surplus with the United States and their surplus went from US10 billion at the time to over US80 billion.
More Quotes from Zheng Jingping:
as long as we continue to earnestly implement the government's macroeconomic control policies and perform solidly in the fourth quarter, then the long-term targets we set earlier this year will be realized.Zheng Jingping
China imports about 40 of its oil so of course we are affected, especially the industries that are high consumers of oil or that process oil products.
Zheng Jingping
We should pay attention to control of bank credit offerings and strengthen guidance for commercial banks.
Zheng Jingping
The key of our policy lies in preventing the (real estate) prices from surging too fast, instead of bringing down the prices abruptly, which is not in line with the law of economy or interests of the government and ordinary people.
Zheng Jingping
China's high rate of bank savings, investment, robust market demand and abundant labor forces guarantee the rapid growth of the Chinese economy.
Zheng Jingping
Bank loans grew a bit faster in the first quarter, which has gained the attention of the State Council. Rapid expansion may boost the economy in the short term, but it will eventually lead to inflation and economic disorders and we should consider it seriously.
Zheng Jingping
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