He indicated that if the currency value was underestimated the large-scale economy impediment standard currency revalues, will encourage other countries to imitate this procedure, so will initiate a dangerous trend. In the future, more and more countries more grounds near will depend upon the pressure which the market force impetus standard currency revalues, its set influence in emerging economy initiation bloating and property froth, will otherwise cause these national expense growth murky. Japan, South Korea as well as Brazil all have entered the market the intervention standard currency to revalue. In the US, the Congress House of Representatives through a bill, the permission department of commercial affairs to the commodity which imported from China levies additional taxes the customs duty last week. In Europe, the European Central Bank also issues the warning on the strong trend euro to originally the weak Eurozone economic growth's threat. Gaertner indicated that if the trade surplus country does not increase the domestic demand, the exchange rate cannot a more free fluctuation, “we definitely know, the global whole economic growth will drop.”
Gaertner pointed out that the International Monetary Fund needs, in persuades these countries to let the exchange rate free float in the process play a more positive role. He is also clear the IMF management mechanism reform - - gives newly-emerging nation more rights to speak and the voting right - - relates with the exchange rate reform, was called that “this is a basic agreement which we proposed”. But at the same time him the police said that do not count on this question can be solved fast. “said explicitly that this will not be we can in the future three month solution question, this need will realize in future continually transformation.”
While appealed various countries by slow have the rhythm step the growth which guides the government to enforce the budget cut measure transition, Gaertner indicated that many developed countries still had the stimulation economic growth space. “our majority countries still had continue to implement the stimulation motion the leeway, improves the short-term and the long-term economic prospect. The global economic recovery faces the biggest risk lies, the developed country is unable to display the economic growth potential.”
Gaertner also indicated that the currency value the emerging market economy which underestimated is needed to speed up the domestic demand growth step.
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