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Five is the debt crisis affect global economic recovery, impact onChina's external demand and macroeconomic policy exit is bigger. Although Mr Hunt and Spain 'European five pigs' in Europe's economic clout is not big, but for now, the crisis has affected the economic recovery of other European countries two European Union not only proposed aid package on the top of the giant, also tighten its belt ready to cut their budget deficits. The European debt crisis increased the uncertainty of the global economic recovery,Europe's economic recovery growth will face greater challenges. The eu isChina's largest trading partner,China's external demand remain under pressure in the short term. Due to the sovereign debt risk still exists the possibility of spreading, the author thinks that our country central bank monetary policy exit will also face the challenge.

First, influence onChina

The European sovereign debt crisis impact onChinafor the moment is short and limited. The influence of main have the following two aspects. First is the impact on the export of the crisis to cause a decline in the euro zone's growth in the second half of this year. The eu is China's largest export market, its current accounts for the proportion of China's export market about between 18% and 21%, so if from the eu created by shrinking external demand, the second half of this year China's export situation is not very optimistic. But as Europe's debt crisis under control, would reduce the impact onChina's exports. The second outbreak ofEurope's sovereign debt, increased short-term volatility of capital flows. The crisis in global risk aversion is aggravating, money back. Facing China is not a short-term capital from inflow to outflow, instead China will likely face more turbulent short-term capital inflows, as compared with the United States, China is a safe haven, and us GDP growth this year will be more than 9%, at the same time, the pressure of RMB appreciation against the dollar still have domestic inflation expectations increase the possibility of improving domestic interest rates, so increased the interest rate differentials between China and developed countries, these comprehensive shows China is also a reason to attract hedge funds, including escape money flows into an important target market. In the first quarter of this year China's foreign exchange reserves increase of $47.9 billion, while the trade surplus in the first quarter of 144. $900 million, in the first quarter ofChina's direct investment in 900 million. $400 million, in the first quarter of foreign exchange reserves - trade surplus - direct investment = 99. Us $700 million. Also the general sense of hot money in flow intoChinain the first quarter of 99. As much as $700 million. If this will have more short-term capital inflows, thereby increasing the central bank reverse the pressure, will cause domestic inflation and asset prices more pressure.

Second,China's response to the debt crisis

First, the European debt crisis before the domestic economic policy adjustment; Our country has entered the era after the financial crisis, coupled with the advent of the euro storm, domestic economic growth is restricted by a certain extent. But since 2010, our country economic restructuring, investment, consumption remained strong momentum, fiscal revenue growth,本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。