[Editor's Note] The author of this article is the chairman of the Global Think Tank of the United Nations World Silk Road Forum and the general consultant of the Center for National Conditions and Development Strategic Security Research. The author himself authorized the publication.
The United States' financial war against China is even more intense. Don't talk about confusing arguments such as international financial norms. Hong Kong is already under key financial attacks; Chinese stocks listed in the United States have only US$700 billion, and don't say that this is a normal capital hedging result. For the withdrawal of foreign banks, a systematic constitutional countermeasure is also needed to study. Don't say that this is a normal response made by the market, rather than a planned, organized and hidden accelerated retreat of Western capital. What will follow will be financial sneak attacks, decoupling and robbery. People who pretend to be blind will only talk about the darkness they are trying to exaggerate. Those in China who intentionally or unintentionally downplay the current situation of the financial war and talk about financial openness are also worthy of being vigilant.
At present, the opponent's strategy is to create a time window for RMB depreciation, take the opportunity to plunder China's capital and wealth, and crack down on Hong Kong and China's financial open system, which is to force China's financial inversion. Relatively speaking, our response can be more timely, strengthened and effective.
In front of the US dollar, the RMB was also a big defeat in Dunkirk. There was no resistance all the way down. The exchange rate is now almost 7.3. Why retreat all the way into Shanhaiguan? What is underway is a cruel financial war and a cruel financial massacre. In the face of the US financial attack, Russia won a big victory, but what about us in China? Where is the root?
For a period of time after the 20th Congress, foreign financial games cannot be delayed for a moment, and our opponents will launch more fierce attacks during the handover and connection period. To this end, we should urgently form a shadow staff department in financial warfare (such as under the Financial Security and Stability Committee), and draw people who are politically reliable, patriotism and love the Party, have strong business, broad thinking, clear thinking, and can win, and speed up the formation of a staff team with high rapid response capabilities.
At the same time, China's financial system cannot fall into a trivial transactional trap, cannot be influenced by old tools, and cannot blindly adjust interest rates today and reserve ratio tomorrow is macro-control . We must reflect on the problem of the current financial architecture and macro tools keeping pace with the times, and we must consider updating the tool library and methodology from the underlying foundation.
The current modernization process of China's financial system is most needed by self-revolution . What is most needed is to quickly define and safeguard the financial interests of the country and the people. We cannot continue to passively delay and believe that we are tied to the chariot of the international financial order and discourse system dominated by the West, otherwise there will be big chaos and big misunderstandings sooner or later. The reform of China's financial system is imminent and cannot be delayed for a moment. We must adhere to the orientation of serving the people, and we must liberate ourselves from the old framework of safeguarding Western interests and break out a new path. This is a serious issue that all decision-makers, regulators, and practitioners in China's financial field must face seriously.
Third, it is time to solve the structural problems existing in the upstream and downstream of China's science and technology innovation system.
The upstream financial system needs comprehensive and systematic major reforms, especially China's banking and securities systems cannot mature and function, and have profound internal structural reasons. Only by truly building a modern financial system with Chinese characteristics can we hope to obtain more free resources from the aspects of inefficiency, interest transfer, etc. in real estate, infrastructure, and financial behavior models; the downstream government and military procurement ends also need to be thoroughly cleaned up. If the problem of reverse-elimination of procurement caused by power collusion on the market end is not solved, the false bubble of the scientific and technological innovation system will be difficult to solve, and the positive incentive market ecology will be difficult to establish. China needs a top-level plan for the reform of a systematic and scientific scientific and technological innovation system. It is the core task to break out of scientific and technological innovation to promote scientific and technological innovation, and to shape a more efficient and fair external financial and market environment.
Fourth, China's finance and currency must seriously consider how to escape from the poisoning and erosion of the US economy and the US dollar.
As for a country, currency, as a general equivalent, is nothing more than a valuation carrier for factors and materials, and a function of carrying the value scale. In the current international financial ecosystem, the US dollar, which is the world currency and the hub of the world monetary system, is increasingly losing its qualifications and attributes as even non-world currencies, as currency, have seriously dissipated, directly infecting and eroding the functions and attributes of sovereign currencies of various countries, including the RMB.
USD and the toxic economic system of the United States have seriously damaged the economic bodies of countries around the world and destroyed the overall security of the world economy. For example, if the RMB continues to maintain its existing connection with the US dollar, it will be a strange and tragic existence like wearing the shackles of the United States. The RMB must complete the independent process in a planned manner, which is also the only way for Chinese-style financial modernization. The existing exchange rate and its generation mechanism must be cracked. The American dollar system's deprivation of China's wealth must be terminated.
Finally, the financial competition between the East and the West will soon cease to exist, and we want to withdraw. Although we will still be open to the outside world, we must break out of the discourse of financial order and currency exchange rate system dominated by the United States. The ending will surely be a tragedy in the West, and no one plays a casino that is only closed. The internal circulation of the West has actually begun, and it is now in the process of internal circulation, and the United States has almost disappeared from Europe. In the visible future, facts will prove that only China is the bottom liner and savior.
China must wait in action, grow stronger in struggle, uphold the truth and innovate, and watch the clouds rise and fall.
