(单词翻译:单击)
He predicted that by 2010, Chinese GDP might reach 30 trillion yuan. By that time, Chinese stock market capitalization might total 40-45 trillion yuan. At that time, Shanghai stock composite index might touch 8,000-10,000 points, the China Business News reported.
Recently, the A-share market index rose at a much faster speed than Japanese stock market when it was at its peak time in the 1980s. The A-share market index rose by 300 percent in less than two years, while the Japanese Nikkei used five years to increase its stock index by 300 percent, he said.
According to him, at present Chinese stock market is similar to the then Japanese stock market in two aspects. First is the two stock markets booming with governments of the two countries implementing3 a low interest rate policy. In the 1980s, in order to alleviate4 the pressure arising from the rising Japanese yen5, the Japanese government applied6 a low interest rate policy. Chinese government now is faced with a similar situation. Second is the low interest rate resulting in excessive liquidity7 problem.
However, the two countires are also different in some ways. After signing the Plaza8 Accord, the yen appreciated quickly. However, in China, the yuan value still remains9 relatively10 stable. As a result, China has sufficient fund supply.
Also, Japan at that time was at a different economic stage from China today. When Japanese stock market reached the high point, Japanese economy had entered into a mature stage. At that time, Japan could maintain an economic growth rate of 3%-5% at most, while in China today, Chinese economy growth is on a fast track and its economic growth rate far exceeds Japan in the 1980s, Ted Tokuchi noted11.
1
ted
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vt.翻晒,撒,撒开 | |
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2
vice
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n.坏事;恶习;[pl.]台钳,老虎钳;adj.副的 | |
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3
implementing
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v.实现( implement的现在分词 );执行;贯彻;使生效 | |
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4
alleviate
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v.减轻,缓和,缓解(痛苦等) | |
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5
yen
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n. 日元;热望 | |
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6
applied
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adj.应用的;v.应用,适用 | |
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7
liquidity
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n.流动性,偿债能力,流动资产 | |
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8
plaza
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n.广场,市场 | |
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9
remains
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n.剩余物,残留物;遗体,遗迹 | |
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10
relatively
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adv.比较...地,相对地 | |
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11
noted
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adj.著名的,知名的 | |
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