摘要
The U.S. Federal Reserve on September 13 announced a new round of bond-buying and extended the duration of its ultra-low short-term interest rate until mid-2015, marking the third vound of qu;mtitative easing, also known as QE3. This new move is bound to impact the global economy, as well as international capital flows, due to its core vole in the international monetary system. China is not excluded from the impact. On the positive side are short-term and medium-term benefits to China＇s exports. QE3 can help increase growth rates in the EU and the United States, which are the biggest export desti- nations for China. Therefore, Chinese exporte~ will benefit from stronger demand in those coun- Iries after QE3 is rolled out. QE3 can also prop up the market primary commodities and thus benefit developing coun- tries and regions that are highly dependent on those commodities. Those counlries and regions will absorb more Chinese exports. For the past 10 years, China＇s trade with emerging markets has surged at a faster speed than with developed countries and regions.
