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QE3 likes hypertension cannot fix the problem

出自香港新聞網 - 樹仁新傳系學生實習習作

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HONG KONG | By Jack Hui

Published 26 Sep 2012


Due to the launch of the third round of quantitative easing (QE3), local first-hand properties recorded nearly 242 sales transactions last weekend, which is over five time than previous weekend (49 transactions). Chan Pak-tim took hypertension as a metaphor; QE3 could not heal the economic problems but could make the existing economic activities to be normal, and vice versa, there might have a greater crisis without QE.


Hong Kong Economic Journal (HKEJ) Executive Chief Editor Chan Pak-tim said most of his colleagues and himself insisted on opposing quantitative easing (QE) yesterday at the local university assembly. As the QE would not recover US economic, the unemployment rate was still 8.1% in August.


He added that no matter the QE1, 2 or 3, both objectively combated the emerging markets. By the means of the note-issuing and bad-mouthing the other markets, the United State passed the local banking system problems onto others. “In fact, QE makes borrowing rates fell. It led the world investors kept buying the U.S. Treasury bonds, as no other (profitable) investments for them,” As an ideal result, the hot money flows into the U.S. and recovers its economy.


The first two rounds of QE seem no help of U.S. economy, but it caused another social problem, inflation. Even though the basic inflation rate was 3.7% in August, Chan pointed that it was insufficient to reflect public’s substantial stress exposure in everyday life. For example, the expense of dining out needs 30 to 40 dollars currently. There were no wonder that the fast-food chain introduced “4-dollars lunch box” and sold out within an hour. The audiences agreed with laughs.

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