The article you provided is a detailed analysis by Hong Jun, originally published on September 20, 2024, on the mobile version of WuYouZhiXiang (乌有之乡), a Chinese website known for its left-leaning political stance. The article discusses the implications of the US Federal Reserve’s interest rate cut on September 19, 2024, and its potential effects on China. Hong Jun argues that the rate cut is not a retraction of the net (收网) but rather a casting of the net (撒网) aimed specifically at China.
The author criticizes the perspective of a financial blogger known as Teacher Particle (粒子老师), who believes that the rate cut will lead to a significant outflow of capital from the US, potentially fueling an investment boom in China and other countries. According to Hong Jun, Teacher Particle misunderstands the true intentions behind the US rate cut and the broader context of the ongoing financial warfare between the US and China.
Hong Jun asserts that the US rate cut is part of a strategic financial war aimed at gaining control over China’s currency, the Renminbi (RMB), and its circulation. The author claims that the US aims to weaken China’s economic sovereignty by encouraging foreign investment, particularly in China’s financial markets, state-owned enterprises (SOEs), and strategic industries. Hong Jun argues that such investments are not beneficial to China’s economic development but rather serve as a means for the US to exert influence and control.
The author also criticizes the prevailing accountant mentality (账房先生思维) in China’s economic discourse, which he believes lacks a deeper understanding of the sovereignty and political attributes of currency. Hong Jun emphasizes the need for China to protect its monetary sovereignty and resist foreign financial capital’s infiltration.
Hong Jun’s analysis highlights the potential risks and challenges posed by foreign financial investments in China. He warns against the potential for US financial capital to exploit China’s economy, manipulate its financial markets, and undermine its economic independence. The author calls for increased vigilance against the influence of external financial capital and the prevalence of pro-US viewpoints within China’s economic academia.
It is important to note that the views expressed in the article are those of the author and may not necessarily reflect the official stance of the Chinese government or the broader Chinese public. The article showcases the complexity of the US-China financial relationship and the differing interpretations of the US rate cut’s implications for China’s economic and financial landscape.
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