The Quantitative Easing Monetary Policy Impact On China’s Economic Research

The collapse of Lehman brothers in2008, the financial crisis furtherfermentation, to stimulate the America the weak economy, maintain the stability of thefinancial system, the Fed launched a variety of unconventional monetary policy toolsto inject liquidity into the financial markets, both quantitative easing monetary policy.So far, America is the implementation of the four round of quantitative easingmonetary policy. America is Chinese’s second largest trading partner, bilateraleconomic and trade relations is close, so America quantitative easing monetary policywill be influenced by China economic spillover effect.This paper is based on the existing theory, systematic analysis of the impact ofAmerica four round of the quantitative easing monetary policy to Chinese economysince the financial crisis. This paper first analyzes the America quantitative easingmonetary policy in the background, introduces the American quantitative easingmonetary policy and analyzes the implementation effect.This paper mainly introduced from four aspects American effects of quantitativeeasing monetary policy for Chinese economy caused by. First,analysis of the impactof America quantitative easing monetary policy influence on the independence ofmonetary policy and exchange rate policy Chinese; second, through the appreciationof the renminbi, commodity prices and international hot money influx channels suchas analysis of spillover effect on China’s inflation; third, the profit from theinternational capital, America quantitative easing monetary policy will lead tointernational capital flows into China, so the analysis of the impact of China’s capitalmarket; fourth, analysis USA brought about by quantitative easing monetary policy ofthe devaluation of the dollar on the safety of China’s foreign exchange assets effect.The last part of the paper for America quantitative easing monetary policy forChinese economic impact of the corresponding strategies, including improving theinternational status of RMB and accelerate the pace of internationalization of theRMB, control the quantity of money and strengthen the price supervision, strengthen the supervision of the hot money remained stable operation of the macro economy,realize the diversification of its foreign exchange reserves and strengthen the dollarassets "conditioned", establish mechanism of international policy coordination andincrease in the international monetary system in the "discourse right", in order tobring to America quantitative easing monetary policy shock.