There are many factors affecting the price. One unavoidable factor accounting for the low price in the United States is that for many years it has maintained a very low rate of inflation. Cent as the basic unit of currency still circulates in the market. Therefore, the U.S. price stability is evident.
A finance critic named Han Bing recently went the United States and he met a group of Chinese tourists in Los Angeles when they were shopping crazily. In a bag shop almost every person from China bought more than two boxes because they them to hold what they had bought in the U.S. When they were choosing the commodity, they were surprised to find that they prices were much lower than that in China.
It is not surprising that the international brand-name goods, taking into account of levy high tariffs, plus freight and other factors, are expensive than in the West. However, some Chinese-made goods are actually much more expensive in China than in the U.S., in fact, this is really ridiculous.
There are many factors affecting the price. One unavoidable factor accounting for the low price in the United States is that for many years it has maintained a very low rate of inflation. Cent as the basic unit of currency still circulates in the market. Therefore, the U.S. price stability is evident. During the 30 years after China adopted reforming and opening up policy, Chinese cent as the basic unit in the RMB has retreated from the circulation. To a certain extent, this can reflect the speed of price increase in China.
The privileged position that the United States enjoyed can partially account for the above stability. As the international currency, even though the United States has to face some slowdown in the growth of economy, in the process of the currency circulation, it can make it possible that the other countries may share its loss. China has actually made some contribution.
Some scholars believe that root causing such differences in China and the United States is that when the two countries are involved in the process of globalization, there is the formation of a very pro-American economic relation.
China has constantly promoted cheap exports to the United States through a variety of policy tools driven by the purposes of solving the employment problem. This has fully depressed commodity prices in the United States, especially commodity prices. At the same time, China has turned a large sum of dollar that it has earned into various forms of securities assets and reserved them up quietly and stably in the United States. From both the supply and consumption, China has been friendly and helpful enough for inhibiting price increase in the United States.
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