MARKET WATCH

正OPINION Sustained Yuan Appreciation Unlikely Recently,the continued depreciation of the yuan has aroused extensive attention.Some think it was the result of intervention by the People’s Bank of China,the country’s central bank,to pour cold water on expectations of renminbi appreciation.If it’s true,the central bank has set out to make preparations for prospective exchange rate reform.According to the report on the implementation of monetary policies in the fourth     

WORLD

正JAPAN A trader from London protests in front of the office of MtGox in Tokyo on February 26.The trading platform for the digital currency bitcoin went offline following a suspected multimillion dollar theft UKRAINE People light candles near a makeshift memorial in Kiev on February 25 in homage to protesters who died in clashes with riot police     

货币转化为资本是生产关系一系列变化的过程

生产关系范畴在马克思恩格斯思想体系中占有重要地位。研究从货币到资本的转化,必须以马克思恩格斯关于生产关系的理论为指导,必须把货币和资本不是看作物而是看作一定的生产关系,把从货币到资本的转化看作是生产关系一系列变化的过程。为了说明货币转化为资本的过程,需要揭示资本流通过程和简单商品流通过程的区别,说明资本流通过程的矛盾及其解决。在此基础上,说明从货币到资本的转化,是以往历史发展的结果和产物,是许多经济变革的总结,要以之前的各种生产形态的灭亡和生产力一定程度的发展为前提。资本主义的生产目的是榨取雇佣工人创造的剩余价值。产业工人在生产过程中创造的剩余价值是剩余价值的唯一来源。资本主义生产过程是劳动过程和价值增殖过程的统一。剩余价值是在生产过程中产生、在流通过程中实现的。资本主义生产过程和流通过程的统一,实质上就是剩余价值的生产过程和流通过程的统一。     

Exploration and Practice in the Shanghai FTZ

正CHINA(Shanghai)Pilot Free Trade Zone(FTZ)offi cially opened on September 29,2013,having gained State Council approval on August 22.The new 28.78 sq km zone encompasses four bonded trade zones–Waigaoqiao FTZ,Waigaoqiao Bonded Logistics Park,Yangshan Free Trade Port Area,and Pudong Airport Comprehensive FTZ–in Shanghai’s Pudong New Area.The zone’s international standards promote investment and trade,unfettered currency exchange,effi cient and fast regulation,and a normative     

The effects of circulatory capitalism on democratization: Observations from South Africa and Brazil

This article argues that the democratization processes taking place in South Africa and elsewhere in emerging market economies cannot be separated from the global economic context within which these processes are taking place. The article illustrates that the mainstream political economy literature has not paid sufficient attention to the issue of the limits and constraints placed upon these newly emerging democracies by the new financial architecture, particularly the derivatives market, which now determines the value and price of emerging market currencies. The article concludes that the workings of this market not only heavily favour the interests of developed countries but that they deeply question the accountability of politicians in those emerging markets and thereby endanger the legitimacy of the democratic project in large parts of the post-colonial world. The article is divided into three sections: first, a critique of some of the leading political economy analyses and their position on the relationship between open-economy policies and democracy; second, an account of the development of the derivatives market since 1973 and a theorization of its implications for currency movements, particularly monetary volatility, of emerging market currencies; third, an illustration by way of the South African and Brazilian cases of the policy implications of currency volatility for creating improved social and economic conditions.     

论货币所有权

货币有着不同于一般物的特殊法律属性,学术界对货币所有权的一些特殊情形探讨不多,我国立法对货币所有权的有关规定较少。货币是民法上一种特殊的物,一般认为“货币所有权与占有一致”,但该原则对一些特殊情形如委托、代理、信托、行纪等不能简单适应。物权法应对货币所有权作出规定。     

美元霸权与欧洲金融安全

美元霸权对于美国国家利益和国际地位至关重要,使美国能够享有"嚣张的特权"。欧元诞生后成为美元"唯一的竞争者",也成为美国警惕和遏制的对象。2008年金融危机后,美国为继续维系货币霸权,利用国际货币体系这一机制向欧元区转嫁风险,具体做法包括金融机构在市场做空欧元、评级机构打压欧洲债务国、舆论唱衰欧元前景、政府拒绝国际金融监管改革要求等。受此影响,欧洲金融安全受到严重冲击,银行业坏账大幅上升,欧元国际地位下滑,经济陷入"双底衰退",欧元区甚至一度面临解体风险。为保障金融安全,欧洲采取了多项措施:通过建立欧洲稳定机制、银行联盟等手段加快弥补单一货币区的机制缺陷;执行严格的紧缩政策,提升经济竞争力;欧洲央行政策弹性增加,更多承担"最后贷款人角色";严格规范评级市场,尤其警告美国评级霸权。通过对欧洲政策的分析可以看出,由于难以形成与美国抗衡的"国家意志"、整体战略资源有限、在安全问题上难以摆脱对美依赖等因素,欧元区维系金融安全的主要思路是"自我修复",针对美国的应对措施和能力有限。这意味着,美元霸权将继续是影响欧洲金融安全的外部因素。     

Course corrections and failed rationales: how comparative advantage and debt are used to legitimise austerity in Africa and Latin America

This article examines the role of ideological mechanisms in support of long-term economic liberalisation. Specifically we examine the ideological roles of comparative advantage and debt reduction as precursors to austerity policy imposition. Austerity policies, as episodic mechanisms designed to deepen neoliberalisation, are examined in the comparative historical context of Africa and Latin America.     

刍议物权法草案中所有权取得的若干规定及其完善

物权法草案(六审稿)中设专章规定了"所有权取得的特别规定",这种体例编排及其中的不少具体规则设计是值得肯定的,但应增补关于"先占"、"货币与有价证券所有权的取得"和"取得时效"的规定,保留并完善前几稿中关于"添附"问题的规定.草案中关于不动产与动产一并适用善意取得的制度设计,可以成立;在善意取得制度对占有脱离物适用的特别规定中,不应仅限于遗失物,亦应适用于"盗脏".草案中关于拾得遗失物问题的规定,也还存在不少问题,值得再予改进.     

中巴关系的发展及其认识误区（英文）

China and Brazil established a strategic partnership in 1993. The bilateral ties have seen rapid development in almost all areas. However, there are eight myths surrounding the China-Brazil relations. These myths are the result of a lack of mutual understanding as well as the misconceptions result misconceptions of the western observers and media. These misunderstandings have of have jeopardized images of the China-Brazil relations and also hindered further development of their bilateral relationship.