八点最热报 | 过去一年来，令吉兑美元就好像吃了泻药一样，从今年一月尾的1美元兑4.24令吉的价位，一路在泻，没有看到停止的迹象。北大经济系教授林福炎受访时指出，我国在出口的同时，也有在进口其他国家的商品。换算下来，其实马币贬值，并没有为我国带来多大的利益。相反的，东西除了变贵之外，还会加剧国内通胀情况。（主播：庄文杰）
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00:00 Before watching the video, I remind you that there is more content on the Hotpoint website.
00:03 In the past year, the interest rate on the US dollar has been like a drug.
00:08 From the end of January this year, the price of the US dollar fell all the way to 4.24 interest rates.
00:13 There is no sign of a stop.
00:14 Last Monday, the interest rate on the US dollar even fell below 4.79.
00:19 It is the 25th year of the new record since the Asian financial storm in 1998.
00:24 Although the day before yesterday, the B market was slightly up to the US dollar at 4.77 interest rates,
00:29 the sudden fall of the US dollar
00:32 will not take long to fall to the price of a 5-cent menu item.
00:40 Will more people have to eat hearty meals?
00:44 With the falling interest rate on the US dollar,
00:46 is Prime Minister An Hua really helpless?
00:49 If the interest rate falls to the point where it is not visible,
00:51 how can An Hua save the economy?
00:55 Professor Xiao Saizi, assistant professor of the University of Notre Dame,
00:57 said in an interview with the "Eight-Point Financial Report" that
01:00 the large-scale inflation in the US Federal Reserve in the past two years
01:03 has not only affected the currency,
01:06 but also many developing countries and emerging countries.
01:10 He said that if we compare it with the pound or the yen,
01:14 the rate of currency depreciation is not so bad.
01:17 Xiao Saizi pointed out that the rate of interest rate depreciation has recently changed significantly.
01:23 So he believes that the interest rate will slowly rebound.
01:28 In addition to the continued rise of the Fed,
01:30 the rate of interest rate depreciation will be affected in the short term.
01:32 Xiao Saizi also mentioned that
01:34 the conflict between Israel and Palestine in the Middle East
01:37 has caused market unrest,
01:38 causing oil, gold and US dollar prices to rise sharply.
01:42 In addition to these currencies other than the US dollar,
01:44 everyone is falling.
01:47 Malaysia, as a trading surplus country,
01:49 may think that it is a good thing to depreciate interest rates.
01:55 However, Professor Lin of the Department of Economics of Peking University believes that
01:58 although the depreciation of interest rates means that
02:00 the price of goods exported by our country will be relatively cheap,
02:04 other countries will be more inclined to choose to buy goods from our country,
02:08 and the income of Denmark in terms of exports will also increase.
02:11 But Lin emphasized that
02:13 because the rate of interest rate depreciation has been too high during this period,
02:17 we need to spend more money to import goods from other countries.
02:22 If you do this,
02:24 the benefits of rate depreciation will not be as much as expected.
02:27 On the contrary, this type of input inflation
02:30 makes more things expensive,
02:33 which further aggravates the overall inflation situation in China.
02:35 Is rate depreciation really a good thing for Malaysia as an export country?
02:41 Professor Lin of the Department of Economics of Peking University pointed out that
02:43 while our country is exporting,
02:45 it is also importing goods from other countries.
02:47 In other words,
02:48 rate depreciation does not bring much benefit to our country.
02:51 On the contrary,
02:52 in addition to becoming more expensive,
02:53 things will also aggravate domestic inflation.
02:55 If rate depreciation is true,
02:57 it will improve our export,
02:58 but also improve our import price.
03:01 So rate depreciation will not bring the benefits we expected.
03:06 In fact, rate depreciation has a great impact on our country.
03:09 The cost of living is increased,
03:11 and the goods we import are relatively expensive.
03:14 So our so-called inflation will increase.
03:18 This is very bad for us
03:20 because our inflation is already at a very high position.
03:24 So adding this depreciation will of course bring greater harm.
03:28 Professor Lin pointed out that
03:29 in fact, the rate depreciation of horses and horses
03:30 is a phenomenon that began with the outbreak of 1MDB scandal.
03:34 In addition, the political changes in the past few years
03:36 have made foreign investors gradually lose confidence in the local market
03:39 and are unwilling to invest in horses.
03:41 Zhang Guolin, the founder of New Capital Investment,
03:43 said that horses are export countries,
03:44 and the market needs horses more.
03:46 But the horses did not increase in value,
03:48 but depreciated.
03:49 One of the reasons is that a large number of investors are leaving.
03:52 The depreciation of our country began with 1MDB,
03:54 and in the end, the political instability
03:56 and many political changes that have never happened before
03:59 have made foreign investors less confident in horses.
04:02 In the end, horses became not an obvious currency.
04:06 So as the economic situation deteriorates,
04:08 there is a lot of uncertainty.
04:10 Many of these so-called short-term investments
04:13 will leave the country's market.
04:15 In the past ten years in Malaysia,
04:17 our exports have been more than imports.
04:20 We have a surplus.
04:21 If we export more,
04:23 we will need more horses.
04:25 In theory, horses should be slowly depreciated,
04:27 but there is no depreciation.
04:28 Why? Because there are many foreign investors.
04:31 With Prime Minister An Hua in office for nearly a year,
04:33 has the United Nations government taken any measures to save the other side?
04:36 Zhang Guolin and Lin Fuyan both believe that
04:38 in fact, since the United Nations government came to power,
04:39 it has been moving in the right direction.
04:42 In addition to seeing An Hua's large-scale subsidies to reduce the financial deficit,
04:45 he is also working hard to find out
04:47 and actively recruit foreign investors.
04:49 I have seen that he has been at these three points.
04:51 The first is to consolidate our country's financial situation,
04:55 which is our budget deficit.
04:56 How to reduce our subsidies and subsidies.
04:59 Second, for the growth of the entire economy,
05:01 recruit investors, FDI.
05:03 Because if you have a lot of foreign direct investment,
05:05 local direct investment, and the economy is good,
05:06 it will help the economy and help the currency.
05:09 Third, the financial market, the capital market.
05:12 How to build this family office in terms of the hard currency,
05:15 maybe leave the money here,
05:16 or attract more people to invest locally.
05:19 On the other hand, you can see that
05:21 our government has begun to reform our economic structure.
05:25 So he started to show foreigners
05:28 that our country will have a stable political situation.
05:32 Then our country will have a great political resolution
05:34 in terms of corruption
05:36 to eliminate this corruption.
05:38 In addition to the current measures,
05:40 what can the United Government of Anhua do?
05:42 Professor Xiao Saizi, assistant professor of the University of Nottingham,
05:45 and the founder of Xinjiang Investment, Zhang Guolin,
05:47 think that the government should focus on improving the country's competitiveness
05:50 and increasing foreign investors' confidence in the Chinese dollar.
05:53 As long as investors are willing to invest their money in the Chinese dollar,
05:55 it can indirectly help the currency to recover.
05:58 The range of such a wave of government intervention
06:02 is relatively small.
06:05 So I think what we can do personally
06:06 is to further improve the competitiveness of our economy
06:09 and the confidence of the industry.
06:11 This can allow more foreign investors
06:13 to enter Malaysia from the US dollar region
06:16 and provide more liquidity to our economy.
06:19 At the same time, indirectly help us improve the currency of the Chinese dollar.
06:22 In the long run, we must have good confidence
06:25 in how to consolidate our financial situation.
06:27 You can't say that the year-on-year is all fiscal policy.
06:30 If the country is in debt, there will be a big problem.
06:32 How can we attract the financial market
06:36 so that we can keep the money in Malaysia?
06:38 As mentioned earlier,
06:42 the interest rate has fallen by 8% in the past year.
06:45 Is it possible to rebound in the near future?
06:48 The founder of Xinjiang Investment, Zhang Guolin,
06:50 thinks that this depends on the inflation situation in the United States.
06:55 If the US inflation situation improves,
06:57 the Fed will no longer need to continue to rise in interest rates,
07:00 and it may even start to fall.
07:03 In this way, the world's currency, including interest rates,
07:06 will have a chance to rebound.
07:08 Professor Lin Fu, professor of Peking University Economics,
07:10 pointed out that many people are expecting
07:12 that the cycle of US Fed inflation will end at the end of this year.
07:17 But even if the Fed stops the rise of interest rates,
07:19 there is still no guarantee
07:22 whether the interest rates can rebound immediately.
07:24 But what is more certain is that
07:26 the situation of interest rate depreciation will at least stop
07:29 or slow down.
07:31 The End. Thank you for watching.
07:34 For more information, please visit www.fema.gov.uk/covid19.