汇率问题外文翻译(适用于毕业论文外文翻译及中英文对照)

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2024年6月7日发(作者：)

China's exchange rate policy to the evaluation

Abstract:

this article from the four aspects of RMB exchange rate policy, that in

the past five years, China's trade imbalances and exchange rate system is getting

worse and worse, no sign of improvement; The existing international organization for

its members though exchange rate policies are clearly defined, but have no

enforcement; The current Chinese exchange rate policy, no matter to China, the

United States, or any other country is bad; For China's exchange rate policy, at present

there are generally an error, which greatly, rapid appreciation of the RMB not feasible,

not suitable for; China should immediately be RMB exchange rate from the current

level to rise by 10-15 percent.

I. introduction and preview

Thank you Mr. Chairman gave me the opportunity to speak to me Chinese

exchange rate policy's views. First of all, in the past five years, China's exchange rate

policy reform in the slow progress; Secondly, I'd like to say why China's exchange

rate reform statement to the Chinese economy will slow progress, the American

economy, international monetary system, and the global trading system have an

important impact on; Again, I mainly expounds the relevant Chinese exchange rate

reform is slow excuse and can't convincing alibi and reasons; Fourth, about China's

exchange-rate policy of several erroneous zone. At last, I in China in the next one to

two years, in promoting exchange rate reform can and should take some action, I will

take this a few problems initiates.

First, in the past five years, China's trade imbalances and exchange rate

system is getting worse and worse, no sign of improvement.

In 2006, China's current-account surplus soared (soar) to 9% of GDP, at present

the RMB against China's trade partners of the mean value at least 30% undervalued

currency; Against the dollar, is at least 40% undervalued. From June 2005 to now, up

6.5% against the dollar, but relatively revaluation of the RMB against the dollar was

not enough to suspend (halt) China's competitive power in the international market of

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cumulative rises, also did not reduce China's trade surplus.

Second, the existing international organization for its members though

exchange rate policies are clearly defined, but are not enforced.

First look at the Chinese government, although China in the past four years have

been engaged in a lot of, single direction of the foreign exchange market intervention,

the Chinese authorities are still denied currency manipulation. Second look at the

Treasury, although a lot of evidence showing China handle the truth in the foreign

exchange market, but the Treasury still refused to China defined as "currency

manipulator". Finally see the international monetary fund, although the IMF is one of

the original intention was established to promote the development of all countries

exchange rate policy, but now it looks, the IMF's senior officials have also would not

for a dedicated to the IMF construction supervision and restraint world international

coordinating mechanism of exchange rate policy.

The third, and the slowness of the progress of China's exchange rate policy

reform, no matter to China, the United States, or any other country is

unfavorable.

In China's case, the RMB is undervalued currency manipulation and serious fact

behavior of China to the foreign trade from the balance and consumption Spill-over

economic growth target, also on the China's monetary policy independence, also

interfere with the reform of the Chinese banking system, and improve the

international society to China in international currency and trade system inside

become a "responsible stakeholder" in doubt. For America, the RMB is the modest

rise not promote Asia the positive development of exchange rate system and the role

of the U.S. trade deficit and no so and be able to improve and will not reduce the

dollar crisis happened U.S. economy and the risk of a hard landing. If this situation

continues, emerging market countries may follow China in succession, that will give

the global currency system brings the serious influence, and even can be caused by

the U.S., Europe, Japan and other countries of the backlash.

Fourth , the Chinese exchange rate policy , the current prevalence of a

misunderstanding, that the RMB is substantially rapid appreciation is not

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