人民币主动升值降管理通胀(国外英语资料).docVIP

人民币主动升值降管理通胀(国外英语资料) The yuan has been actively appreciating and falling inflation. Liu jinhe is the chief researcher of the macro group If you look closely, it is easy to see the renminbis recent appreciation against the dollar. If some time ago is pressure from the United States have to passive appreciation, then the yuans appreciation against the dollar in recent months more shows initiative is eagerly. In particular, in the 21 trading days since August, the yuan has risen 13 times in the middle of the dollar to a high of 10. The yuan rose 0.86% in August, well ahead of the gain of 0.23% and 0.42% in February. With more and more small and medium-sized enterprises struggling, why is Chinas attitude toward the renminbi changing so dramatically? On the surface, external pressure, especially in the United States, is a widely publicised reason for the widespread media reception. In nearly a decade in China through the so-called comparative advantage, by cheap pulling power and resources the accumulated up to more than $30000 in foreign exchange reserves, in as the worlds reserve powers at the same time, also become the main external put pressure on the appreciation of the renminbi. But in terms of the current economic environment, the renminbi has taken active rather than passive rise, its the main reason is only one: the monetary authorities in the face of inflation are incompetent monetary tightening force, have to rely on unconventional exchange tool to curb inflation. Recent figures show that the trend of worsening domestic inflation is not slowing, but growing. Even officially, the CPI hit a three-year high of 6.5 per cent in July. At the same time, the local debt high, the real estate bubble, and concern about the decline of the economic growth makes the central bank timid on using traditional tool of interest rates, to get as much as 21% of the reserve requirement ratio at the same time also make further adjustment to save the limited space of gold. In the dev