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 aga