人民币实际汇率变动对美中贸易逆差影响的实证分析——以行业为视角.pdf

Abstract Since financial crisis happened in USA in 2007, the huge USA-China trade deficits has contributed to the update of trade conflicts between two countries and the American government tried to define China as a currency manipulator and brag the theory of the RMB appreciation. However, will the appreciation of RMB decrease the trade deficits between USA and China? This paper will analyze the relationship between changes of the RMB real exchange rate and USA-China trade deficit