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和田翻譯公司關(guān)鍵字：Abstract: In recent years, Japan, the United States until the outside world have made the yuan to appreciate, or even revert to a similar 1985 "Plaza Agreement", the RMB exchange rate appreciation pressures facing. This paper argues that, although there is a certain appreciation of the RMB exchange rate pressure, but not necessarily as serious as the outside world that, in the short term need to remain stable exchange rates.
Keywords: exchange rate formation mechanism of RMB exchange rate appreciationFirst, the pressure on the RMB exchange rate appreciation
1, the pressure from the international environmentFrom an international perspective, since the Iraq war, the U.S. implementation of the U.S. dollar against euro, yen depreciation of the exchange rate policy專(zhuān)業(yè)翻譯公司收費(fèi)價(jià)格, to bring all the more significant trading partners of economic專(zhuān)業(yè)翻譯公司服務(wù)最好的 losses caused by the strong opposition from trading partners. At present, China has adopted the U.S. dollar exchange rate lock system, therefore, driven by the yuan's devaluation of the dollar devaluation in disguise, too, to cause a new round of trade partners to revalue its currency criticism.
U.S. Treasury Secretary John Snow said the U.S. will encourage China to adopt a flexible exchange rate regime to the transition initiatives. Goldman Sachs, the use of global exchange rate equilibrium model test results underestimate the magnitude of the yuan is 15%, the Goldman Sachs consortium is expected that China will gradually widen the yuan's volatility, the investment banks have also joined the "appreciation of the renminbi on the" camp, Citigroup and Deutsche Bank issued a report that the yuan and the dollar will rise 3% within a year. "The Economist" more in the traditional theory of purchasing power parity basis, the "Big Mac" index, for example, to support its "value of the renminbi is still low," the argument. It is based on the U.S. major cities, "Big Mac" hamburger average price of 2.7 U.S. dollars, China, the world's most expensive hamburger price, only $ 1.20 to $ 4.52 and Switzerland.
Since late 2002, the Japanese government政府許可的定點(diǎn)正規(guī)翻譯公司 and the public media also proposed a "China threat theory" of the new statement, accusing China of "exporting deflation" to revalue its currency. December 4, 2002, Japan's Vice Finance Minister Haruhiko Kuroda in the British "Financial Times" published an article called "China should assume the responsibility of the yuan revaluation." January 28, 2003, Japan's "Yomiuri Shimbun" published an article accusing China to some extent exacerbated Japan's deflation. February 22, Japanese Finance Minister Masajuro Shiokawa Group of Seven meeting in the OECD countries to be submitted by the other six proposals call for a yen for the 1985 "Plaza Agreement" similar file to force RMB appreciation. March 2, "Japanese economic專(zhuān)業(yè)翻譯公司服務(wù)最好的 News" published an article called "China's output to the Asian countries had deflation." March 6th, the Japanese Diet a senator speech, suggested that China should be RMB appreciation, so as to reduce the output deflation in Japan and the world economy.
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