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1、China'sexchangeratepolicytotheevaluationAbstract:thisarticlefromthefouraspectsofRMBexchangeratepolicy,thatinthepastfiveyears,China'stradeimbalancesandexchangeratesystemisgettingworseandworse,nosignofimprovement;Theexistinginternationalorganizationforitsmemberstho
2、ughexchangeratepoliciesareclearlydefined,buthavenoenforcement;ThecurrentChineseexchangeratepolicy,nomattertoChina,theUnitedStates,oranyothercountryisbad;ForChina'sexchangeratepolicy,atpresenttherearegenerallyanerror,whichgreatly,rapidappreciationoftheRMBnotfeasib
3、le,notsuitablefor;ChinashouldimmediatelybeRMBexchangeratefromthecurrentleveltoriseby10-15percent.I.introductionandpreviewThankyouMr.ChairmangavemetheopportunitytospeaktomeChineseexchangeratepolicy'sviews.Firstofall,inthepastfiveyears,China'sexchangeratepolicyrefo
4、rmintheslowprogress;Secondly,I'dliketosaywhyChina'sexchangeratereformstatementtotheChineseeconomywillslowprogress,theAmericaneconomy,internationalmonetarysystem,andtheglobaltradingsystemhaveanimportantimpacton;Again,ImainlyexpoundstherelevantChineseexchangeratere
5、formisslowexcuseandcan'tconvincingalibiandreasons;Fourth,aboutChina'sexchange-ratepolicyofseveralerroneouszone.Atlast,IinChinainthenextonetotwoyears,inpromotingexchangeratereformcanandshouldtakesomeaction,Iwilltakethisafewproblemsinitiates.First,inthepastfiveyear
6、s,China'stradeimbalancesandexchangeratesystemisgettingworseandworse,nosignofimprovement.In2006,China'scurrent-accountsurplussoared(soar)to9%ofGDP,atpresenttheRMBagainstChina'stradepartnersofthemeanvalueatleast30%undervaluedcurrency;Againstthedollar,isatleast40%un
7、dervalued.FromJune2005tonow,up6.5%againstthedollar,butrelativelyrevaluationoftheRMBagainstthedollarwasnotenoughtosuspend(halt)China'scompetitivepowerintheinternationalmarketof12cumulativerises,alsodidnotreduceChina'stradesurplus.Second,theexistinginternationalorg
8、anizationforitsmembersthoughexchangeratepoliciesareclearlydefined,butarenotenforced.FirstlookattheChinesegovernment,althoughChinainthepastfouryearshavebeenenga
