China Tells

Economist: During the global rebalance of economy dynamics, the exchange rate of CNY has played an important role in the process. There is practical incentive from the Chinese government not to revalue the yuan as her export sector has been hit hard by the financial crisis, and if RMB is revalued upwards, the consequence could be disastrous. However, on the other hand, there are good reasons to revalue the Yuan as well. For example a revalued yuan will lower the cost of Chinese imports on the raw materials, and potentail curb the inflationary pressure on its domestic equity and property market. In addition, if China wants to make Yuan more internationally accepted, it is inevitable that China makes Yuan more freely traded and therefore revalued.

经济学家撰文指出,中国政府目前还不想让人民币升值过快，其主要考虑是要保护出口行业。但是从另外一方面看，人民币升值也有助于控制原材料进口成本和国内的通胀压力。同时，如果中国政府想推进人民币国际化，那么自由兑换和升值几乎是不可避免的。