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Western pressure on RMB appreciation and other industries affected by shoes

With the escalation of trade friction, the RMB has also ushered in a new round of upward pressure. Barack Obama, billionaire financier George Soros, Nobel Laureate in Economics, Paul? Krugman have fired, condemned the RMB exchange rate is too low, encouraging appreciation of the yuan as soon as possible.

  The same time, the market may once again allow the Chinese yuan is also one-off appreciation of the endless speculation. Although Premier Wen Jiabao made it clear that in 2006 there will be no more one-off appreciation of the yuan, but in the international financial speculators, sector driven by market dealers, the recent market may be one-off revaluation of the yuan rumors were flying around.

  Face of economic hardship revived suddenly and to the appreciation pressure on the Chinese how to do?

  Frequent Western pressure For appreciation "Proposed one-time revaluation of the RMB will pass out of inflation." This is the international financial predators George? Soros's latest argument.

  Soros hedge fund sector, the godfather-class people have repeatedly called for yuan appreciation. To Hong Kong last month, the Soros, he put forward a "blockbuster": China to allow RMB appreciation would be wise to avoid hot money inflows One solution is to make one-off revaluation of the yuan, and then to gradual adjustment of the floating exchange rate system. In his view, allowed the yuan to appreciate, in addition to China's inflation output to the United States, but also because China maintains a sound economic development initiatives.

  Since July 21, 2005, China launched the reform of RMB exchange rate formation mechanism, when the dollar exchange rate as 8.27:1, and appreciation as the market constantly changes. Mid-2008, the occasion of the global financial crisis worsened, the RMB exchange rate began to stabilize fluctuations in a narrow range between 6.82-6.84, changed the previous trend of continuous rise.

  As the global economy continues to recover, the international demands, increasing pressure on RMB appreciation. The second half of last year, some Westerners have repeatedly to "the RMB exchange rate is low," the first ground, and constantly exchange rate speculation, "lead to global economic imbalances", "induced financial crisis", "affecting the developed countries of employment" and "detrimental to developing countries interest "argument, to put pressure on RMB appreciation.

  It is worth noting that with the continuous warming of Sino-US trade friction, the recent international "force" significantly increased appreciation of the renminbi's remarks.

  2009 11 month, U.S. President Barack Obama, have already referred to the yuan exchange rate issue, but widely seen as "moderate attitude." However, meeting this year, Senate Democrats, Obama appeared in an aggressive tone on this issue.

  Obama in interviews with western media, said, "In the next year, my goal is to make China realize their interests RMB appreciation." The "persuade" the intent is fairly obvious appreciation of the renminbi.

  2 25, 15 Members of the United States Senate joint letter to U.S. Department of Commerce, that the Chinese government manipulating the RMB exchange rate is low, in order to profit in foreign trade. China's subsidized exports to the United States threatened the practice of manufacturers and workers, and asked the Obama administration put pressure on the RMB exchange rate, saying, "If you do not, would undermine U.S. manufacturing." 15 members in the joint petition of the day, Federal Reserve Chairman Ben Bernanke echoed this view and asked China to increase flexibility of RMB exchange rate issue, saying it would help to avoid economic overheating.

  Seemed "Great minds think alike", the International Monetary Fund (IMF) recently issued a report saying the dollar is still some to be overestimated, but closer to the equilibrium level; the RMB real effective exchange rate depreciation, and was seriously underestimated. The report concluded that, from the real exchange rate, the dollar has been the way since the early 2009 devaluation, with the hedge fund flows subside, although there are still overvalued U.S. dollar, but closer to medium-term equilibrium level. The real effective exchange rate of RMB and U.S. dollar were to follow the decline in the medium term, the RMB exchange rate has been "grossly underestimated."

  Some foreign financial oligarchy, also targeting the yuan "rhetoric." Such as Goldman Sachs boldly predicted that China would consider a one-time revaluation of the yuan at least 5%; French bank Societe Generale's chief Asia economist, said the mainland will likely be in April or May the yuan strengthened by 5% to 10%, which is currently the most radical view of RMB appreciation; Nomura Securities, Standard Chartered Bank and other institutions of that in 2010 the exchange rate of RMB against the U.S. dollar will have a 3% -5% of the appreciation of space, the appreciation in the second half gradually.

  What is more, high unemployment blamed the U.S. exchange rate is too low. In recent months, the Nobel Laureate in Economics, "New York Times" columnist Paul? Krugman has been in his column and blog in clamor, saying China, predatory mercantilist deliberately not let the yuan appreciate. Krugman claims that the renminbi is too low leads to 1.4 million Americans unemployed. And declared that if the yuan appreciate, a large number of manufacturing jobs will be immediately returned to the United States, trade imbalances will disappear.

  The U.S. Senate announced on April 15 so-called "currency manipulator" list. It is foreseeable that the RMB exchange rate will be continuing the recent stir-fried in the United States.

  Advocating appreciation of the renminbi Who filled wallet?
  The West points an accusing finger on the RMB exchange rate is little new in the. Some experts, the United States and Europe, "biting" the RMB exchange rate issue and hold more in order to make up their own lack of competitiveness of playing "small thinking."