Product search

Agents wanted !
If you are interested
pls contact us

Welcome to the world of colposcope and surgical microscope from Zhenjiang Hi-Way Imp-Exp Co., Ltd. For over ten years, we have been pioneer in the development of high precision optical medical instrument in China.
Home    |    Company    |    Contact    |    Technical support and service    |    Events
You in position :News > Content
RMB is not scapegoat

An increasing number of chinese and world citizens realize they are facing such an argument that the Chinese RBM these days has been truly “internationalized”. On the one hand, it is referred to as the scapegoat for the international crisis, which obstructs other countries’ exports and employment. On the other hand, it seems to be an effective vehicle to other countries’ economy development. Once it appreciates a little, it can tremendously stimulate other nations’ economy.

Based on this argument, American Congress proposed the “Schumer Motion” on the morning of March 17th, along with more than 100 senators claiming to impose countervailing duty on chinese merchandise.

Why RMB has such a fantastic effect? What is the truth behind the issue?

In the US, Barack Obama issued the a five-year plan to double American export. The reason why his public support dropped drastically recently is that the unemployment rate is still lingering around 10%. With the mid-term election immiment, the political issues of the election have again become the priority for Barack Obama’s party. It seems that once the US constrains Chinese export, the American export as well as employment can immediately experience a rise. Therefore, putting RMB exchange rate on the table, the US government can not only set up a target, but also give the unemployed an explanation of their situation.

Though the American Government insists on its view, there still many people rationally pointing out the truth. The Trade Development Conference held by UN stated clearly that it will push the global economy into a greater risk if we over-expect the RMB to appreciate and ignore the significance of its stability that contributes to Chinese even the whole world’s economic stability.

In terms of chinese economic development or the global economic stability, we need RMB’s &#118alue maintains a certain level. Some economic statistics indicate that Chinese foreign trade is still in recovery and has a lot of uncertainties in the future. Hence, China needs to stay stable in its foreign trade policy, including in its currency exchange rate policy. The stability of Chinese RMB conduces to the world economic recovery. Now it is still critical to further consolidate the global economic foundation and regain economic balance. Therefore, the drastic appreciation of RMB now will only lead to the world economy worsening. Fundamentally speaking, it is a win-win strategy for Chinese and the world economy to maintain RMB’s &#118alue.

As with the RMB exchange rate mechanism, prime minister Wen Jiabao has elaborated on it before. He claimed that China will not surrender to any pressure to do something harmful to our own development and global economy.

Copyright © 2010 - 2012 ZHENJIANG HI-WAY IMP-EXP CO.,LTD All Rights Reserved