日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Make me your Homepage
left corner left corner
China Daily Website

Yuan's devaluation message

Updated: 2014-02-27 07:19
( China Daily)

The unexpected fall of the yuan against the US dollar since mid February has gained far more attention than is justified by its size.

The Chinese currency slid for a seventh day on Wednesday to a six-month low against the greenback, sparking widespread speculation that its long-term strengthening has now reversed.

Given that many other emerging-market currencies are under great pressure from the reversal of capital flows triggered by the US withdrawal from its super loose monetary policy, it would be understandable if the Chinese currency follows suit as its economy slowed.

Yet, the fact that the yuan has so far weakened by only about 1 percent against the US dollar during this round of depreciation should not be taken as compelling evidence that the steady rise of yuan has come to an end.

Although the world's second-largest economy has bid farewell to its double-digit growth, there is no sign of any fundamental change to its global competitiveness that would significantly affect the value of its currency.

Hence the abrupt change in the exchange rate of yuan against the US dollar just after the country registered much-better-than-expected trade growth in January must be telling us something else.

Some people have pointed to the rising number of speculators betting heavily on the continued rise of yuan as a reason why Chinese policymakers need to step into the foreign exchange market.

The negative impact of such short-term capital inflows, especially when accelerated, would make a good reason for the Chinese authorities to make a timely intervention. But that can hardly be a key reason given the country's effective control over capital account.

More likely, the real reason that Chinese policymakers would like to let the currency drop for the moment lies with their growing concern over the country's ballooning foreign exchange reserves, which had soared to $3.82 trillion at the end of 2013.

The rapid accumulation of more than necessary foreign exchange reserves will only make it increasingly difficult to address China's domestic and international imbalance while protecting the value of its forex reserves, the world's largest.

The recent storm in the currency teacup might be sending the message that there will be more actions are in order to better regulate the country's balance of payments to support domestic reform and growth.

(China Daily 02/27/2014 page8)

8.03K
...
主站蜘蛛池模板: 亚洲欧美日韩在线不卡中文 | 一区二区三区四区在线 | 中文字幕第一页在线 | 在线观看中文字幕 | 99国产精品视频免费观看 | 黄片毛片一级 | 亚洲毛片免费看 | 久久成人国产 | 精品一区二区三区免费 | 亚洲国产精品综合久久网络 | 国产精品久久久爽爽爽麻豆色哟哟 | 成人黄色免费视频 | 秋霞伊人 | 亚洲一二三区精品 | 久久久91| 国产午夜精品一区二区三区在线观看 | 日韩不卡免费视频 | 久久久久久影院 | 国产福利不卡 | 国产成在线观看免费视频 | 91视频链接 | 性夜影院爽黄a免费视频 | 尤物网站永久在线观看 | 国产精品在线 | 婷婷丁香色综合图亚洲 | 成人亚洲 | 欧美高潮| 日日舔夜夜摸 | 久久亚 | 中文精品在线 | 一级女性大黄生活片免费 | 综合一区二区三区 | 久久久久久久久久久久久久久久久久久 | 99成人| www.伊人 | av播放在线| 亚洲欧美日韩精品久久奇米色影视 | 精品国产一区二区三区久久久蜜臀 | 亚洲综合在线视频 | 天天摸夜夜摸狠狠摸夜夜摸 | 康熙大帝1994蔺达诺版 |