RMB is pegged to the dollar, rooted in two historical periods
RMB is pegged to the dollar, rooted in two historical periods
. The first time is a 1955-1970, 15-year period to $ 4.618 dollar exchange rate is not a change. The second period is the period 1998-2005, almost unchanged exchange rates (8.27) lasted 7 years. Previous paragraph backgrounds is planned, the country's foreign trade and Foreign Exchange Commission received franchise marketing support, the "Exchange" is not in the foreign exchange market the market
Replica Watches still does not exist. Clearly overestimated the RMB exchange rate, but the expression of a State to low-cost control scarce foreign exchange resources policy intentions. Against all expectations, is an executive order to suppress the exchange of price just artificially low food, agricultural and industrial products of any price will surely bring suppression effect of foreign currency supply. The result is "fewer marketing, more marketing less." There are benefits, exchange rate stability, and certainly never too many foreign exchange reserves. It is worth mentioning Swiss Watches that the episode is that the "great leap forward" raises the Republic for the first time in the history of high inflation, leave the system in the background "is the best currency exchange rate anchor of" fundamental weak.
After a period of experience worthy of analysis, since the present and the future of the close relationship of the RMB exchange rate mechanism. In my opinion, since 1997 the RMB is pegged to the US dollar exchange rate, which is based on the theory and design of distributed products, but rather the result of a series of events. Specifically, the main three events: in 1993 and a height of Fake Watches inflation and the subsequent inflation governance; Chinese 1994, after the first wave; the 1997 Asian financial crisis. The gathering of that wave of inflation. In 1993, the China price over 16% in 1994 to 24%. Considering the price control is still widespread, "stealth inflation pressure" should not completely written into the index. China's economic prospects, but worrying. In the right place at the right, under Deng Xiaoping's support Foundation hands a certain cure inflation pain. The result is three years price reduced to 2.8%, former Fed Chairman-Walker by better. From governance, Zhu Rongji and Walker, and afterwards, not to rely on the interest rate adjustment, direct bite the tightening of monetary supply, inflation pressure.
Do not forget. Hainan was invited to take part in the seminar. See economic school under the aircraft. Was in the sea of friends to build high-top viewing, I totally forgotten before the sea. This is how big of a deal than big County's new capital city, about tall buildings. Where's the? said to be around yingxionghaojie investment. A shareholder whose money?, small head out of the big banks. Many shareholders money, it also comes from the Bank. It is on the roof, I learn a new vocabulary, said "made mechanism". Individuals, corporations, local branches of the Bank loans, make up the total lending bank lending, headquarters force people. This is the Rolex Watches price of flushing. Cruise down the next day, Zhu Rongji rectification financial policies. The Bank received death command, recovery of the loan. All of a sudden storm. Beijing, Shanghai, Hong Kong and Taiwan compatriots to sell merchandise, real estate market it is said that fell by half. Haikou is not talked about friends let us open our eyes for that together with the other hundreds of buildings one-stop was in 1989. Hong Kong and mainland newspaper headline "uncompleted," not enough accurate, because many haven't. I was talking to visit, even if attitudes more moderate, but also a lot of criticism of the policy. To a few years later, we see that if there was not to kill inflation, later under the Malay "China's story" is another version.
I think that inflation deal best place is to suppress the price situation, by the national people's Congress to adoption of the people's Bank of China law. This is clearly the people's Bank of China's Central Bank law, apart from the "people's Bank of China State Council regulated under the leadership of the independent implementation of monetary policy according to the law, the performance of their duties, conducting business, local government, at all levels of Tiffany Jewelry government departments, social organizations and individual intervention", in particular, stipulates that "the people's Bank of China shall, to the Government overdraft shall directly subscribe, underwriting debt and other government bonds" (article 29). This means that not only by legislation to establish a central authority, and eliminates the threat of RMB currency over the years, rising inflation the Government of the lesions due to financial needs-from currency. This is the root cause of the problem, affecting the long-term future of China.
RMB is pegged to the dollar, rooted in two historical periods
By: louboutin88
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