Terminalcables

President hu jintao met with Obama in Hawaii, said the appreciation of the renminbi not solve America's economic problems, in cannes, France twelve countries group (G20) summit says, keeps asking for emerging economies make its currency to appreciate and weaken the export practice cannot help achieve more balanced growth, instead, only will drag the economy into a global recession balance, can not achieve sustainable growth.

The European and American countries often take the exchange rate of the yuan move, request the appreciation of the renminbi's voice almost didn't stop, especially some people have put us and European financial crisis due to RMB underestimated lead to trade imbalance, staying in China's head. About the RMB exchange rate, China and Europe and the United States have consensus have a disagreement.

Changing the style of economic growth for China, for the delay. This requires change the past excessive dependence on export growth mode in pulling, the financial crisis on China's economic impact of more firmly believe it. Therefore, through the RMB appreciation to MLB hats change China gradual vulgar export growth mode and promote industrial upgrading, economic transition to pulling power on domestic demand, is one of the purposes of China's yuan reform. At this point, China and Europe and the United States is consistent. But the, the key point is that China's exchange rate reform can only be gradual, controllable, must consider economic bear ability, especially export enterprise bear ability. If domestic demand especially consumption starting is still need more time, investment and unsustainable situation, because a rise in the yuan by the rapid export carriages to a halt, then, will lead to China's economy to bring greater impact. At present, China is faced with this situation.

At the same time, must see from June 2005 yuan reform since, the exchange rate of the yuan has appreciated about 30%, according to the end of last year the middle price calculation, this year the yuan to the dollar exchange rate the middle price increase has amounted to 4.85%. Among them, this October RMB one-quarter of 0.50%. While China's export enterprises, especially export mini, small and medium enterprises profitability is very low, many are under 3%, have to export enterprise huge difficulties. At present, China's small and medium-sized miniature enterprise management in trouble, the yuan appreciation was one of the reasons too. However, still can't meet demand rapid appreciation of the yuan of the us and Europe desire.

The United States senator had already passed the exchange rate act aims to persecute the yuan rise more quickly, of course, still need to the house of representatives passed and the President signed. Some people insisted that the us and Europe will be the RMB exchange rate to submit to the international meeting to discuss. And, has accused China of manipulating its currency exchange rate. People's exchange rate problem has become China and us and European economic and trade dispute most Discount sunglasses quarrel topic. Xinhua finance comments by overseas for 'he (hu jintao) used so far China on the currency issue the most tough words. 'the author thinks that the' tough 'very timely, is very necessary.

Currently, the debt crisis continue to fermentation, the leaders of the European Union reached a package of aid though Europe debt crisis scheme, but still lacks in the financing and other links on details of operation and performance of a Greek drama that Europe debt crisis farce is still confronted with no variables. The United States continued economic downturn, and unemployment remains high, domestic consumption malaise. The two big economies in the us and Europe is China's most important trade market, we will bring to China's export greater impact. If the yuan appreciation again outrageous, foreign demand downturn and the appreciation of the renminbi double pressure is likely to China's export trade, especially defeating export mini, small and medium enterprises. Take out tough attitude to the international society, bright in the us and Europe especially clear signals: refused to RMB appreciation excessive requirements, have is time. The author noticed, China's ministry of commerce minister Chen deming in the G20 summit clearance when accepting a reporter to interview also said he thought the currency has risen to a reasonable level.

Next, the central bank should shoulder the responsibility of maintaining the stability of RMB. In the global economy expose the second agent signs of, all countries in the domestic economic growth and for government intervention in the currency at the curb appreciation or carry out devaluation in order to promote its economic growth. China, as a developing country, emerging market countries body should be more firmly control the RMB exchange rate, play to promote economic growth and stable exchange rate of economic growth and not containing the role in turn impediments to economic growth.