中国的汇率政策与美国的贸易逆差

China's Exchange Rate Policy and US Trade Deficit

本文从两个方面探讨了中国汇率政策与美国贸易逆差之间的关系。其一,是否中国的汇率政策造成美国贸易逆差;其二,人民币升值后能否减少美国贸易逆差。本文的结论是:中国的汇率政策与美国贸易逆差之间没有必然的联系,人民币升值对减少美中贸易逆差影响有限。

This paper analyses the relationship between China＇s exchange rate policy and US deficit from two sides. It first discusses whether US trade deficit was caused by China＇s exchange rate policy. It second argues whether US trade deficit will be restored by nominal revaluation of renmibi. Its conclusion is that there is not certain relationship between China＇s exchange rate policy and US trade deficit. And a renminbi revaluation will not help reduce the US-China trade deficit.