汇率波动牵扯产业发展:由制造业和服务业生发

Exchange Rate Fluctuation Concerned with Industrial Development: Originated from Manufacturing Industry and Service Industry

国外经典研究和我国调查数据发现,汇率波动对中、美制造业和服务业的影响是多方面的,但各行业存在差异。由于人民币汇率对不同企业影响差异较大,因此目前客观存在实施产业转移(汇率影响大的企业)和产业调整(汇率影响小的企业)的时机。虽然人民币汇率升值对企业影响较大,但钉住美元的成本更大,升值对我国贸易的整体收益大于成本。

Studies from abroad and survey from china find that influence from the exchange rate is enormous, which is different between industries. It is time to transfer industries which are heavily influenced by the exchange rate from east to west and adjust industries which are influenced by the exchange rate to some degree.Despite appreciating the RMB harm the industry, pegging the dollar has more cost. All in all, the benefit from RMB＇s appreciation exceeds the cost from RMB＇s depreciation.