等待美国QE退出

Waiting for the Exit of America from QE

在美国大幅度退出QE、美元大幅度升值之前这个阶段,是有利于人民币的稳定和国际化的,但在美国完全退出QE、利率提高、美元开始升值后这个阶段,人民币会相对美元贬值,很多国家就会重新储备美元,这就不利于人民币的国际化。

In the stage before America substantially exits QE and the dollar appreciates significantly, it is advantageous to the stability and internationality of the RMB. However, in the stage after America completely exits QE and interest rate increases and the dollar begins to appreciate, the RMB will depreciate against the dollar and many countries will reserve the dollar, which is not beneficial to the internationality of the RMB.