人民币该贬值了

Time to Depreciate

如果新兴市场国家货币都在贬值，唯独人民币还在升值，受伤的就容易是自己了。

RMB has appreciated since the global financial crisis burst out.However,as the U.S.began to quit the QE policy,the currencies of emerging economies have depreciated.The domestic currencies of Brazil,Russia and India have all declined in value by nearly 10%.This may hurt the Chinese economy.The trade between China and advanced countries are often complementary.RMB's appreciation to euro or USD may have little negative impact on Chinese economy.But there are homogeneous competition between China and the other emerging economies.The costs of Chinese exports are rising as RMB keeps appreciating.This means that Chinese goods lose competence in overseas market.Currently,RMB is close to equilibrium level.The impact will be greater if it keeps rising in value.Besides,China's reserve requirement ratio is hovering at 20%.The country can cope with the impact of capital outflow by lowering the ratio.It's time for this great economy to decrease the value of RMB.