Ⅰ. Exchange Rates Excharge rates are the rates at which currency conversion takes place. They themselves tell us nothing about the relative strength of the currencies involved or economics behind them, It simply refl...Ⅰ. Exchange Rates Excharge rates are the rates at which currency conversion takes place. They themselves tell us nothing about the relative strength of the currencies involved or economics behind them, It simply reflects the difference between the denominations into which the two countries have chosen to divide their respective currencies. A currency is considered externally weak if the government is having difficulty maintaining the predetermined exchange rates under展开更多
Like most developing countries, China has been adopting a multiple exchange rate regime in its attempt to maintain control and order while liberalizing transactions in the sphere of trade, non-trade and crossborder fu...Like most developing countries, China has been adopting a multiple exchange rate regime in its attempt to maintain control and order while liberalizing transactions in the sphere of trade, non-trade and crossborder fund flows. From a very rigid, highly centralized regime in 1979, China has by now advanced to a relatively flexible system under which the official rate, the swap rate, and the ＂free＂ market rate coexist. The tight control of international transfer of funds has also been progressively relaxed, as different parties gain increasing freedom to acquire foreign exchange. The Chinese economy has been reasonably stable during the Asian financial crisis. Although China maintains the exchange rate stability, in near future a real appreciation of the RMB must be necessary element in global adjustment. More flexible exchange rate will give more advantages for Chinese economy.展开更多
文摘Ⅰ. Exchange Rates Excharge rates are the rates at which currency conversion takes place. They themselves tell us nothing about the relative strength of the currencies involved or economics behind them, It simply reflects the difference between the denominations into which the two countries have chosen to divide their respective currencies. A currency is considered externally weak if the government is having difficulty maintaining the predetermined exchange rates under
文摘Like most developing countries, China has been adopting a multiple exchange rate regime in its attempt to maintain control and order while liberalizing transactions in the sphere of trade, non-trade and crossborder fund flows. From a very rigid, highly centralized regime in 1979, China has by now advanced to a relatively flexible system under which the official rate, the swap rate, and the ＂free＂ market rate coexist. The tight control of international transfer of funds has also been progressively relaxed, as different parties gain increasing freedom to acquire foreign exchange. The Chinese economy has been reasonably stable during the Asian financial crisis. Although China maintains the exchange rate stability, in near future a real appreciation of the RMB must be necessary element in global adjustment. More flexible exchange rate will give more advantages for Chinese economy.
