Quick revaluation of the yuan adversely affect the economy of China
Apr 28th, 2010 | By admin | Category: Main NewsQuick revaluation of the yuan adversely affect the economy of China in the context of a continuing struggle with the financial crisis. According to ITAR-TASS that writes today China Daily, citing the view of some Chinese analysts.
controversy in Chinese media about the value of national currency unfolded after the statement was sounded a few days ago Obama that Washington will continue to raise with the theme of Beijing"s exchange rate of yuan, and will be more rigid on the issue of bilateral trade imbalance. In this regard, Foreign Ministry spo1000kesman Ma Chzhaosyuy on Thursday urged the U.S. to a more objective approach to the problems of the Sino-American trade, and stated that "the RMB exchange rate is not the main reason for the negative balance of U.S. trade with China."
According to the expert from the Research Institute under the Ministry of Trade Li Jian, China will not go on about the U.S. and will not accelerate the revaluation of the yuan. "Even if the value of the yuan will rise, it is an internal affair of China" - cites the publication of his words. According to him, in the current year exchange rate of RMB will remain stable and significant differences are not expected.
the pages of today"s central press, many experts agree that rapid revaluation of the currency will negatively affect the economic situation in the country, given that the government is expected to ready to give up was held in last year"s anti-crisis stimulatory policies that enabled the in 2009 GDP growth at 8.7 percent.
PRC Government has stated previously that he would continue to maintain stability of yuan at a rational and balanced manner and that no country has right to tell China what to do in this matter.
American experts believe the yuan is artificially undervalued, giving Chinese goods advantages to the U.S. market and leads to an imbalance in bilateral trade.
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