Ｅｖａｌｕａｔｉｎｇ?。茫瑁椋睿帷蟆。牛悖瑁幔睿纾濉。遥幔簦濉。遥澹纾椋恚?/h1>
2008-08-26 11:06:52ＣｈａｒｌｉｅＸｉａｏＦｅｎｇ
China’s foreign Trade 2008年7期
Ｃｈａｒｌｉｅ?。兀椋幔铩。疲澹睿?/p>
The U.S. in the last couple of yearshas been up in arms about China's ex-change rate regime. Congress has activelycalled for the Treasury to name China as acurrency manipulator, which would grantit the legal standing to impose countervail-ing duties. In fact there is already legisla-tion that has been proposed by Senators Schumer and Graham for a 27.5% tariff onChinese goods, unless that is China allowsits currency to appreciate. However beforeanalyzing the validity of U.S. concernsabout the exchange rate regime, a clearunder standing of the benefits that the fixed RMB has provided is crucial. Here I thinkthere are two important pieces worth men-tioning: first are the low prices offered to American consumers in terms of Chinesemanu factured goods, and second is theastoundingly cheap credit and capital thatthe PBC is providing for U.S. economy aswhole.
Ｃｈａｒｌｉｅ?。兀椋幔铩。疲澹睿?/p>
The U.S. in the last couple of yearshas been up in arms about China's ex-change rate regime. Congress has activelycalled for the Treasury to name China as acurrency manipulator, which would grantit the legal standing to impose countervail-ing duties. In fact there is already legisla-tion that has been proposed by Senators Schumer and Graham for a 27.5% tariff onChinese goods, unless that is China allowsits currency to appreciate. However beforeanalyzing the validity of U.S. concernsabout the exchange rate regime, a clearunder standing of the benefits that the fixed RMB has provided is crucial. Here I thinkthere are two important pieces worth men-tioning: first are the low prices offered to American consumers in terms of Chinesemanu factured goods, and second is theastoundingly cheap credit and capital thatthe PBC is providing for U.S. economy aswhole.
