人民币汇率对我国外贸的影响外文文献.docx

人民币汇率对我国外贸的影响外文文献.docx

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人民币汇率对我国外贸的影响外文文献

外文资料译文

论文题目人民币汇率升值对我国外贸

的影响分析

专业国际经济与贸易

班级

姓名

学号

指导教师职称

2012年1月3日

TheimpactofRMBexchangerateappreciationtooureconomyandtheforeigntrade

ThispaperanalyzesthecausesofRMBexchangerateappreciation,expoundsthebeneficialeffects,adverseeffectsonourcoun-try'seconomicandforeigntrade,andputsfor-wardthecountermeasurestotheeffects.

PresentsituationofChineseforeigntradesurpluscontinuestoexpand,whichiscausedbyavarietyofreasons.TheappreciationofRMBexchangerateonChina'seconomy,foreigntradeimportandexportvolumeandstructurehaveaseriesofeffects,onlytotakepositiveandeffectivemeasurestomaketheeconomyofourcountryandexportenterprisestoobtainthesustainableandstabledevelopment.

1.reasonsfortheappreciationoftheRMBexchangerate

1.1Chineseandforeigninterestratedifference

Interestratepolicyisanimportanttoolofmonetarypolicy.Therateofrelativeheightwillaffectthecapitalflowdirectionisoneoftheimportantways,highinterestrateswillstimulatetheinternationalcapitalinflow,andreduceitsoutflowoffunds.Thusaffectingthescaleofinternationaltrade,makethedifferenceofinterestrateonexchangerateinfluencethetrendofcontinuousimprovement.

1.2Moneysupplysituation

RMBexchangerateandChina'smoneysupplysubstantiallypositivecorrelation,duetothedeepeningofreformandopeningup,foreigninvestorscannotonlymakeuseofcheapChineselabour,moreoptimisticaboutChina'shugedomesticmarket.Therefore,foreigninvestmentincreasedsubstantially.Duetotighteningofmonetarypolicy,theRMBfundisquitenervous,theentryofforeigncapitalandforeignexchange,soappearedapparentoversupply,resultinginthetrendofRenminbirmb.

1.3Internationalbalanceofpaymentsandforeignexchangereserve

Theformationofforeignexchangemarketandtheinternationaltradeandinvestmentisnotdivided,internationalbalanceofpaymentisacountry'sforeigneconomicactivitiesofthevariouspaymentsum.Underfloatingexchangerates,themarketsupplyanddemandtodeterminetheexchangeratechanges,thereforeinternationalpaymentsdeficitwillleadtothedevaluationofthecurrency,theforeigncurrencyappreciation,namelytheexchangeraterise.Conversely,internationalpaymentssurpluscausedadeclineinforeignexchangerates.

1.4Economicgrowth

Acountry'seconomictake-offstage,duetothelowlevelofproductivity,economicdevelopmentperformancefortheextensivemodeofoperation,andthustheirowncurrencyexchangeratedecreased,i.e..Acountry'seconomyisrelativelymaturestage,consumerdemandasincomeandgrowth,butthegrowththatconsumesdemandtocatchtheoutputsupplygrowth,sointheperiodofrapideconomicgrowth,supplyrelativeconsumptiondemand,soastohaveadownwardpressureonprices.

2.TheexchangerateofRMBappreciationonChina'seconomyandforeigntradefavourableeffects

2.1BehelpfulforChineseenterprisesto"goout"

TheappreciationoftherenminbimeansthatChineseenterprisestoinvestabroadcostrelativelydropsthanbefore,whichmakesthemtolowerthecostoftheestablishmentofmultinationalcompanies.SoitisbeneficialtotheChineseenterprisesto"goout",tocreateatrulyinternationalcompetitivenessofChinesetransnationalcorporation.

2.2Willhelpimprovetradeconditions

Theappreciationoftherenminbi,exportpriceshigher,youcanuselessexportproductsinreturnfortheirownneedsavarietyofproducts.Exportprofitincreasesceaselessly,canimproveourtermsoftrade.

2.3Conducivetoreduceexternaldebtdebtservicepressure

Theriseintherenminbiexchangerate,outstandingdebtservicingrequiredtheamountoflocalcurrencyiscorrespondinglyreduced,toacertainextentsoastoreducetheburdenofexternaldebt.

2.4Conducivetopromotingthetransformationofforeigntradegrowthmode

TheappreciationoftherenminbihascontributedtoChina'sforeigntradegrowthmodefromextensiveoriginalshiftqualityandcost-effectiveintensive,thiswillbringtheimprovementofexportstructure,encouragetechnologicalinnovation,sustainabledevelopment.

2.5Conducivetolowerimportcosts

Afterrevaluation,thepriceofimportedgoodswillhavethesamemagnitudeofdecline,reducingourcostofimportsandimportfeespaid.Theappreciationoftherenminbiwillmakelargetransactioncostsofimports,soastoimprovetheprofitsituationofrelatedindustries,toeconomyconstructionisveryfavorable.

2.6Behelpfulforimprovingtheenvironmentofattractingforeigninvestment

TheappreciationoftheRMBexchangerate,canmakehaveforeign-fundedenterprisesinChinaincreasedprofits,soastoenhancetheconfidenceofinvestors,tofurtherincreaseinvestmentorinvestment;theappreciationoftheRMBexchangeratewillattractalotofforeigncapitalintoChina'scapitalmarket,indirectinvestmentproportionwillbeincreasedfurther.

3.TheexchangerateofRMBappreciationonChina'seconomyandforeigntradeadverseeffects

3.1TheinfluenceofChineseenterpriseandmanyintegratedcompetitionabilityoftheindustry

Theappreciationoftherenminbiwillleadtocertaintechnicalcontentandaddedvalueislow,poormanagement,highcostandlowefficiencyofexportenterprisesloseinthepriceintheinternationalmarketcompetitiveadvantage,eventuallyhadtobeeliminated.

3.2Increasingemploymentpressure

RMBappreciationwillrestrainorhitexports,willultimatelyaffecttheemployment.InthecurrentChina'semploymentsituationisextremelygrimsituation,theappreciationoftheRMBexchangeratewillbeworseemploymentsituation.

3.3Theagricultureofourcountrywillfacegreaterchallenges

TheappreciationoftherenminbiwillblocktradeofChina'sagriculturalproductsexportgrowth,importwillincreaseapparently,productionofourcountryagriculturewillcauseimpact,influencefarmertoaddclose.Importandexporttradeofagriculturalproductscouldbereversed,withsurplustodeficit.

3.4Theimpactofthefinancialmarketstability

Chinafinancialmarketdevelopmentlagsbehindrelatively,theappreciationoftherenminbiwillbealargenumberofshort-termcapitalflowsintothecapitalmarketthroughvariouschannels,theprofit-seekingbehavior,easilyleadtomonetaryandfinancialcrisis,theChineseeconomywillbesustainedandhealthydevelopmentcausesadverseeffect.

3.5WeakenChina'sexportgrowth

Theappreciationoftherenminbi,China'smanufacturingindustryintheglobalcompetitionwillgraduallydisappear,easymanufacturingoverseas.Thevalueoftherenminbi,exportenterprisestomaintainacertainprofit,theexportunitofforeigncurrencypriceswillincrease,notconducivetoexportscontinuedtoexpandandintheinternationalmarketshareincrease.

3.6Exportgrowthisrestrictedtotheexportenterprises,bringaloss

Theappreciationoftherenminbi,ifChina'sexportcommoditiesdenominatedinforeigncurrencypricesunchanged,requirestheexportcommoditiesdenominatedinRenminbipricedecline,inthisway,China'sexportswillnotbeaffected,butourcountryenterprise'sprofitfellby.

3.7NotconducivetoattractingforeigninvestmentinChina

Theappreciationoftherenminbitoprocessingtradeofforeignenterprisesexportcostincrease,sothattheprocessingtradeoftheforeigninvestmentdecline.Thiswillaffectforeigninvestmententerprises,

Profittoinvestmentscaleandindustrylocalizationprocess,isnotconducivetoChina'sprocessingtradeindustrysustainabledevelopment,upgrade.

4.InviewoftheappreciationoftheRMBexchangerateonChina'seconomyandforeigntrade'sinfluence,proposedcountermeasures

4.1Developaninternationalmarketenergetically?

Inordertofutureexporttrade,long-termdevelopment?

InadditiontocontinuetoconsolidateandfurtherdevelopthetraditionalAmerican,Japanese,Europeanmarket?

enterprisesshouldalsoactivelylookingforandopenupnewtargetmarkets,suchasAfrica,ASEANandotherpotentialhugemarket,promotethediversificationofthemarket,enterprisestoexpandexports,totheexportenterprisestobringnewprofitsource.

4.2ToalleviatethepressureofRMBappreciation

WecanadjusttheforeigntradestructuretoreducetherelianceontheAmericanmarket.Inviewofcapitalinflowpressures,continuetoencouragetheinflowofforeigncapitalinthe.Accordingtotherapidgrowthofforeignexchangereserveshasbroughtthepressure,wecantakemeasurestoappropriatecontrolofitsgrowthrate,asthegradualadjustmentoftheRMBexchangeratelevelandlaythefoundationfor.

4.3Improveproductquality,createtheirownbrand

Inordertoimprovetheexportproductsintheinternationalmarketcompetition,China'sexportenterprisestodealwiththeRMBappreciationisanotherkeymeasurestorealizetheupgradingofproducts,tobuildtheirownbrands,fromtothepriceadvantagecompetitiontoqualityandbrandandpriceadvantagetoparticipateininternationalcompetition.

4.4Changethemodeofgrowthofexporttrade

Thenewtechnology,newenergy,newmaterialsandotherhigh-techpenetrationintotraditionalindustriestothem,sothatourexportproductsbylaborconcentratedmodel,resourceintensivetohightechnologycontent,thedegreeofprocessingdepth,highvalue-addednewproducts.Andtothedevelopmentofhigh-techindustry.

4.5Timelyadjustmentofexchangerateandexchangeratesystem

WeshouldrealizetheadjustmentoftheRMBexchangeratepolicy,successfully,forthefutureofthestabilityofmacroeconomy,tradeandIndustryDepartment