Why Does The Us Again Pressure RMB Appreciation?

< p > in recent months, < a href= "//www.sjfzxm.com/news/index_s.asp" > RMB > /a > continued to weaken. The US call for appreciation of the renminbi has come back.

The US Treasury Secretary, Jacob Lu Lin, who is about to visit China, has revealed that urging the appreciation of the renminbi will be an important issue.

Some American scholars believe that the current valuation of the RMB exchange rate is entirely reasonable. The pressure behind the appreciation of the renminbi is due to considerations of the domestic political and economic factors in the United States.

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< p > in the first five months of this year, the RMB depreciated against the US dollar by about 2.9%.

In early April, US Treasury officials expressed serious concern about the depreciation of the renminbi.

Last Friday, US Treasury officials made a briefing before the finance minister's visit to China, saying that China has indeed made progress in the process of exchange rate marketization, but the RMB exchange rate is still substantially underestimated and China needs to continue to make adjustments.

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Stephen Hroch, senior researcher at the global affairs Institute of Yale University, said P's "Fascination" on the RMB exchange rate is a classic case of "political negation" strategy.

At present, the pressure of employment and income increase is high.

Since China is the main source of the US trade deficit, it is a "political convenience" to attribute the difficulties of the middle class to the depreciation of the renminbi.

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Roach P disagrees with this "political convenience".

He explained that the US trade deficit came from 102 countries, not one of China.

Since China launched the reform in 2005, the RMB has appreciated 37% against the US dollar, and the balance of payments has been greatly improved.

Especially from 2007 to 2013, the proportion of China's trade deficit in gross domestic product (GDP) decreased from 10.1% to 2.1%.

The International Monetary Fund predicts that this proportion will drop to 2% this year.

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Pedersen and Martin Kessler, senior fellow of the P International Economic Research Institute, have shown that the RMB exchange rate is approaching equilibrium at present.

Based on the standard of purchasing power parity in 2011, < a href= "//www.sjfzxm.com/news/index_cj.asp" > RMB exchange rate < /a > is underestimated by only 1.7%.

Over the next three years, the renminbi continued to appreciate, and the valuation level in 2014 was reasonable.

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< p > Roach believes that the US pointing fingers at the RMB exchange rate is absurd.

Recently, China's liberalization of the RMB exchange rate single day range is an important measure to loosen the exchange rate control.

The recent depreciation of less than 3% is a sign to speculators, and it is dangerous to bet on the renminbi rising or not.

The United States should admire the Chinese government's actions rather than "political negation".

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Gary Hofbauer, a senior researcher at the Pedersen Institute for international economics of the US think tank, which has long studied trade issues, told reporters that Jacob Jacob's visit to China had two kinds of audience: one is Chinese officials and the other is the US Congress.

He needs to show the Congress that the cabinet is very concerned about the exchange rate and is trying to get Congress to give up efforts to join the negotiations on the p Pacific Strategic Economic Partnership Agreement (TPP).

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In order to balance the automobile trade with Japan, a considerable number of congressmen suggested that the United States join the TPP negotiations without allowing manipulation of the exchange rate. P

But because this will increase the difficulty of negotiation, the US trade representative Michael Frohman, who is in charge of the TPP negotiations, recently made a clear testimony in Congress that he did not intend to include the issue of exchange rate in the negotiations.

This year's mid American election year, Congress and the White House on this issue will continue to wrestle.

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< p > Roach believes that the United States should focus its attention on the "a href=" //www.sjfzxm.com "/a" and more pragmatic cooperation with China so as to achieve common development.

China is carrying out more domestic demand pformation. The United States should seize the huge business opportunities that it contains, so that more American companies can enter China's commodity and service market.

Criticizing the RMB exchange rate will make the United States miss the opportunities brought about by China's economic pformation and reform.

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