SHOULD THE YUAN STRENGTHEN?
Author: L. I. KONDRASHOVA Keywords: China, global crisis, yuan revaluation The United States has long sought to revalue the yuan, believing that the undervalued exchange rate of the Chinese national currency has turned into a protectionist measure to actually subsidize Chinese exports. The European Union is concerned about the undervalued yuan. Both India and Brazil, China's BRIC partners (Brazil, Russia, India, and China), have recently been calling for an end to the artificial peg of the yuan to the dollar1. However, Beijing has counterarguments against the appreciation of the yuan, which are shared by some Western and international experts. 2During the China-US Economic and Strategic Dialogue held in Beijing in May 2010, US Treasury Secretary Timothy Geithner noted that bringing the renminbi closer to market value is "an important part of broader reform", while emphasizing that the Chinese government should make its own decisions on this issue. As most experts assumed, Beijing actually went for a small increase in the yuan exchange rate. On the eve of the G20 summit in Toronto, the People's (central) Bank of China announced on June 19, 2010, the establishment of a more flexible exchange rate of the yuan against the dollar. The dollar - yuan exchange rate was set at around 6.8 yuan, compared to 6.827 yuan, meaning the Chinese currency appreciated by 0.43%.3 This was Beijing's first monetary policy revision since July 2008, when the PBOC pegged the yuan more tightly to the dollar. The ambiguous nature of the problem of yuan revaluation is discussed in the article by Doctor of Economics L. I. Kondrashova. L. I. KONDRASHOVA Doctor of Economics Setting the exchange rate of a national currency affects the interests of millions and millions of people in different countries. Financiers, on the other hand, strive to preserve the aura of "mystery" and closeness to the uninitiated in this matter. But they themselves, first of all, because of the divergent interests of econ ... Read more
____________________

This publication was posted on Libmonster in another country. The article seemed interesting to our editor.

Full version: https://elibrary.org.cn/m/articles/view/SHOULD-THE-YUAN-STRENGTHEN
Japan Online · 308 days ago 0 205
Professional Authors' Comments:
Order by: 
Per page: 
 
  • There are no comments yet
Library guests comments




Actions
Rate
0 votes
Publisher
Japan Online
Tokyo, Japan
21.08.2023 (308 days ago)
Link
Permanent link to this publication:

https://elib.jp/blogs/entry/SHOULD-THE-YUAN-STRENGTHEN


© elib.jp
 
Library Partners

ELIB.JP - Japanese Digital Library

Create your author's collection of articles, books, author's works, biographies, photographic documents, files. Save forever your author's legacy in digital form. Click here to register as an author.
SHOULD THE YUAN STRENGTHEN?
 

Editorial Contacts
Chat for Authors: JP LIVE: We are in social networks:

About · News · For Advertisers

Digital Library of Japan ® All rights reserved.
2023-2024, ELIB.JP is a part of Libmonster, international library network (open map)
Preserving the Japan heritage


LIBMONSTER NETWORK ONE WORLD - ONE LIBRARY

US-Great Britain Sweden Serbia
Russia Belarus Ukraine Kazakhstan Moldova Tajikistan Estonia Russia-2 Belarus-2

Create and store your author's collection at Libmonster: articles, books, studies. Libmonster will spread your heritage all over the world (through a network of affiliates, partner libraries, search engines, social networks). You will be able to share a link to your profile with colleagues, students, readers and other interested parties, in order to acquaint them with your copyright heritage. Once you register, you have more than 100 tools at your disposal to build your own author collection. It's free: it was, it is, and it always will be.

Download app for Android