Exchange rate that determines flexibility

Now it exceeds its benefits.

Youzhi road

The RMB appreciates because Sautenet has been promoting it.

The Netherlands believes that correcting Djobai Savi-

Netherlands-unbalanced investment, as I said, in

Spring 2007 problem, cooperation. Recently the bank

Enghmd's research paper adds a new perspective.

This view. However, China may have reached a place.

Be brave. It is necessary to change the exercise.

The process of development is moving forward. this is because

Distortion makes from the current policy orientation

Deteriorating, raising welfare costs, causing systemic instability,

Tao. The RMB exchange rate policy is a good example. There are signs that ecology

Economic costs and exchange rate flexibility are important benefits.

The possible risks in China have drawn the wrong lessons from the Asian financial crisis.

The Dutch exchange rate is too long, and it is important to establish diplomacy.

Keep. China is the least affected by the regional crisis because of its strictness.

Capital control. And refused to depreciate, when aggia—— was stopped-

The spread of value-added finance in Asia.

For the same reason, the RMB's slow peg to the US dollar has also accelerated accordingly.

The accumulation of foreign exchange reserves has led to the growth of excess liquidity and comprehensive recruitment examinations-

Ated's economy is seriously distorted, especially in the asset market.

Price inflation has been high. These economic imbalances may lead to

Like loopholes, large capital inflows, credit boom, excessive.

Investment and economic bubbles come from the recent Asian financial crisis. All this,

This is not to say that China should change its regime once, but it has.

It is suggested that Beijing should seriously consider the exit strategy.

The current RMB policy.

China authorities have long believed that a stable currency.

Supreme national interest. The argument has evolved into a containment factor.

Behind the rising exchange rate is a large-scale balance of payments surplus.

Plus in recent years. However, China authorities are worried about Sharp.

Chi Haotian Lao is the director of China Ping An Asset Investment Research Department.

Management (Hong Kong) Limited. According to XXIMMG

China's Economic Growth (palgrave Macmillan, 2007).

The international economy belongs to 2007.