www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

   

Expert: China should limit pace of yuan rise

(Reuters)
Updated: 2007-06-11 14:50

China should contain the pace of yuan appreciation within a bearable range because a big rise would aggravate the country's overcapacity problem, a prominent economist said in comments published on Monday.

The yuan has now gained a further 5.7 percent since it was revalued by 2.1 percent and freed from a dollar peg to float within managed bands in July 2005.

Special coverage:
Chinese Economy

Related readings:
 Stop pressuring China to revalue yuan - AmCham
Yuan hits new high against US dollar
Sharp rise of yuan may cost millions of jobs

Last month, authorities widened the yuan's daily trading band against the dollar to up or down 0.5 percent from its morning mid-point, compared with 0.3 percent before.

But a big rise in the currency would reduce the country's exports and subsequently worsen overcapacity in exporting sectors, Justin Lin, a professor with Peking University, wrote in People's Daily.

Moreover, an increase in imports resulting from a stronger yuan would displace some domestic products, exacerbating the problem of excess production in those sectors, Lin said.

That would push some domestic manufacturers into bankruptcy and risk fanning economic and financial crisis, he added.

"In developing countries with rapid growth, the government should send clear-cut signals to the market to create stable expectations about currency appreciation and keep the scale of strengthening within a bearable range," Lin said.

Lin did not spell out how much of an annual rise would be appropriate, but he has said in the past that a pace of 3 to 5 percent a year was suitable.

His comments came even as the yuan fell sharply against the dollar on Monday, extending last week's slide and erasing gains from a rally that preceded Sino-U.S. trade talks in May, as the central bank applies the brakes to the currency's ascent.

Lin also said the government should step up its macroeconomic controls by employing a mix of tools, including industrial and fiscal measures, to steer the economy into safe waters.

Monetary policy alone is not enough because the central bank is now facing a dilemma in moving in interest rates, Lin said.

Increasing lending and deposit rates by the same margin would dampen consumption, while raising the lending rate by more than the deposit rate would give banks greater incentive to lend, he wrote.

China has raised benchmark interest rates four times since April 2006 and increased the proportion of deposits banks have to hold in reserve on eight occasions in the past year.


(For more biz stories, please visit Industry Updates)



主站蜘蛛池模板: 欧美在线视频观看 | 久草免费福利视频 | 美国免费三片在线观看 | 狠狠色狠狠色综合久久第一次 | 日韩中文字幕免费观看 | 久久久精品在线观看 | 午夜宅男宅女看在线观看 | 国产精品国产三级国产an不卡 | 越南高清幻女bbwxxxx | 玖玖精品在线视频 | 日韩精品免费看 | 中国美女一级黄色片 | 男女扒开双腿猛进入爽爽视频 | 中文字幕乱码中文乱码51精品 | 2022免费国产精品福利在线 | 亚洲精品久久久久久久久久久网站 | 嫩草影院在线观看网站成人 | 怡红院老首页主页入口 | 中文字幕亚洲一区二区v@在线 | 爽爽窝窝午夜精品一区二区 | 91久久香蕉青青草原娱乐 | 欧美一级成人 | 韩国美女爽快一毛片免费 | 碰碰久久 | 综合网自拍| 久久影院一区二区三区 | 国产成人最新毛片基地 | 麻豆19禁国产青草精品 | 亚洲午夜网 | 国产女人在线视频 | 亚洲国产成人在线观看 | 一级毛片不卡免费看老司机 | 亚洲一区日韩一区欧美一区a | 国产成人亚洲精品久久 | 国产高清厕所盗摄视频 | 亚洲国产一成人久久精品 | 网站午夜 | 日本精品夜色视频一区二区 | 日本大臿亚洲香蕉大片 | 丝袜足液精子免费视频 | 国产午夜a理论毛片在线影院 |