男女羞羞视频在线观看,国产精品黄色免费,麻豆91在线视频,美女被羞羞免费软件下载,国产的一级片,亚洲熟色妇,天天操夜夜摸,一区二区三区在线电影

Economy

Renminbi not undervalued as real exchange rate increases: UN expert

(Xinhua)
Updated: 2011-01-19 17:31
Large Medium Small

GENEVA - The Chinese currency is not undervalued, if measured with Real Effective Exchange Rate (REER) based on Unit Labor Cost (ULC), a better way to grasp changes in competitiveness than looking at nominal exchange rate and REER based on Consumer Price Index (CPI), the United Nations Conference on Trade and Development (UNCTAD) said on Tuesday.

In a press conference presenting UNCTAD's recent surveys and findings, Heiner Flassbeck, Director of UNCTAD's Division on Globalization and Development Strategies, said according to his calculation based on the ULC oriented approach, the Chinese currency "is not undervalued", but rather, "it has appreciated quite significantly in the last ten years."

UNCTAD's findings showed there can be significant differences in the measurement of the real exchange rate, depending on whether it is calculated on changes in ULC, or the traditional basis of changes in CPI.

"The latter misses out important elements of the catching-up process of developing countries and may result in significant misinterpretation for some important emerging economies like China, " UNCTAD argued in its findings.

According to UNCTAD, China's ULC based REER nearly doubled since 1995, in contrast with the CPI based REER, which increased only around 30 percent, and the gap depicted a widening trend.

UNCTAD considers ULC a more reliable tool in calculating China' s REER, as more than 60 percent of all Chinese exports emanate from affiliates of foreign firms.

Related readings:
Renminbi not undervalued as real exchange rate increases: UN expert China to make RMB convertible on capital account in 5 years
Renminbi not undervalued as real exchange rate increases: UN expert Yuan is overvalued, not undervalued: report

The UN agency also attributed the trade imbalance between China and other nations primarily to FDI and foreign firms dominated export and import behavior, which gives foreign investors absolute competitive advantage and incredible margins by combining their high technology with cheap local labors.

"It is not China to be blame for this kind of development, because China can not force the firms to increase prices. If the wages are rising, China has done, so to say, its bit, to remove the current account imbalance," Heiner Flassbeck said.

"One should not look at the nominal exchange rate, as many people do, just look at the nominal exchange rate and say stable nominal exchange rate is a problem per se, it is not, if the real exchange rate increases," he added.

分享按鈕
主站蜘蛛池模板: 兖州市| 从江县| 辛集市| 周宁县| 中江县| 乐昌市| 寿阳县| 额尔古纳市| 北辰区| 扎赉特旗| 武山县| 凌源市| 河曲县| 射洪县| 遂昌县| 锡林郭勒盟| 北流市| 泽普县| 呈贡县| 罗平县| 郴州市| 太康县| 吉林市| 康马县| 临沭县| 托克逊县| 大荔县| 苏州市| 武宁县| 团风县| 青铜峡市| 阿拉善左旗| 图木舒克市| 庆安县| 兴国县| 锡林郭勒盟| 治多县| 抚顺市| 洱源县| 遂平县| 新闻| 长垣县| 青冈县| 平江县| 轮台县| 盱眙县| 罗田县| 绥阳县| 米泉市| 石台县| 新沂市| 湘潭市| 临邑县| 澄江县| 开远市| 阳山县| 开平市| 忻州市| 睢宁县| 万全县| 龙陵县| 逊克县| 高州市| 新乐市| 万载县| 府谷县| 达日县| 隆德县| 玉田县| 通化市| 扎兰屯市| 凉山| 兰州市| 宜宾市| 九寨沟县| 平阳县| 和田县| 蒙城县| 翁源县| 巴林左旗| 长岭县| 许昌县|