| Author: | Yang, Fan |
| Title: | Problems about the situation of foreign economy in China (original in Chinese) |
| Journal: | Global Market Information Guide (c)
1998 : 7, p.9-10 |
| Index terms: | EXCHANGE RATES MONETARY POLICY CHINA |
| Language: | chn |
| Abstract: | (1)The RMB exchange rate regime needs five major changes, including a transform from the fixed rate to the managed floating rate, a change from exogenous to endogenous, a stable-and-upward prediction of the RMB exchange rate substituting for a stable-and-floating prediction, a change from the single RMB spot rate to the forward rate and a transition to the free convertible RMB. (2)The economy of 1998 will bear the burden. It is expected the export of 1998 may drop, which will aggravate the poor domestic economic climate. However, it is the greatest pressure and motivation for promoting the reform comprehensively. (3)Outsidely, It should firmly stand the attack of speculating capital. Insidely, it should make necessary amendments to regulations and get rid of the hidden danger of crisis. |
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