RMB Appreciation Is Not Life-Saving Straw &Nbsp; Active Adjustment Is The Key.

Recently, Mr. Shu song, who has just returned from Washington, found that when he held the annual meeting of the International Monetary Fund and the World Bank recently, the central bankers, finance ministers and many economists all over the world were very anxious because they could not find a good solution to the global economic recovery.

Xiang song Zuo, deputy director of the Institute of International Monetary Studies, Renmin University, is more worried about him. He also finds that everyone is beginning to talk about the exchange rate.

In response, Annika Melander, director of the Department of economics and finance of the European Commission's delegation to China, said at the Tsinghua University's "trade disputes and regulatory puzzles" at Tsinghua University No. 16, it is naive and childish to force the appreciation of the renminbi to solve the global economic problems.

This view has been recognized by many economists in China.

In the view of Xiang song Zuo, the global economy as a whole faces the problems of serious disconnection and divergence between the virtual economy and the real economy. The world's manufacturing industry is mainly pferred to developing countries, but the center of money and finance is still developed. The financial market is over opened, and the trade market of human capital such as the US and Europe is not open, so it is absurd to just hope that the RMB appreciation will solve the global economic balance.

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How can China get out of the current exchange rate puzzle? Tang Min, Deputy Secretary General of China Development Research Foundation, said

The renminbi appreciated more than 2.6% in three and a half months.

For this figure, the US Treasury issued a more positive evaluation in a statement issued last Friday, which stated that China has accelerated the pace of RMB appreciation since the beginning of September, and maintained that "maintaining this situation is very important".

At the same time, the statement also pointed out that since September 2nd, the pace of RMB appreciation has accelerated, and the average monthly appreciation has exceeded 1%.

If this rate is maintained, it will help to rectify the situation of a serious undervaluation of the renminbi.

Annika Melander also pointed out that there must be room for further growth of the renminbi in the future.

But she also stressed that the key question is how to control the appreciation rate of RMB.

It is a more consistent answer for economists to not appreciate too quickly.

"Basically, the RMB exchange rate is increased by 3% annually, which is more reasonable."

Wang Jian, Secretary General of China macroeconomics society, said.

At the same time, Zhang Yansheng also stressed that it can not be passive appreciation. He said that the appreciation of the renminbi at this time under strong external pressure is likely to fall into a trap of passive appreciation. At the same time, macroeconomic regulation and control is totally unable to adapt. The goal of structural adjustment can not be realized at all, and the goal of market-oriented reform will be thrown into chaos.

If we choose the time of appreciation and appreciation, it is another result, which will be beneficial to the adjustment of industrial structure, macro regulation and control, and further marketization.

But Annika Melander also points out that China will surely need a stronger currency as its economic status continues to rise.

"So I think RMB appreciation, for example, to a certain extent, is really beneficial to China's economy.

For example, if its appreciation is ever more successful, it will eventually lead to a strong currency.

She said.