The Pressure On China'S Exports Caused By The Depreciation Of The Yen

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< p > the competitive devaluation of currencies in developed countries is obvious to the emerging market countries which are mainly driven by exports.

Some developing countries worry that the "beggar thy neighbour" trade war will repeat itself in the 30s of last century, and many economists worry that emerging countries, including China, will suffer from the impact of liquidity.

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In an interview with reporters yesterday, P stressed that the "a href=" http://sjfzxm.com/news/index_cj.as "yen depreciation" /a "has brought great pressure on China's exports.

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"P", "the weakness of the yen has made the Korean won a strong strength. In Korea, Japan's products are fiercely competitive, and South Korea will also want to maintain its currency weakness.

Therefore, China's low-end manufacturing and labor-intensive industries want to upgrade to the so-called high-end manufacturing industry, will continue to be blocked by Japan and South Korea, and the difficulty of China's future industrial upgrading will increase sharply, thus increasing the risk of falling into the "middle income trap" and increasing the risk.

Lu political commissar yesterday analyzed.

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< p > "no matter in the short term, in the medium term or in the long run, it is a disaster for China to maintain a weak yen.

China's exports to Japan mainly come from the Japanese a href= "http://sjfzxm.com/news/index_c.asp" > trade < /a >, but after the Sino Japanese dispute, Japanese enterprises began to pfer to Southeast Asia, and China's exports could not benefit from it.

Lu political commissar told reporters yesterday.

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< p > "the spillover effect caused by the depreciation of the Japanese yen is manifested in the following three aspects: first, it will cause appreciation pressure to other countries, even trigger exchange rate wars and trade frictions escalation; two, intensify the scale and volatility of short-term global capital flows; three, lead to high volatility of global energy and commodity prices, thus bringing import inflationary pressure to countries including China."

Zhang Ming, deputy director of the International Investment Office of the Chinese Academy of Social Sciences, reminded him yesterday when he was interviewed by Xinhua news agency.

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"P >," Lu commissar also said, "Japan's quantitative easing will exacerbate capital inflow into China, and will show an increase in inflow, a further outflow and a further acceleration of inflow.

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< p > "the weakness of the Japanese yen" means that the US dollar, the euro and the a href= "http://sjfzxm.com/news/index_p.asp" won't maintain its strength. Under the background of the recovery of China's economy, China is attractive to the national capital; but the weakness of the Japanese yen brings China's exports and the more long-term problems. When RMB is not willing to appreciate, international capital will flow out when there is nothing to do.

For other emerging economies, we can seize more opportunities for devaluation to develop exports, which will lead to the re inflow of international capital.

Lu political commissar said yesterday.

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