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: 潞城市| 长治市| 沙坪坝区| 大丰市| 溧水县| 天全县| 青海省| 九龙城区| 池州市| 盘山县| 新竹市| 和平县| 佛坪县| 普宁市| 哈巴河县| 宜兰县| 伊金霍洛旗| 宁陵县| 华亭县| 鄯善县| 临城县| 寿光市| 庆城县| 丰顺县| 交城县| 巨鹿县| 渝北区| 吴江市| 泸溪县| 逊克县| 武鸣县| 浪卡子县| 淮南市| 连南| 邢台市| 朝阳区| 容城县| 汝阳县| 安平县| 平和县| 科技| 偏关县| 城口县| 小金县| 宕昌县| 玉环县| 滨州市| 开平市| 南部县| 安吉县| 西贡区| 香格里拉县| 隆子县| 佳木斯市| 南投县| 东阳市| 虞城县| 靖边县| 江阴市| 明溪县| 常德市| 苗栗市| 哈巴河县| 手机| 鄂托克旗| 黄大仙区| 浙江省| 玉树县| 蒙阴县| 于田县| 昌吉市| 凭祥市| 怀柔区| 昌宁县| 诸暨市| 六盘水市| 乐东| 长丰县| 安达市| 墨江| 卢龙县| 绥江县|