RMB Exchange Rate Reform &Nbsp, Seriously Weaken The Overseas Competitiveness Of The Footwear Manufacturing Industry.

In July 21, 2011, on the 6th anniversary anniversary of China's exchange rate reform, the International Monetary Fund announced that the yuan was undervalued by 3-23%. Our government quickly responded to this argument. This shows that our country is in existence. exchange rate On the issue, the sense of autonomy is becoming stronger and stronger, which is conducive to the stability of the current domestic economy and the world economy, especially for China's macroeconomic regulation and control. This argument of the IMF will further hurt our interests and competitive advantages, and its accusation against the yuan is extremely unfair. Looking back to the 6 years of the reform process, we need to think about what the reform is for. What has changed so far?

Studying this issue requires a pragmatic and realistic attitude, so that we can clearly demonstrate our reform ideas. We can not simply say that we have made significant progress in unilateral tools or short-term measures, which will delay our reform process and deprive us of valuable opportunities.

Foreign exchange reform has changed a price. RMB The exchange rate against the US dollar has risen by 2% at a time, from 8.2765 yuan to 8.1100 yuan. At the same time, it has changed the framework of the exchange rate system and is about to shift to a single basket of currencies. 6 years later, we only see that RMB has been rising and has never depreciated. During the 6 years, the RMB appreciated by 20.35% against the US dollar, from 8.1100 yuan to 6.4592 yuan. During the period only in 2009, the exchange rate remained at 6.82-6.83 yuan. Looking back, the price trend of the RMB exchange rate is entirely external driven, rather than driven by internal demand. We do not know the direction of exchange rate price and the basic demand for exchange rate. At this time, the expectation of RMB appreciation is further enhanced, which is a blow and weaken to our country's economy and finance, rather than promotion or promotion. The most favorable example is that the title of "world factory" is gradually shifting from China to Mexico, India and Vietnam. Exit The status of great powers was gradually replaced by Vietnam and India. In the past, people in the US market can see the vast majority of Chinese made primary products, including lighters, fridge stickers, toys, textiles, shoes, craft decorations, etc. now, the American market is more occupied by Indonesian manufacturing and Vietnamese manufacturing. As we all know, Nike shoes are mostly made in China. Now, the company has transferred the product line from China to Vietnam. It can be said that unilateral appreciation of the renminbi has seriously affected and weakened the competitiveness of Chinese manufacturing enterprises overseas.

However, for domestic export enterprises, the time difference between order and settlement determines the direct relationship between exchange rate appreciation and enterprise income. The continuous and rapid appreciation of RMB for several months has increased the risk of foreign exchange settlement.