DepreciationofthedollarimpactonChinax27seconomy-毕业论文翻译

1、Depreciati on of the dollar impact on ChinaeconomyAbstract: In rece nt years, due to the impact of the financial crisis, the U.S. dollar was anotherround ofdevaluati on, the Un ited States has a special status in the world econo my, the impact of the depreciati on of the dollar on the world economy

2、is huge. This paper an alyzes the reasons for the devaluation of the dollar and the impact on China s economy.Keywords: dollar devaluati on, econo mic.Relative to the currenciesof the world s majorecono mies, the U.S. dollar has occurred continu ously and more substa ntialdevaluatio n,and along with

3、 the U.S.Federal Reserve Board to launch a new round of easing mon etary policy and the future enhan ceme nt of the rate hike is expected, the downwardtrend of the dollar willalso con ti nu ati on as the core of the intern ati onal trade of goods and services denomin ated curre ncy, the U.S. dollar

4、s weakening trend caused widespread concern in Europea n and Asia n coun tries.First, the reasons for the devaluation of the U.S.dollar.U.S. weak dollar policy.Dollar and tax cuts, i nterest rate cuts, the econo mic policies of the Bush administration s “ three comb in ati on pun ches.After Bush s r

5、e-election, is expected to continue to pursue a weak dollar policy, i n order to defuse the budget deficit and the curre nt acco unt deficit of the Un ited States, to promote the developme nt of U.S. manu facturi ng. U.S. gover nment,“ that it will not allow the dollar to excessivedepreciati on, but

6、 the depreciati on of the dollar held Some acquiesce, can not fun dame ntally cha nge the reality of the dollar lower.Decli ne in in vestor con fide nee in dollar assets.Curre ntly, U.S. gover nment bon ds, stocks and other assets attractive to foreig nin vestorsare graduallyweakened,which also make

7、s dollar depreciation trend.James Rogers, founder of the Quantum Fund, and U.S. in vestme nt guru Warre n Buffett, are recomme nded for all in vestme ntshould avoiddollar-de nomin atedassets.although Bush s reelection may against the U.S. dollar in the period of time, but also may in crease the conc

8、erns offoreign investors on U.S. foreign and fiscal policy, whichimpact the overall recovery of the U.S. dollar.Domestic economy remai ns in the doldrums.From Bush to Obama as Preside nt of the Un itedStates since the U.S. continu ous laun ched several militaryoperati onsin Iraq, Afgha ni sta n,Liby

9、a, these militaryoperationsconsumea large number of U.S. militaryfunding, coupled with the cold case of the Un ited States in recent years, foreign trade , leading to a continued dow ntur n in the U.S. economy.Dollar favorable impact on Chi na.1. Conducive to improving China s terms of trade.China s

10、 foreigntrade,“ theimpoverishme ntofgrowth ”isnotoptimisticthattheproblemofdeteriorat ingtermsoftrade.For alongtime, Chi nasexports have bee n walk ing the path of vicious competitio nof low prices, the prices of export products is very low,deteriorati ng terms of trade caused by the depreciatio n o

11、fthe dollar RMB appreciation,lead ingto the in crease inforeig ncurre ncy prices ofexportproducts,viciouscompetiti onbetwee nthesituatio nin theexportenterprises will be eased, tobe thehigh costand lowefficie ncy of en terprisesand products have acrowd in g-outeffect, to some exte nt to improve thec

12、ountry s terms of trade .Links to free papers Downl oad Cen ter 2. Conducive to China s macro-control.Depreciation of the dollar led to the decline in export growth in China, the export in dustry is bad n ews, but not a bad thing in terms of the con cept of econo mic regulati on of Chi na first decl

13、i ne in exter nal dema nd means that consumption and investmentshould play a moreimporta nt role in GDP growth, This means that resources from the tradables sector will be more flow to the non-tradables sector, this misallocati on of resources in the econo mic recovery structure is ben eficial to pr

14、omote the Chin ese economy fromexter nal dema nd to domesticdema nd-drive ncha nges,sec ond, foreig n trade surplusreduce help ease the growth rate of foreignexchangereserves to suppress further in crease in excess liquidity from the source of supply of liquidity, this expansion is ben eficial to co

15、n ti nueto curb domestic asset pricebubble.3. Conducive to expanding consumption,improve the quality of life of the Chin ese n ati on als.The depreciationof the dollar, the appreciationofthe renminbi is in deed to the people in deali ng with other coun tries, more and more affordable. Outbo und tour

16、ism and shopp ing become cheaper most sig ni fica nt cha nge is to directly reduce the cost of overseas travel and shopp ing, especially on the dollar settleme nt curre ncy coun tries and regionsperformaneeis more obvious.Secondly,thedepreciati on of the dollar will lead to imports denominated in U.

17、S. dollars from the United States and other countries and regions, especially the imported car prices droppedsig nifica ntly.gen erallyimported fromabroad the cheaper relative prices of commodities, is also greatly reduce the price of foreig n luxury goods.Third, the depreciationof the dollar s adve

18、rseimpact on China s economy.1. Exacerbate trade frictionbetweenChina andmajor trad ing part ners.Long term to mai ntai n a larger surplus of trade ofthe Uni tedStates,theEuropea nUnion,althoughtheexchangerate isnotChina sexportsare themostimporta ntvariable,butthe RMB realexchangeratesituation lead

19、 to China s exports to some extent, crowd ing out other coun tries in the in ter natio nal market share, which is bound to lead to our country and the mai n trade partner of the countrybetweenthe trade frictionfurther inten sified. Curre ntly, Chi na has become the most involvedin anti-dumping cases

20、 of anti-dumpingcasenumber has accountedfor the total number of globalanti-dumpingcases, 1/4. This is Chinahave to facein creas in gly severe intern ati onal econo mic en viro nment.In crease the risk of foreig n excha nge reserves and foreig n debt.At present,China s foreign exchange reserveshave m

21、ore tha n $ 500 billio n, of which the vast majority is in the form of dollar-denominatedassets exist. Quiterati onal curre ncy structure allows in creas ing the value of China s foreign exchange reserves bearsgreaterexchange rate risk of the dollar fell further, to adversely affect the safety of Ch

22、ina s foreign currencyreserveassets.3 may be deteriorati ng terms of trade incen tives.The terms of trade is the exchangerate of acountry s exports and imports, as export commodityprices relative to cha nges in the prices of imported goods, the nu mber of the export of goods per unit can excha nge f

23、or imported goods, the measure of a country to obta in the size of the trade interestsimportant indicator ofChina s terms of trade, a first and then drop the overall worse ning trend.In creme nts do not in crease the price oreven declinein value of China s exports. Chineseproducts to en ter the inte

24、rn ati onal market,the bli ndexport, competi ng to take the means of price competiti on, the un dervalued yua n has also exacerbated the situati on to some exte nt.4 lead to short-term speculative capital in flows.Undervalued yuan lead to the presenee of the expectedappreciation may prompt a large n

25、umber ofshort-term capital in flows, will bring a lot of un certa inty in China s economicdevelopment:First, the impact ofintern ati onalbala neeof payme nts, and sec on dly,thedifficulty of man ipulat ing mon etary policy to in crease the centralgovernment,a direct result of China s basemoney amoun

26、t of the in crease, Fin ally, a large nu mber of speculative capital may in vest in the real estate in dustry to be RMB appreciation led to the economic“ bubble ” .IV Con clusi on.The depreciation of the dollar is a double-edged sword, the devaluation of the U.S. dollarmeans that thedevaluation of the RMB aga