人民升值对我国外贸影响的外文翻译
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1、The impact of RMB appreciation As the comprehensive strength of the national economy grows, the Chinese currency, the Renminbi (RMB) began to appreciate. Effects of the RMBs appreciation since July have been felt both domestically and abroad, and will become even more significant with time. China sh
2、ould embrace the new opportunities that appreciation has opened-up and allow more room for the national economy to grow in the process of globalization. People need to be aware that the appreciation of the RMB may have some less desirable effects on economic growth in the short term. Currently, Chin
3、as export market still relies heavily on cheap labor to compete in the international market. As its added value is low, the appreciation of the RMB will affect Chinas export and consequently the overall growth rate of the national economy. However, there are also many positive aspects to the appreci
4、ation of the RMB. In the long run, RMB appreciation will generate more development opportunities. People will feel richer, it will improve Chinas status and influence in the world economy and it will change the commodity structure and the flow of investment. It will also have a significant influence
5、 on the structure of domestic production resources. First of all, it will accelerate industrial upgrading. In a market economy, the fluctuation of the foreign exchange rate involves the international balance of incomes and expenses and is an important price indicator. The appreciation of the RMB mea
6、ns that the price of various domestic resources, especially land and labor, will go up in relative terms and this will speed up necessary adjustments to the commodity mix and domestic industry. RMB appreciation will gradually change the value of the international and domestic markets. Domestic enter
7、prises will rely more on sales to the domestic market so that national economic growth is less dependent on export demand and a more reasonable industrial structure will form. Secondly, it will promote technical innovation. In many countries, technical innovation relies primarily on a market mechani
8、sm which makes good use of price as a lever. Chinas production process is enormously costly in terms of resources and energy, and labor is too cheap. The appreciation of the RMB will cause an increase in the domestic prices of such things as land and labor as well stimulate the demand for innovation
9、. Products for export must rely on technological innovation to be more competitive internationally. In the domestic market, enterprises are also forced to compete through technological innovation. Simply speaking, the appreciation of the RMB will cause the formation of a market environment that is c
10、onducive to speeding up technological innovation. Thirdly, the appreciation of the RMB will benefit the people. On the one hand, it will make imported products relatively cheaper. It will also be cheaper for Chinese to travel abroad. This will increase consumption. On the other hand, it will push up
11、 the market price of domestic financial assets, changing the financial market structure. If other conditions dont change, Chinese people will feel richer as the value of their money grows and further stimulates domestic demand. Of greater strategic significance is the fact that the appreciation of t
12、he RMB will make the price Chinese labor price higher. RMB appreciation reflects the success of Chinese economic development after reform and opening up. It is also an important turning point in Chinas social and economic situation. The downsides to RMB appreciation shouldnt be overemphasized. The f
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