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美国论文代写:The Chinese currency

2017-05-22 来源: 51due教员组 类别: Paper范文

下面为大家整理一篇优秀的paper代写范文- The Chinese currency,供大家参考学习,这篇论文讨论了中国货币。最近几年中国的经济增长速度非常快,而人民币汇率的下降是其主要原因之一。货币兑换率的提升也提高了大多数公司的收入,而且它还可以提升大家的生活水平,最终实现经济的整体增长。尽管中国货币价值增长也存在一定的弊端,但总体来说利大于弊。

Chinese currency,中国货币,美国作业代写,paper代写,澳洲代写

In recent years the world has seen an increasing growth in the economy of China as compared with before. According to the World Bank data, China’s GDP has been constantly growing in the past few years, and reached 9.24 trillion USD in 2013, doubling the GDP of other developing countries. One of the main reasons of the economy growth of Chin should include the reduction in Chinese currency exchange rate in recent years. To be specific, one dollar equals to 8 yuan three years ago but one dollar equals to 6.5 yuan now. This issue regarding the increase in Chinese currency will have impacts on China, the U.S. and even the whole world.  I have interviewed Professor Wang of the Business Department in January and I have also got a lot of information from different books. Through my investigation overall, the increasing of Chinese currency has more advantages than disadvantages.

According to professor Wang, the Chinese government’s desire to remain competitive in Asia and the global market is very dangerous to both its neighbors and the emerging economies as a whole. Indeed, it is the concern of Chinese government to regulate the currency, but its negative impacts are only considered short term. It is the responsibility of the Chinese government to maintain the stability of the currency since it benefits the Chinese economy more. It is also the responsibility of the government to regulate the currency based on the domestic demands but not on external pressure from strong economies. Chinese exchange rate poses mixed economic influences to China and other countries such as the United States. According to Morrison, the undervaluation of the Yuan against the U.S dollar results in both benefits and losses to the US economy. The undervaluation of the Yuan leads to cheaper imports from China than if the Yuan was to use as a market-determined currency. Therefore, the undervaluation of the Yuan lowers the consumer prices and hence reduces the inflation.

The increase of currency exchange rate improves the most companies earning and not only does it do that, but it also helps support the rising standard of living among the country and also the overall growth of the economy as it has been realized in China. Also, through the increase of currency exchange rate the government is able to protect its domestic economies. The uncontrolled currency exchange rates are known to affect the economy of the country and also its growth. Hence, by protecting the domestic currency the government of china also reduces the likelihood of any currency crisis that may emerge. The other thing to highly consider is the investment rate defined by the Chinese government since by controlling its currency exchange rate they are able to control the uncertainty of the exchange rates. Thus, the fluctuations can be easily controlled by the nature of the system which acts as an incentive for the firms that would want to invest in the export capacity. Also the other reason as to why the Chinese government should take control of the currency exchange rate is so that the government will be able to control the inflation levels (Chow, 145). The control from the government over the currency exchange rate helps avoid devaluing which may lead to further occurring of inflation.

Chinese government has sent many delegations and trainees to other countries. There is also an increasing trend of Chinese students studying abroad in recent years. According to the ENZ report, 339,600 Chinese students studied abroad in 2012, and the number has been increasing in the past several years in an increasing speed, more than 20% per year. Each of these groups of people spends a considerable amount of money each year. Assuming that each of them spends $10,000 each year, the total of 500,000 people would indicate a total spending of more than a hundred million. These people will be influenced by the variations in Chinese currency, and this group of people as a whole will be impacted by even a minor change in the Chinese currency. As they mainly earned their money in China and spent the money in other countries, they will spend less money abroad when the Chinese currency appreciates, but it will also bring them huge burden if the Chinese currency depreciates.

Professor Wang said, “The disadvantage is that lower priced commodities from China can hurt some of the US industries.” The government control over the Chinese currency exchange rates and the increase of Chinese currency does not only have advantages but it also has disadvantages on the other hand. The most affected industries are those that competes with products produced in China. The direct influences are the reduction of the level of production and the employment issue. Undervaluation also makes US exports to China more expensive. Appreciation of the Chinese currency impacts the US and even the whole world. This is because it cuts the trade deficits of US. It has some influence on the rate of employment in the US since it will facilitate the creation of new job opportunities among the US job market. It also reduces the current account deficit of the United States and those countries that are dominated by China regarding international trades. On the other hand, the currency appreciation also impacts the Chinese people. Regarding the economy, a strong Yuan increases the level of unemployment in China. The appreciation reduces the Gross Domestic Product of the country by a significant value. It also decreases the value of exports and increases the value of imports by the Chinese people. According to Chow, “the first disadvantage is the fact that the economy may be in a position where it is unable to respond to shock, for instance, there are no mechanisms for the government to act on a rapid imbalance on payment problems. Another major disadvantage is the large foreign exchange reserves that the government is required to have so as to be able to have this it can result in an international liquidity problem.” Apart from growth, things like unemployment and inflation may result to these conflicts with the policies (Chow, 161). Another problem that is associated with the increase in the Chinese exchange rate is that it may result in inflation. This will lead to the rise of prices for the import segment in the country. Such a problem will further result in greater tension within the Chinese country, which actually intends to keep everything stable.

The Chinese currency should be regulated by government in order to balance the advantages and disadvantages brought by Chinese currency. As it has been analyzed, if the value of the Chinese currency increases too much in a time period, it will post serious problems with the export industry in China. With not enough time for action to this change, certain industries in China that relies heavily on export will be hurt from this currency change, and thus brings losses to the Chinese economy; on the contrary, if the value of the Chinese currency decreases too much in a short period, it will arose problems concerned by industries that relies on importing form other countries. With no time to respond, this will lead to negative consequences on the living condition of Chinese citizens. Also, the people traveling and the students studying abroad will be hurt from the significant decrease in the value of Chinese currency. A healthy economy has to pursue a balance. In order to prevent the above situations from happening, the Chinese government had specific regulations and macro directions regarding the value of the Chinese currency. For example, when the economy is moving towards a low tendency, the Government will adjust and control the currency to be devalued and thus stimulates the export segment and increase the overall competitiveness of Chinese market among the whole exporting industries. Researches indicated that exports as well as the FDI accounted for 18.2% of GDP growth of China in 2001 and the percentage is analyzed to be growing continuously towards 40 percent in the past 10 years (Yu et al, 2013). The adjustment of the depreciation of the Chinese currency will in turn boost up the Chinese economy as export is considered as main driver of the Chinese economy. On the contrary, if there is need for other specific development target, the Government could adjust the currency with regulations.

To conclude, the increasing of Chinese currency has many advantages including the competitiveness in the importing segment, the improvement of the companies earning, the rising standard of living among the country, the overall growth of the economy in China, and the protection of China’s domestic economies. The increase in the currency value also help the country reduces likelihood of any currency crisis that may emerge. Everything has two sides. With the benefits of the increasing of the Chinese currency value also come the disadvantages. The drawbacks include that the hurt to the exporting segment, which contributes a significant part of the economic growth of the country. From the people’s perspective, the disadvantage also includes the significant increase in the cost of living of the people who travel abroad and study abroad. However, though the disadvantages of the increasing in the Chinese currency value exist, the various advantages analyzed above have well outweighed the disadvantages it brings. Also, the government is able to regulate the monetary market and ensure the best balance among the currency market at the same time, which will work best for both the living standard of the Chinese people and the overall economy in China.

Work Cited

Morrison, Wayne M.  Marc Labonte China’s currency: “An Analysis of the Economics Issus.” Congressional Research Service (2010)

Chow, Gregory C.  China as leader of the World Economy. Singapore: World Scientific (2012). Print

Tung, Rosalie L. U.S.-China Trade Negotiations. New York. Pergamon Policy Studies. Print.

Pollard, D. Gregory Chow “China’s Economic Transformation.” China Information 18.1 (2015) Wiley Blackwell Print.

Linda Yueh China’s Growth: “The making of an Economic Superpower” (2013) Oxford U. Print

Lardy, N. R. (2004). Integrating China into the global economy. Brookings Institution Press.

Yuqing Xing and Manisha Pradhananga. “How Important is Exports and FDI for China’s Economic Growth? ” (2013)

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