soc.culture.china

On Feb 29, 1:01 pm, "ltl...@" wrote:
> The following is from today's Xinhu news. The author of hte article is
> Visiting Prof in Finance, Xiamen University.
>
> /comments/2008-02/29/
>
> One of his argument is:
>
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> =B8=FC=C3=BB=D3=D0=C0=ED=D3=C9=D4=DA=CD=A8=BB=F5=C5=F2=D5=CD=B3=F6=CF=D6=
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> =CD=A8=BB=F5=C5=F2=D5=CD=B5=C4=B3=F6=CF=D6=CA=C7=B1=BE=B1=D2=D3=C9=C9=FD=
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> =C3=E6=B6=D4=B3=A3=CA=B6=A3=AC=CE=D2=C3=C7=B2=BB=D3=A6=B8=C3"=B4=B4=D0=C2"=
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>
> A country has no reason to chose foreign reserve's depreciating and
> its own
> currency's appreciation when it has hugh pile of foreign reserve. It
> has less
> reason to appreciate its currency wheninflationhas appeared or
> accelerating.
> The appearance of inflaiton should be the watershed between
> appreciation and
> depreciation. This is common sense in exchanging rate policy making.
> In the
> face of such common sense, we should not "innovate."
>
> Comments?

/comments/2008-03/04/

Another article of the same series.

This one discusses what is behind inflation and the Balassa-Samuelson
effect.
It rejects the call for faster rmb appreciation because such calls is
based on
the proponents' misinterpretation of the Balassa-Samuelson effect.

Whether one agrees with faster RMB appreciation or not, the media is
serving the
readers well by presenting the arguments in an easy to understand way.