日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

BIZCHINA> Worldwide Reaction
Fixed yuan 'legitimate choice': WB director
(Agencies)
Updated: 2005-06-29 09:03

The World Bank's director for China said on Tuesday Beijing's fixed exchange rate policy was a "legitimate choice" and not a manipulation of the yuan currency, despite escalating rhetoric from Washington.

"I don't agree with any of the criticisms of China that it is manipulating its exchange rate," David Dollar told a meeting of the Washington-based Center for Global Development.

"My own preference would be to move to a more flexible exchange rate system (but) it is a very difficult thing to manage and lots of developing countries have had financial crises as they have made this transition, so I respect the fact that the Chinese authorities are cautious," he added.

The Bush administration has been pushing for a revaluation of the yuan, which has been pegged at 8.28 to the dollar for more than 10 years -- a level U.S. exporters and many lawmakers complain keeps China's goods unfairly cheap.

The Treasury Department last month warned that China risked being branded a manipulative trading partner if it did not take significant action on its currency in the next few months.

The World Bank's Dollar, who is based in Beijing, said loosening the yuan's peg to the U.S. dollar did not necessarily mean the Chinese currency would stay strong over the long run.

"It is a toss-up which way it will go ... I wouldn't assume that if they make it more flexible that the (long-term) tendency is going to be toward appreciation."

He said the more pressing issue for China was to shift its economic focus to growing domestic demand, rather than relying on investment- and export-led growth.

"The export orientation has been a very good strategy for China but it has its limitations. And for China to continue to grow rapidly it will need to rely more on domestic consumption," he said.

China's exports have climbed at a 20 to 30 percent annual clip, well ahead of world trade growth rates of just 6 to 8 percent, Dollar noted.

The transition to a domestically driven economy carries risks, but these would be mitigated by a more flexible yuan, reform of state-owned commercial banks and more developed pension and health insurance systems, he said.

If China's institutions do not become more sophisticated to support such a shift, "we will definitely see a period in which China's growth slows down quite significantly," Dollar said.

He said prospects were "good" for China's economy to keep growing in the 6 to 7 percent range, as the Chinese labor force moves from farming to urban employment.

The Chinese government has projected that some 300 million people will migrate from rural areas of China to cities over the next 15 to 20 years -- equivalent to rural-urban migration of Europe over 200 years.


(For more biz stories, please visit Industries)
主站蜘蛛池模板: 四虎影视免费永久大全 | 亚洲伊人影院 | 午夜视频1000 | 亚洲女同视频 | av色图 | 啪啪小视频网站 | 免费观看黄色片子 | 一区二区日韩精品 | 成人性视频在线播放 | 精品国产一区二区三 | 99精品一区| 一夜七次郎在线视频 | 日韩和一区二区 | 91午夜在线 | bb任你操| 日韩女优网站 | 欧美日韩成人一区 | aaaaaaa毛片 | 奇米影视9999 | 国产精品免费一区 | 自拍偷拍欧美 | 一区av在线 | 99久久久精品 | 可以在线观看的av | 蜜臀久久久久 | 麻豆md0077饥渴少妇 | 五月激情六月 | 久久精品在线播放 | 葵司免费一区二区三区四区五区 | 葵司一区二区 | 亚洲在线免费观看 | 少妇视频一区 | 天天精品综合 | 成人看的视频 | 一区二区网 | 日本va欧美va欧美va精品 | 精品久久久久久久久久久国产字幕 | 国产精品美女www爽爽爽视频 | 日韩一区二区在线免费观看 | 久久免费播放视频 | 国产一区二区三区视频在线观看 |