The plunge in the euro and threat of persistent economic instability has caused the Chinese government to take a more cautious approach to adjusting its exchange rate. But ironically, the collapse of the euro presents a golden opportunity for China to introduce greater exchange rate flexibility. China should do this now, rather than wait for the crisis to abate. And to the surprise of many, it should begin by depreciating rather than appreciating the value of the renminbi.
歐元暴跌和經濟持續失穩的兆頭,已促使中國政府在調整人民幣匯率問題上采取一種更為謹慎的態度。但具有諷刺意味的是,歐元暴跌給中國提供了一個提高匯率靈活性的絕佳機會。中國應立即行動,而不是等待危機消退。而或許會讓許多人感到意外的是:中國首先應該讓人民幣貶值,而不是升值。
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