The Influence Of RMB Exchange Rate Fluctuation On The China Foreign Trade With Americian: 2003-2008

In the past few years, the exchange of RMB has been one of focus of debate worldwide. In economic field, people hold the different outlooks to RMB's exchange issue. Since the central bank of China announced that the system of yuan pegging to US dollar was switched to a managed floating exchange rate regime based on market demand and supply with reference to a basket of foreign currences, the exchange of RMB still has appreciated. The traditional theories hold that the rise of exchange would impair country's foreign trade and reduce export, but many scholars thought that the rise of RMB's exchange is good for the foreign trade of China .Under above background, the article firstly introduted content ,modths and inovation in the article.The article secondly made analysis on the relation between foreign trade and exchange, and gave a few classical theories about the relation of foreign trade and exchange.And the article sumed up and classified to the empirical results about the relation of foreign trade and exchange that had been analyzed by domestic and foreign scholars.The empirical results suggest that the different countries have different relations of foreign trade and exchange because they have different histories and ecnomic systems. Thirdly, the author disscussed the cause of RMB'exchange fluctuating and expounded the influence of fluctuating of RMB'exchange. Then the article analyzed the cause of fluctuating of RMB'exchange from theoretical aspect and empirical aspect and discussed the influence of fluctuating of RMB'exchange to Chinese foreign trade from theoretical aspect and industrial aspect.Then the author employed real and measureable variables and built estimating model, then made empirical analysis on the trade relation between China and US based on the model. The empirical analysis suggested that the fluctuating of exchange has no influence on foreign trade between American and China, but the GDP of China has influence on forign trade between American and China..Finaly, the author analyzed the trendency of fluctuating of RMB'exchange on the ground of above theoretical analysis and empirical analysis. Then the article gave some reasonable advices about eliminating disadvantages of fluctuating of RMB'exchange.