Rmb Exchange Rate System, In International Economic Policy Coordination

This thesis expounds that international economic policy coordinationis necessary under the condition of high economy relationship accordingto the research to theories of the international economic policycoordination and the present situation of the international economicunbalance.The effect of the finance policy is different from the effect of themonetary policy under the different rate of exchange system. The financeand monetary policy lay particular emphasis on the adjustment toward thedomestic economy, and will produce the more impact to the local economy.Therefore, adjusting the rate of exchange system is usually the firstchoice under the condition that international economy be out of balance.Because of the large sum of our trade surplus and the foreign exchangestorages, many countries ask us for raising the rate of exchange ofRenminbi.The Japanese experience under the pressure of the internationaleconomic policy moderation taught us a lesson that one country's choiceof the economic policy will bring the huge influence to the native economyand the world economy. The coordination passing " moderate thearrangement" of the rate of exchange to carry out a political economicrelationship is a kind of very important and widespread policy. Theposition of international economic policy coordination decides that onecountry could acquire of advantage or lose the superiority already have.The rate of exchange adjustment must be matched by the local macroeconomicpolicy. It will bring the negative influence to the growth of onecountry's even the world economy if the rate of exchange dose notcarefully rise or fall.In the end, this thesis analysis the Renminbi rate of exchange systemarrangement under the international economic policy coordination.Because the fixed rate of exchange will bring our economy circulation andadjustment latent disadvantageous influence, renminbi rate of exchangereform already not only is the request of the international society, alsobecome the guaranty to the stable development of Chinese economy. Afterthe rate of exchange system reform in 2005,a standardized and marketedrate of exchange frame has already established not causing the marketturbulence. The managed float exchange rate mechanism should be persistedaccording to the international economic policy coordination. Meanwhile,improving the RMB exchange rate from other aspects is absolutelynecessary.