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Thinking On The International Law Of The RMB Exchange Rate Issue Between China And The US

Posted on:2013-12-09Degree:MasterType:Thesis
Country:ChinaCandidate:H LiFull Text:PDF
GTID:2246330374982706Subject:Civil and Commercial Law
Abstract/Summary:PDF Full Text Request
Exchange rate is an important, complicated and sensitive issue, which involve a nation’s Economic security and development. In general, Exchange rate regime is simply a Financial Law issue. But as it is closely relative to the international trade law, the regulation of exchange rate involves not only the domestic laws but also a lot of international laws and international organization’s regulations. As the global Economic Structural Imbalances will not be resolved in a short term and the rapid uprise of China’s economy which bring an impact to the old international economic pattern, there will be more conflict about RMB exchange rate between China and the major economies. The argument about RMB exchange rates between China and the US is not only an issue that bothered China-US relationship, but also a potential threat to the China-US trade. So, it is of great importance to study the currency argument between China and the US. The criticism from the US meanly using IMF and WTO as tools, accusing China manipulating exchange rate which violates IMF Agreement’s regulations and undervaluing the RMB exchange rate which will secretly give forbidden subsidies to export commodities. Our effective countermeasures to the US’s censures will give strong defenses to our RMB exchange rate and the global financial system’s stability as well as to maintain China’s rapid economic growth and a good trade relationship with the western nations. There are also political and economic interest behind the exchange rate issue such as national sovereignty, international Standing and influence. As the most economically and politically powerful nations in the world, solving the exchange rate issue properly will have an positive effect on the similar future problems.This paper includes five parts centering on the exchange rate problem. The first part introduces the background and China’s defective countermeasures. In the second part, the paper briefs the cause and effect of the China-US exchange rate issue and point out its core problem which leads to the essential part of this paper. The third part specifies the legal regulation of the exchange rate issue, analyzing China’s domestic law. WTO laws. IMF’s regulations and The Protocol on China’s Accession to the WTO. This makes a premise for the next part to further analyze the legal problems about the RMB exchange rate issue. The fourth part dwells on the US’s true purpose of posing pressures on China about the currency exchange rate issue. In the last part, the author specifies on the countermeasures from industrial restructuring, exchange rate regime, international discourse power, the regulation of origin country.
Keywords/Search Tags:Exchange rate system, Currency manipulation, Export subsidies, National monetary sovereignty
PDF Full Text Request
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