摘要
Using a computational general equilibrium model, we analyze the impacts of Chinese real exchange rate appreciation on the trade balance of China and the USA and on various industries of both countries, We use several scenarios with 2.1, 6 and 12percent real exchange rate appreciations for our simulation analysis. The results indicate that China＇s exchange rate appreciation might not solve the enlarging US current account deficits. Chinese outputs in both primary and manufacture sectors will increase, whereas the outputs of energy and serviees sectorx will be adversely affected. The price of value-added products declines in light of the renminbi appreciation.
Using a computational general equilibrium model, we analyze the impacts of Chinese real exchange rate appreciation on the trade balance of China and the USA and on various industries of both countries, We use several scenarios with 2.1, 6 and 12percent real exchange rate appreciations for our simulation analysis. The results indicate that China＇s exchange rate appreciation might not solve the enlarging US current account deficits. Chinese outputs in both primary and manufacture sectors will increase, whereas the outputs of energy and serviees sectorx will be adversely affected. The price of value-added products declines in light of the renminbi appreciation.
作者简介
Jian Zhang, UNESCO/IAEA, the Abdus Salam international Centre for Theoretical Physics （ICTP）, Trieste, italy, Email： jzhang@ictp.it. Hung-Gay Fung, Dr Y, S. Tsiang Professor of Chinese Studies, College of Business Administration ＆ Center of International Studies, University of Missouri-St. Louis, USA. Email： fungb_@msx.umsl.edu.Donald Kummer, Associate Professor, College of Business Administration, University of Missouri-St. Louis, USA. Email： Kummer@umsl.edu.
