日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

A drastic revaluation of the yuan may suit the interests of international speculators but could trigger a financial crisis in China, a senior economist has warned.

Related readings:  China shares mixed; yuan hits new high  China tells yuan critics to back off  RMB drops against US dollar

Lin Yifu, director of the China Centre for Economic Research (CCER) at Peking University, made the remarks at a forum held by the institute on Sunday and rejected the claim that the renminbi is grossly undervalued.

If the Chinese currency were seriously undervalued, the ratio of the trade surplus to the overall trade volume should be very high, which was not the case, Lin explained in an article published on the CCER website.

In 2005, the ratio was 7.2 percent. During the Asian financial crisis in 1997 and 1998, when there was strong pressure for the yuan to be depreciated, the figures were 12.4 and 13.4 percent.

From another perspective, if the yuan were seriously undervalued, the ratio of the trade surplus to the gross domestic product (GDP) should also be much higher than that in other Asian countries.

But China's ratio is much lower than in Singapore, South Korea, Malaysia, Thailand or Japan.

1

2

(For more biz stories, please visit Industry Updates)