On March 17, the International Monetary Fund (IMF) President Kahn said that the IMF's view is that the renminbi is still largely undervalued. Wooden Desk Decoration, Removable Hanger, Home Decoration PS / PVC Photo Frame Compo / Gesso Photo Frame Co.,Ltd , http://www.nf-photos.com
In addition, the World Bank also released a report on the same day, saying that China’s inflation rate “will not rise to too high level†in 2010, and it is expected that the annual CPI will rise by 3.7%. It is also recommended that the Chinese authorities fight against interest rate hikes and RMB appreciation. Inflationary pressure. The bank said that the appreciation of the exchange rate will also help promote China's balanced economic growth. In the long run, a more flexible exchange rate can ensure the independence of China's monetary policy relative to the US economic cycle, "and this is becoming more and more necessary."
However, the United Nations Conference on Trade and Development (UNCTAD) in the policy brief issued on the 16th refuted the argument for the free floating of the RMB exchange rate. The briefing said that with the continuation of the financial crisis, global trade and economic imbalances have once again become an international topic. The international community has pressured China, which has a large trade surplus, to believe that China should assume responsibility for solving global economic imbalances. UNCTAD believes that it is unreasonable to attribute the responsibility for resolving global economic imbalances to a country and its monetary policy. The free float of the exchange rate does not help to correct the imbalance of the global economy. The root of this problem is actually a systematic flaw, so it needs to be resolved through comprehensive and multilateral actions.
Many international organizations have different views on the RMB exchange rate issue