|
I don't know how the exchange rate is determined. It seems that the rate is the result of accurate calculations. As a layperson, I have no right to say anything.
But from an accountant's perspective, maybe it's like a test. After all, the former appreciation of RMB didn't bring down inflations, but hurt export-oriented companies more severely. Maybe the depreciation is a feasible way to solve part of the predicament of SMEs temporarily. Besides, in the face of the storm that USA urges China to appreciate RMB faster, it's not a good choice to do that even it is ok because that will somewhat show us in the grasp of the USA and will make Chinese uncomfortable.
|