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Thread: What if RMB depreciates?
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[quote=MARRIE,275583]I am not an economist either. Relative advantages make trade possible. US is more productive and efficient in manufacturing than China but why they are still outsourcing manufacturing and high tech industry, specifically programming contracts? That is because capitalism is to max. profit and min. cost. The fact that China, my opinion, is expanding overseas investment implies china wants to minimize the loss in foreign reserves in u$ due to the increasing probability of rmb appreciation. Less demands from US economic downturn and rmb appreciation from outside pressure threat china’s export. I don’t think Chinese people want rmb appreciate instantly because they are going to lose jobs. export subisdy or manipulating u$ value in currency market are better way to keep rmb from appreciating then lowering interest rate and further cutting labor costs. [/quote]
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