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Thread: Yuan rise would be disastrous: China export body

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[quote=COOLSPRINGS,391624]On the issue of trade protectionism, professor He clarified that the main trend in the world is still free trade.

“There are big differences in trade protectionism and trade protection policies. Protectionism means a ban on free trade. But trade protection policies are allowed even with WTO rules. Otherwise the world will fall on the situation such as in Somalia or Haiti (where people and business are not protected at all).”

Professor He explained that facing the financial crisis, various countries tried to use all kinds of protection policies to protect their own economy. It seemed that protectionism is rampant. In fact, the main trend is still free trade.

On the question whether RMB should appreciate, Professor He pointed out that RMB is not a simple issue of appreciation or depreciation. The main question is the reform of RMB system. He predicted a small scale of appreciation of RMB in the near future, but when and how much are hard to say.

He said RMB should experience a legal reform adapting the market rules. “It is not an issue of appreciation, it is an issue to make RMB able to change freely in the world. It is a good chance now, but there is still some risks, ” said Professor He.
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