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Thread: Yuan rise would be disastrous: China export body
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[quote=COOLSPRINGS,391625]Of course, due to the situation that RMB is only attached to the US dollar, China has avoided disastrous crises in the world many times. However, RMB cannot avoid disasters by being protected in the long run. RMB should be like a real commodity to experience competition in the market economy and legal environment so that it becomes a strong currency. “China is a huge country, it is abnormal if RMB is not internationalized in the long run,” said Professor He. He stressed that RMB should become an internationalized currency which is in compatible with market laws. “This is the main direction and will not change”. Currency is also a kind of commodity, its price should be decided by its value and demand as well as the fluctuation of other currencies, Professor He explained. Every country will intervene in its currency in a proper way, only the scale varies, he said. [/quote]
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