人民币贬值的双刃剑让中国企业好为难

choi

Keith Bradsher, 人民币贬值的双刃剑让中国企业好为难. 纽约时报中文网, Mar 2, 2017
http://cn.nytimes.com/business/2 ... llar-yuan-renminbi/

, which is translated from

Keith Bradsher, Cheap Renminbi Starts to Burn. Cheap currency fueled China's boom. Now it is squeezing profit margins. New York Times, Mar 2, 2017.

quote:

"That support [China's to prop up renminbi]  is expensive — China has drawn nearly $1 trillion from its huge stash of foreign money to hold its currency steady.  The currency is under pressure to depreciate for a number of reasons. Among them: Families and companies are sending their money out of China, looking for safer places to store it as the country's growth cools. * * * A weaker currency [than the current exchange rate] could push more Chinese people and companies to send their money abroad, for fear of further losses if they continue to hold renminbi.

"A weaker currency also does not pack the same competitive punch because so much of the world’s manufacturing base is now in China; four-fifths of the world’s window-mounted air-conditioners are made in the country, for example. Basically, a weaker currency is not as much help if a company’s competitors all use the same currency.

My comment: Of course it is a double-edged sword. So, there is no need to read the rest.