Abstract:? The devaluation of RMB is to reduce the potential risk of RMB. In 2007, the balance of China's foreign exchange reserves reached $654.38+052.82 billion, an increase of $466.5438+09 billion over the end of last year. Due to the compulsory foreign exchange settlement policy in China, all foreign exchange must be converted into RMB. ? The devaluation of RMB is to reduce the potential risk of RMB. In 2007, the balance of China's foreign exchange reserves reached $654.38+052.82 billion, an increase of $466.5438+09 billion over the end of last year. Due to China's compulsory foreign exchange settlement policy, all foreign exchange must be converted into RMB, that is to say, nearly 3 trillion RMB was printed and distributed in 2007, which did not create any value! Equivalent to 16.2% of GDP in 2007! This is why the appreciation of RMB abroad and depreciation at home make people's lives more difficult. On the other hand, in Japan where the yen appreciates, prices are low and people live a comfortable life.

Taking history as a mirror, let's review the Asian financial turmoil of 1997. The Asian financial turmoil was caused by currency devaluation. In response to Malaysian Prime Minister Mahadi's remarks that he was a "bad boy" in the international financial community at the annual meeting of 1998, Soros said that this was a rhetoric of shirking responsibility, and he was punishing those immoral, irresponsible and indiscriminate governments! If you don't waste money, how can he sell so many of your own coins! The impact of currency depreciation on the economy deserves our deep consideration.

The recent devaluation of RMB is external devaluation: since RMB is not a freely convertible currency, the exchange rate system is a managed floating exchange rate system, and the exchange rate level of RMB is external value. The main purpose of RMB depreciation is to promote domestic exports (the export income of export enterprises denominated in foreign currency can be exchanged for more RMB) and increase the competitiveness of export enterprises (the international financial crisis has a great impact on domestic export enterprises, especially labor-intensive enterprises); The second is to increase the capital flight cost of foreign investment in China (China is the country with the largest amount of foreign direct investment) and stabilize the domestic economy. It has little impact on our lives. Of course, if you need to pay in foreign exchange for traveling or studying abroad in the near future, the cost will increase; In addition, the production promotion of domestic enterprises will directly increase employment and people's income, which will help improve our quality of life.

Money won't affect you now, of course, your money is still 10 thousand. What needs to be noted here is that the external depreciation of RMB leads to the growth of foreign trade exports, domestic economic growth, national income growth, and consumption and investment drive up prices. At this time, the intrinsic value of RMB will change, from 10 thousand yuan to 10 thousand yuan, but the actual purchasing power will decline. Under the current circumstances, this increase will not be great, but at most it will offset the deflation caused by the decline in investment and consumption caused by the financial crisis.